TessMore Finance Blog

When you see stocks like Amazon and Google parent Alphabet trading for thousands of dollars, investing can seem out of reach. Those high prices may tempt you to seek out a bargain. Enter penny stocks. Penny stocks seem like an opportunity to buy into an up-and-coming company for dirt cheap. At penny stock prices, you can afford to buy hundreds or even thousands of shares. But watch out: Trading penny stocks could easily leave you broke. Here’s why it’s so easy to lose money buying penny stocks. What Is a Penny Stock? The U.S. Securities and Exchange Commission defines a penny stock as one that trades for $5 or less per share. Most investors, though, take a narrower definition. Many define it as one that trades for under $1. The low share price isn’t the only thing that defines a penny stock. You can find stocks trading for under $5 a share on major stock exchanges, like the Nasdaq or New York Stock Exchange (NYSE). But most investors don’t consider these to be penny stocks. Penny...

Everybody likes to save money anywhere possible. Grocery shopping is of particular interest to many money savers, because food and grocery purchases are one of the highest monthly expenses for most people. There are many different ways to save money on your overall food purchases, including eating out less, using coupons and limiting impulse purchases. Buying in bulk is another way you can save money while grocery shopping and here we will look at some of the do’s and don’ts of grocery shopping in bulk. What is Bulk Grocery Shopping? At its simplest, bulk grocery shopping is the idea to stock up on certain products when the price is low. When a particular product goes on sale, buy several weeks or months worth, so that you don’t have to buy it until it goes on sale again. While grocery shopping in bulk is easier for people with larger houses and more storage space, even apartment dwellers can get creative with space requirements. What to buy in bulk (and what to avoid) Naturally, c...

If you’re feeling shaky about your retirement savings, you’re not alone. According to a February 2021 research report by the National Institute on Retirement Security, 56% of respondents said they’re worried about achieving a financially secure retirement. If your savings fell short in 2021, the new year is a great time to get back on track and reach your retirement goals. We’ve rounded up a few tips to help get you there. 6 Ways to Boost Your Retirement Savings in 2022 There was a lot going on this year. We get it. Maybe you started a new job or picked up a side hustle. Maybe you exited the workforce for a while to take care of your family. Putting aside money for retirement may have been the last thing on your mind. Following these steps can help transform saving for retirement from a scary to-do list item into a wealth-building reality. 1. Stash Money in Your 401(k) Before 2021 is Over Stepping up your retirement savings now — before 2021 ends — could give you a nice tax ...

The year is almost over, and you’re no doubt rushing to wrap up holiday shopping, get ready to travel or meet a final work deadline.  The last thing you need is another item on your to-do list, but a little bit of financial reflection and planning is essential before the calendar turns to 2022.  Making these end-of-year money moves will help you handle whatever comes your way next year.  6 Money Moves to Make Before the End of the Year 1. Set Your Financial Goals for the Coming Year When you think ahead to the end of 2022, what would make you feel accomplished? What if you cut your credit card debt by half? What if you were able to boost your savings account to four — or even five — figures? Or build up that emergency fund you may have had to dip into this year? Think about what you want to celebrate at the end of 2022, and then set some goals to help you get there.   We’re fans of the SMART method of goal-setting . A SMART goal is:  Specific...

The holidays are for making memories. But there’s one memory you don’t need: Credit card bills reminding you that you overspent on gifts and parties and decorations and everything else.  To ensure you don’t start 2022 under a new pile of debt, we have tips to help you avoid overspending this holiday season. 4 Tips for Avoiding Debt During the Holidays It’s easy to get caught up in the spirit of the season. Check out these tips to help ensure you aren’t still paying off 2021 purchases long after this year has passed. 1. Follow the Four-Gift Rule Instead of filling the room (and maybe the next) with presents, consider the four-gift rule . It’s a strategy that sets clear boundaries on what types of gifts to get each person on your list and caps how much you buy, so you don’t go overboard on Christmas spending.  The rule even rhymes, so it’s easy to remember: Something they want Something they need Something to wear Something to read 2. Find Toys for Under $30 The l...

I'm a long-time vocal proponent of higher education. For me, it's personal. I was raised in a poor family with parents who had briefly attended college, but never with any real gusto. (I'm not sure my father had a plan. My mother studied home economics. Not kidding.) My uncle got a math degree from a now-defunct community college, and his son (my cousin Duane) went to school back East. I'm not sure if he got a degree, though. (I'll ask him tomorrow when we get together to bake Christmas cookies!) But from a young age, I knew that I wanted to go to college. I knew I was a smart kid, and I viewed college as a Way Out. It was an escape from the trailer house I grew up in, an escape from menial labor. Too bad then that I squandered my college education. I entered Willamette University intending to be a religion major, but eventually ended up with a psychology degree — chased with an equally useless English minor. My college degree hasn't really proved useful in...

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . Chances are, you probably play some sort of game on your phone in your down time. Maybe you’re a Solitaire kind of person. Maybe you have more fun with a classic bubble-shooter type of game. Either way, your gaming skills could earn you some serious prizes this holiday season. Not only could you win up to $83 per win playing Solitaire Cash or Bubble Cash , but between Dec. 17 and 27, you can enter a raffle where you could win major prizes — including tickets to the Super Bowl and front-row, VIP tickets to Katy Perry. Seriously. Playing Solitaire for Money: How to Win up to $83/Game Solitaire Cash is a free iPhone app that lets you play for money. You could get paid up to $83 per win. You might be thinking: There’s got to be a catch. This is definitely one of those spammy apps, right? Wrong. There real...

Stuffing cash in an envelope in lieu of buying a gift often gets a bad rap. But let’s be real: Who couldn’t use some extra cash? You’ve never heard of anyone trying to return a cash gift because it wasn’t their size or didn’t suit their taste. And giving money doesn’t have to be impersonal or boring if you use one of these fun money gift ideas. 19 Creative Money Gift Ideas Stop stressing about gifts during the holidays or other special occasions. Give the thing everyone is sure to love — cash! 1. All Boxed Up Mimic the look of a traditional gift by putting some cash in a box, covering it in wrapping paper and topping it off with a bow. A small box, like the kind jewelry comes in, works perfectly. But if you want to be humorous, put the cash in a small box and put that box in a medium-sized box and put that box in a larger box. All the unboxing will be like opening up nesting dolls — but with a monetary reward at the end. 2. Money Origami Turn dollar bills into hearts or butterf...

You might be familiar with down payment gifts , when a family member provides home buyers cash that they can put toward the down payment of a home. But what about the equally valuable gift of equity? This is when someone, usually a family member, sells a home to buyers for a price below market value, often far below. It’s a way for owners to gift real estate to their children or other relatives even if these buyers don’t have enough cash to cover a down payment or the larger monthly payment that would come from a home sold at market value. But how does the process work? What taxes come with providing or receiving a gift of equity? Here’s a look at how home equity gifts work and the potential pitfalls to avoid. What Is A Gift Of Equity? If your parents – or grandparents, cousins or in-laws – sell you their home for less than its appraised value, you’ve received a gift of equity. In this case, the equity gift is the difference between the home’s value and its sales price. If your...

Dear contributors, My husband has a hidden investment account where his beneficiaries are his ex-wife and son. I think he opened this investment account while we were married. Also, we have an account where the same son is the beneficiary, along with the other children of my husband. How can I stop and make it fair?  My husband doesn’t know that I know about his hidden investment. Do I consult first with a lawyer, or do I talk to my husband about his wrong action? What steps do I have to take in order to safeguard my finances? -G. Dear G., The answer depends on how much you trust your husband. Were you shocked to learn about this investment account? Or does siphoning off investments into a secret account seem like par for the course with him? If your husband is trustworthy and is open with you about financial matters, I’d start with him. You don’t need to approach this in full-blown confrontation mode. Tell him what you found, and ask him to explain. You say you think he op...

Zillow scrolling is a hobby (or habit) that became popularized during the COVID-19 pandemic. While looking at house listings on Zillow or other real estate listing sites is something that has existed as long as those sites have been around, its popularity skyrocketed during the pandemic.  This was especially true during early 2020 when many parts of the country were under stay-at-home orders, Zillow scrolling became a way to escape reality and fantasize about some of the different destinations that might be in play. Even as restrictions have eased up, many people continue to Zillow scroll for fun and enjoyment. What is Zillow scrolling? Zillow scrolling is the process of looking through at home listed on Zillow or other home sites. Whether you’re looking at homes with the idea of actually moving to a new place or just being aspirational, surfing the endless inventory of homes out there can be a fun way to spend time.  Different ways to scroll Zillow As you might imagine, ...

Tracking expenses can help inform smart money management, ensuring you have clear oversight and control over your finances. While the thought of examining the money you spend may be daunting at first, this is one of the first steps in setting a monthly budget that works for you (i.e., one that covers your basic needs and wants without leaving you feeling like you’re living a life of denial). When setting up your 2022 budget, try a “conscious spending” approach . Instead of scrounging to save money, allow yourself those treats you truly enjoy while cutting costs on those things that don’t improve your happiness or quality of life. This makes for a sustainable approach to saving, investing, and general money management and can result in a more stable financial future. This guide explains how to calculate your expenses according to the conscious spending mindset. What’s considered a monthly expense? So, just what qualifies as an expense? At its core, an expense is anything that you ar...