TessMore Finance Blog

Active and passive portfolio management styles are two contrasting investing strategies. One involves active participation and management of the portfolio while the other requires fewer movements. Let us discuss what active and passive portfolio management styles are and what are the key differences between them. What is Active Portfolio Management? Active portfolio management refers to an investing style where the portfolio manager actively makes investing decisions. Active managers rely on analytics, technical indicators, personal judgments, and market forecasts to make these active investing decisions. This type of investing style requires buying, selling, and holding financial assets in a portfolio. Active decisions mean the portfolio consistently changes. Active portfolios also follow an index as a benchmark and mimic their portfolio assets. However, active investing aims to beat the index rate of return by changing the portfolio balance consistently. Active managers utiliz...

People use their credit cards to pay for many things, but you might be surprised to learn that you can pay your monthly rent with your credit card. Although paying the rent with a credit card isn’t always the wisest financial move, it can make sense in some situations, and sometimes it’s convenient and necessary.  In this article, I’ll share different ways to pay rent with your credit card. I’ll explain when it might be worthwhile and when it’s not. Table of Contents 8 Ways to Pay Rent With a Credit Card 1. Bilt Rewards 2. PlacePay 3. Plastiq 4. Venmo/PayPal 5. ClickPay 6. Rentler 7. RentMoola 8. Cash Advance When Should I Pay My Rent With a Credit Card? 8 Ways to Pay Rent With a Credit Card Most landlords and mortgage companies won’t accept credit card payments for rent or mortgage payments.  However, there are workarounds that will allow you to do so. The companies listed here act as third-party payment processors that will deposit your rent payments f...

Wealth management is one of the best financial advisory services a wealthy person can choose to manage their financial assets. Although the service is typically accessible for highly wealthy clients, those who have a significant sum of financial assets may also find it useful.   Wealth managers across the country help manage their client’s finances and possessions that contribute to their overall net worth , like real estate, stocks, art investments, and luxury vehicles. A wealth management firm can offer a variety of services including retirement planning, tax services, and estate planning. Even if you don’t consider yourself wealthy now, there’s a chance your wealth may grow as you age , and a wealth manager can make organizing your money easier. What Does Wealth Management Mean? The basic definition of wealth management is an advisory service that provides financial planning and management for wealthy figures. These could be individuals or families that want to manage their...

Are you resigning from a position and need to write a resignation letter? I’ve resigned from several jobs and each time wrote nearly the same resignation letter. It’s easy, it should not be stressful, and our simple template below will help you get it done quickly. Quitting a job may be hard but writing the letter won’t be. Table of Contents What to Put in a Resignation Letter What NOT to Put in a Resignation Letter About Your Resignation Free Resignation Letter Template What to Put in a Resignation Letter A resignation letter should be the most simple and barebones letter possible. Consider it a formal legal document where you only put what is necessary to let your employer know you’re leaving the company. This includes: Your contact information A formal statement indicating you’re resigning End date of employment Your signature If you want, thank them for your time there, the opportunities you were given, and how much you enjoyed it… but even that I’d consider lea...

In some cases, people may not be able to make some decisions for themselves. This could be due to age or mental or physical limitations. In these cases, a conservator may be appointed. Definitions of conservatorship or guardianship can vary by state, but in many cases, a conservatorship handles financial matters and a guardianship handles day-to-day activities.  What Is a Conservatorship? A conservatorship is a legal process often put in place by a court to help someone who may not be able to manage their own affairs. The exact role of a conservatorship can vary depending on state law and the needs of the person. A conservatorship may be put in place to handle financial, medical or other daily-life matters. It’s common for a conservatorship to be put in place for a person, but conservatorships can also be assigned for corporations or organizations. Conservatorship vs. Guardianship There can be some confusion regarding the terms conservatorship and guardianship, since both can r...

Car insurance is typically the most expensive for drivers under 25. This includes teenage drivers and adult drivers who have had a coverage gap or recently moved to the United States can also face high rates. However, just because you fall into one of these driver categories doesn’t mean you should settle for high insurance rates. Car insurance premiums can vary wildly between insurance companies, and there are many ways to obtain discounts. Our guide to the cheapest car insurance for new and first-time drivers contains everything you need to find affordable coverage. Table of Contents How Much is Car Insurance for First-Time Drivers? Best Car Insurance for New Drivers Car Insurance Comparison Websites USAA GEICO State Farm  Travelers Progressive Allstate Nationwide Erie Insurance 12 Tips to Lower Your Car Insurance as a New Driver 1. Telematics Insurance 2. Drive an Older Car 3. Take a Defensive Driving Course 4. Look for Student Discounts 5. Multi-Policy...

Want to know how to save money even if you feel like you don’t make enough, or are flat-out broke? Here’s what to do: Depending on your financial situation, setting up a workable Conscious Spending Plan may seem out of reach for you. Some people have already cut their spending to the bone and still don’t have any extra money. For me to suggest that they put away 10 percent for retirement is, frankly, insulting. How can they be expected to contribute 10 percent toward long-term savings when they don’t have enough to fill the car with gas? Sometimes this is reality, and sometimes it’s perception. Many of the people who’ve written me saying they live paycheck to paycheck actually have more wiggle room in their budgets than they think (cooking instead of eating out, for example, or not buying a new cell phone every year). They just don’t want to change their spending. However, it’s true that many people really cannot afford to cut more spending and really are living check to chec...

You may have heard about “robo-advisors” like Betterment and Wealthfront. Robo-advisors are investment firms that use computer algorithms to invest your money (“robo” refers to a computer investing for you versus an expensive adviser). You’re probably wondering if they are a good investment and if you should use one. As a NYT best-selling author on personal finance, let me break it down for you. NOTE: If you’re looking for more information on investing, I recommend checking out these other articles I wrote: Roth IRAs vs Traditional IRAs Ultimate Guide To Online Investing Wealthfront vs Betterment: Which Roboadvisor is better? OR, make it easy on yourself, and just enter your email to get my Ultimate Guide To Personal Finance below. Ready to ditch debt, save money, and build real wealth? Download my FREE Ultimate Guide to Personal Finance. Why Robo-Advisors Became Popular Robo-advisors took the elite financial planning services offered to clients of financial advisers and ful...