OK, I think I have found the most simple possible way to approach this issue (for Linux / Ubuntu users at least):
Here is my step by step:
1) Make sure you have your seed written down and stored in a safe which it should be already anyway,
2) Make sure you have your labels backed up and your private key exported and secured. Note anyone who gains a copy of your password / private key has access to your bitcoins, so be cautious. In this step I decided to place a copy of my labels and private key temporarily in my documents folder.
3) Uninstall your Electrum. In Ubuntu you can do this from the Ubuntu Software Center
4) Download and untar Electrum-2.8.3.tar.gz (this is done simply by clicking on the link at
https://electrum.org/#download and navigating to "Installation from Python sources") and then unpacking Electrum-2.8.3.tar.gz to someplace prominent on your computer.
5) Open a terminal (Ctrl - Alt - T) In the electrum directory, run: 'python electrum'
You will now see some addresses running down the terminal and lo and behold, electrum is populating itself with your data from your prior version of Electrum.
If it returns back to prompt in the terminal, great, then you type this:
sudo python setup.py install
and hit enter
If it hangs and doesn't return back to prompt you may need to kill the terminal (close it) and restart a new terminal, then go back into the electrum directory, and type:
sudo python setup.py install
and hit enter
Technically you should now be done.
Then, from terminal, just type the magic word, electrum (and hit enter) and that will start the interface.
NOTE, EDIT: IF THAT DOESN'T WORK TO START IT, TYPE (from terminal after going to electrum directory): python electrum
and that will start the interface.
Some Unfortunate Notes:
Close electrum and see if you can find it and open it from your finder at top left or from terminal by typing electrum. Terminal may tell you it isn't installed... if that's the case, it will then tell you to type
sudo apt-get install electrum
However, if you were to follow that, and install it, as an Ubuntu user, you will have re-installed the wallet which is version 1.9.7, which is what you uninstalled in the earlier step. So we are probably better off NOT installing that Electrum version! It is a weak and old version which should no longer be in the Ubuntu Software Center, but sadly, still is..
Stick with the newest version of Electrum available! (Ideally 2.8.3 or newer whenever the newest version comes out.)
If (like me) you previously had problems with doing git pull to update electrum it should work fine now, at the very least, here above is a simple five-step process that works to get updated. Make sure you update to 2.8.3 or the newest version when it comes out as Electrum will have more improvements.
finally you may also want to (in terminal) do:
sudo apt-get autoclean
sudo apt-get clean
sudo apt-get autoremove
Probably overkill, but there it is.
Enjoy
P.s.. don't forget to encrypt your wallet with password! Keep copy of your seed offline in a safe somewhere on paper and never type seed phrase online, etc.!
The above post was edited May 29, 2017.