TessMore Finance Blog

As inflation continues to dominate the headlines, you may have started to hear about the concepts of shrinkflation, skimpflation and greedflation. These are subtle ways in which companies attempt to either minimize or take advantage of the impact that inflation has on consumer expectations. It’s important to understand these concepts in order to avoid being manipulated. Let’s take a look at each one in a little more detail. What is Shrinkflation? The traditional concept of inflation refers to paying more than you would previously for the same item. The concept of shrinkflation refers to paying the same amount as you were before, but receiving a smaller size.  For example, let’s say you paid $5 for an 18-ounce jar of peanut butter last year. But now, you’re paying $5 for a 15-ounce jar of peanut butter. While the final price hasn’t changed, you’re receiving less than you were before.  Shrinkflation is often harder to spot than traditional inflation because it’s difficult ...

The Great Resignation was not the end of things. Now workers, especially younger workers, have a new phenomenon in the work-worker relationship: Quiet Quitting. Quiet quitting is a form of quitting without quitting. The employee changes the work-worker dynamic, but doesn’t leave their job. The change in relationship works across a spectrum. At one end of the spectrum, workers cease going over and above for an employer. The worker might stop putting in extra hours, quit seeking additional work or assignments, limit themselves to the specific tasks they perceive to be part of their job description. They remain engaged in the basics of the job, but do nothing extra. The other end of the spectrum is a bit more severe. Some workers reduce their output to as little as possible. They have, for all practical purposes, quit their job; they just remain employed — at least until the employer figures this out.  Driving Forces The themes behind the quiet quitting movement are similar to t...

Labor Day, celebrated in the United States on the first Monday in September, is often considered the end of the summer season. As kids go back to school and the weather gets colder, it is common to celebrate with barbecues and other types of get-togethers. The Monday holiday means that many have a long weekend as well. If you are trying to stick to a budget but still want to celebrate Labor Day, here are a few ways to prepare and have fun on a budget. Host a Potluck If you have an annual tradition of a Labor Day cookout that you don’t want to break, there are a few things you can do to keep your tradition strong while trying to save some money. One idea is to make it a potluck. You can have all your guests bring a side dish or dessert, while you provide the main course. Depending on how many guests you are planning to host, you might consider organizing a signup so that you make sure that you’ll have a good variety of appetizers, side dishes, salads and desserts. Another idea is to...

According to its website, Chime is a fintech company that provides “peace of mind” banking. And at nearly 10 million members strong, we can assume customers are happy with Chime. However, many other fintech companies and online banks offer the same features as Chime. How do you know which one is best suited for you? In this article, I cover ten online banks similar to Chime, so you can compare them. I’ve summarized the key features of each platform, and I let you know the similarities and the differences between them and Chime. Table of Contents What Is Chime? Top 10 Chime Alternatives 1. Ally 2. Axos Bank 3. Varo 4. CapitalOne 360 5. CashApp 6. Dave 7. Brigit 8. Digit 9. MoneyLion 10. Self Chime Alternatives: Summary What Is Chime? Before we delve into the Chime alternatives, let’s talk briefly about what Chime is. Chime is a banking fintech developed to make banking helpful, easy, and free.  Chime offers three types of accounts:  Checking a...

During this “Great Resignation” era when many workers are changing jobs or considering a job change, it is more important than ever to consider various types of employee benefits and their economic value. Also known as “fringe” (short for fringe benefits) or “perks.” employee benefits generally equal 25% to 50% of a worker’s gross pay. Thus, they are a key part of workers’ total compensation package. Purposes of employee benefits include: recruit and retain talented employees (e.g., total benefits package) enhance workers’ financial security and health (e.g., health insurance) improve employee morale (e.g., paid vacation) increase productivity (e.g., profit sharing) and human capital (e.g., educational benefits and training) improve an employer’s reputation as a good place to work for and do business with (e.g., flexible work hours) Get Matched With Lenders and Receive the Lowest Rate on Auto Loan Check Your Rate Below is a description of ten common employee benefits and b...

When you first start doing business as a freelancer, there’s one big concern that seems to consume you: landing enough clients to generate decent income. Trust me – I remember those beginning stages all too well. But as you begin to get your name out there and gain a good reputation as a freelancer, finding clients and projects becomes easier and easier. Your income continues to increase and – if you’re lucky – you find yourself in a position where you have almost too much work to handle on your own. This is exactly where I’ve found myself lately. And while I know that there are plenty of newbie freelancers out there who are currently rolling their eyes and writing me off as nothing but fortunate, this situation can be just as much a curse as it is a blessing. You see, I’d like to see my income continue to grow. I’m young, and I don’t want to accept that I’ve already reached an income plateau in a career that I plan to be in 30-plus more years. However, there are only so m...

Average Cost of Long-Term Care Insurance As a baseline, the average cost of long-term care insurance for a 55-year-old man and 55-year-old woman annually is $950 and $1,500 , respectively. When it comes to your financial future , there’s nothing more responsible than staying prepared for the unexpected — including budgeting for long-term care insurance. Nearly 70% of people over the age of 65 will need this type of aid in their remaining years, whether that means residing in a long-term care facility or having a live-in nurse help you with daily tasks.  Use this long-term health insurance cost guide to answer common questions such as: What is long-term care insurance? How much does long-term care insurance cost? What does long-term care insurance cover?  Here you’ll find average long-term care premiums and even information on how to secure a long-term care insurance policy that’s best for your wallet.  What Is Long-Term Care Insurance?  Long-term care i...

Are you looking for a financial app that can track your banking accounts, help you budget, and suggest ways to improve your finances? Monarch Money is a popular budgeting app that can monitor your financial progress and make it easier to plan for the future. For example, the app syncs to most bank accounts, lets you create unlimited budgets, and tracks your investments and net worth. This Monarch Money review covers the various financial tools available to you. Table of Contents What Is Monarch Money? How Monarch Money Works Monarch Money Pricing Free Premium Best Monarch Money Features Budget Financial Goals Investment Tracking Net Worth Tracker Joint Finances Personalized Advice Customized Charts Monarch Money Pros and Cons Pros Cons Alternatives to Monarch Money YNAB Mint Personal Capital Kubera Money Monarch FAQs Monarch Money Review: Final Thoughts What Is Monarch Money? Monarch Money is a budgeting app and net worth tracker. You can ...