TessMore Finance Blog

Freda Robinson, 65, lives a frugal life. She uses coupons, compares weekly grocery store ads and hunts for the best deals. But rising inflation worries Robinson, a South Carolina resident who retired from her job in May 2018. She’s concerned that her nest egg won’t last as prices on everyday items continue to rise. “I would dare say anyone who isn’t Jeff Bezos is concerned about outliving their savings after they retire,” Robinson told The Penny Hoarder. Inflation is higher than it’s been since the 1980s. And those higher prices are alarming for retirees, said Summer Red, an accredited financial counselor at the nonprofit Association for Financial Counseling & Planning Education. “Retirees often have limited resources — their incomes may be fixed and their only other assets are their savings and their house,” Red said. Social Security and savings are the two biggest sources of income for most retirees. While Social Security does increase annually for inflation, savings do not...

The lifestyle we create for ourselves is greatly influenced by our job. Being responsible and happy means not having to worry about losing your job, right? So why do so many Americans feel blue on Sunday night when it’s time to prepare for work the next day? If you hate your job, there’s a good chance that you may also hate your life. A World Health Organization study showed that long working hours led to 745,000 strokes and incidents of heart disease in a single year. Stress from work is quite literally killing people. Some choose to look for the solution rather than endure the pain. But whether it was voluntary or not, what should you do when you lose your job? Bridgette, an IT professional, was coming to the end of her work contract, and she didn’t have another one lined up yet. Even though that worried her a bit, it also felt good. Bridgette had been burned out on her job for a few years. She enjoyed programming, but wasn't passionate about it. She used her hobbies of cook...

Why toss things in the trash when you can recycle them — and make a little money in return? By diverting certain items from the waste stream and keeping them out of landfills, you can also make extra money or help out worthy causes. From scrap metal to ink cartridges, bottle caps to construction materials, you can recycle a huge variety of items in exchange for cash. We’ve also included information on how to recycle items for the sake of good will. Ready to see all the different things you can recycle for money? How to Recycle Household Items for Cash First, you’ll need to find a recycling center or collection point that is looking for what you want to get rid of. While the goal is to make money, you might settle for a donation — which could be tax deductible — if it means clearing out the garage. The collection center will also let you know how to prepare items to their specifications. Find a Collection Point To find a recycling center near you, head to Earth911.com and plug in...

Every now and then, well-intentioned plans to save money simply fail. You think you’re following the frugality playbook only to have it backfire. It’s when trying to be cheap ends up being expensive. It happens to the best of us. 10 Frugality Fails to Avoid Here are 10 situations where trying to pinch pennies has the potential to end up costing you money. 1. Letting Meal Prep Go to Waste Preparing meals in advance means you won’t be tempted to grab fast food or order takeout whenever you don’t feel like cooking. But there’s always the potential of wasting a week’s worth of chopped veggies or a container full of chicken breasts if they’ve gone bad or you just can’t stomach eating the same meal several days in a row. That’s just tossing money in the garbage. The same thing can happen when you try to be thrifty by buying in bulk — but end up throwing out half of what you bought because it’s too much. The remedy: Meal prep a few days out rather than for an entire week. Store fo...

With two young adult sons and two failed marriages, Adam Stone couldn’t endure his job one more day. He logged onto his computer and ran into a technical difficulty that triggered his frustration. He tried his normal coping mechanisms , but there was nothing strong enough to keep him from logging off his computer, walking over to his supervisor’s office — coat in hand — to say, “I’m leaving, and I’m not coming back.” All his life, he’d played it safe and done what he considered to be the responsible thing. At 45 years old, he had put in almost 20 years of service, and he couldn’t take it one more day. Since the birth of his first son , Stone had worked his good government job, saved money, paid bills, invested, and even gifted money to his less fortunate family members. After breaking the news of his job loss to his live-in girlfriend, Stone went to his home office to calculate his finances. He checked his retirement savings plan, which he was now going to have to put on hold. ...

As we move more and more toward a cashless society, you may be left wondering how to deposit cash into your bank account.  While it’s true that cash deposits are becoming less common, there are still times when you may need to deposit cash. This is especially true if you work in an industry that deals in cash, like the restaurant or tourism industries.  Also, what if you deal with an online bank? How do you deposit cash when there are no physical locations or ATMs? Let’s take a closer look at the different ways to deposit cash at both brick and mortar and online banks.  Table of Contents How to Deposit Cash at a Local Bank Deposit Money at the Bank Teller Deposit Money at an ATM How to Deposit Money at a Credit Union How to Deposit Money Into an Online-Only Bank Account Deposit Into Your Local Bank and Complete a Transfer Buy a Money Order Use Green Dot Safety Tips for Depositing Cash Always Get a Receipt Be Aware of Your Surroundings Be Discreet ...

If you want to maximize your monthly Social Security checks, waiting until 70 to claim benefits is a smart move. Your monthly benefit at 70 would be about 77% higher than it would be if you started as soon as you became eligible at 62. But what happens if you hold out beyond age 70? Will your Social Security benefits get an even bigger boost? Read on to learn what happens if you don’t claim Social Security by 70. Do You Get More Social Security Money if You Wait Past 70? The short answer is no. You won’t increase your Social Security benefits if you delay beyond age 70. At full retirement age, you’re eligible for your full benefit, also known as your primary insurance amount. If you claim early, you’ll receive a reduced amount. However, for each year you wait beyond your full retirement age — which is 67 if you were born in 1960 or later — you’ll receive an 8% delayed retirement credit. But you stop earning those delayed retirement credits once you reach age 70. What Happens i...

You probably have aluminum foil, baking soda, peanut butter, vinegar, and Windex in your house and you may even have coconut oil. If not, you should. These common household items can save you emergency trips to the store as well as money. You may never buy bleach, stain remover, or furniture polish again. Imagine the space you’ll save under the sink and other spots you store household products. Our guide to using these common and cheap items can save you time and money, sometimes in surprising ways. 12 Uses for Aluminum Foil We had no idea that there were so many uses for aluminum foil beyond covering things. Foil to sharpen scissors? Immediately had to try it and yes, it really works. Aluminum foil can be used in the garden, laundry room, and before you go to the nail salon. Check out this article to learn how aluminum foil might help shine a light when you’re out of batteries or save money off your heating bill. 30 Uses for Baking Soda Opening a little box of baking soda is l...

There’s nothing quite like the feeling of driving a brand-new car. It’s more than the new-car smell. It’s knowing that no one has ever driven it — other than maybe a test cruise or two — before you. But a new car can be expensive, which makes it out of reach for many drivers. While buying a used car is one option, another way to get behind the wheel of a new vehicle without buying it outright is to sign a lease. The 2022 Reality of Car Shopping The pandemic has put a dent in the usual car buying decision making, and that’s mostly because there is a shortage of new cars. The global microchip shortage plus a slow down in production during the height of the pandemic have severely affected inventory. Through 2021, and now into 2022, experts say buyers should expect to pay full sticker price so if you can hold off on buying a car, do. According to Kelley Blue Book, the average new car cost $46,404 in January 2022. That’s up 13.6% from January 2021. That’s because, in addition to consum...