TessMore Finance Blog

We are reimagining Mint as part of Intuit Credit Karma, expanding our collective capabilities to deliver upon our mission of championing financial progress for all. Mint will no longer be available as of January 1, 2024. To learn how to download your Mint data, please visit Credit Karma’s U.S. Help Center . We’re excited to build on the Mint legacy at Credit Karma, and provide even greater value to Minters.  Last year, the Intuit Mint team joined Intuit Credit Karma to help build one of our newest experiences that will help millions of members know, grow and protect their net worth. This marks the next evolution of Credit Karma, one that combines the money management product expertise and momentum of Mint with Credit Karma’s scale, technology and vast product ecosystem.  Credit Karma is thrilled to invite all Minters to continue their financial journey on Credit Karma, where they will have access to Credit Karma’s suite of features, products, tools and services, including some of Min

President Biden signed an omnibus budget bill in December 2022, which included bipartisan legislation helping to make it easier for people to save for retirement. The SECURE (Setting Every Community Up for Retirement Enhancement) 2.0 Act builds on the previous SECURE Act law, which was passed in 2019. While not all of the changes in the SECURE 2.0 Act might affect you, it’s important to be aware of the changes. Here’s a quick look at some of the biggest updates. Changes to Required Minimum Distributions (RMDs) Many retirement accounts have Required Minimum Distributions (RMDs). The two most common types of accounts subject to RMDs are 401(k) and IRA accounts. The IRS wants to make sure that the money in these retirement accounts is withdrawn and spent (and therefore taxed). The SECURE 2.0 Act increases the age at which you are required to start taking withdrawals from your IRA or 401(k) plan. Prior to January 1, 2023, account holders needed to start taking RMDs at age 72, but as of t

Wouldn’t it be nice if you never had to mow your own lawn? Or shovel snow from your driveway? How about having a swimming pool you didn’t need to maintain?  Living in a homeowners association (HOA) can sometimes provide these benefits and more. However, you will usually need to pay an HOA fee. With that said, what are HOA fees exactly, and what do they cover? Here’s what you need to know.  What Is a Homeowners Association (HOA)? A homeowners association (HOA) is an organization that makes and enforces rules within a residential community. These communities can be subdivisions, condominium buildings, or other planned communities.  While HOA governing boards are run by a select group of volunteers, HOA memberships are mandatory for all residents living within the community. This means when someone moves in, they automatically become a member of the HOA and must pay HOA dues — meaning monthly, quarterly, or annual fees. Prospective homeowners should keep these fees in mind when budge

When it comes to building your wealth and planning for your  financial future , investing is one of the best decisions you can make.  The benefits of smart investing are plentiful. When done strategically, investing can allow you to  outpace rising inflation  and build wealth on your own terms. Additionally, good investments can generate earnings when they’re reinvested, allowing your initial investment to compound over time.  All this is to say that the  benefits of investing  can be profound, provided you do your homework ahead of time and maintain awareness of your budget and the riskiness of the investment.  The list below highlights the best investments for 2023, mixing both long and short-term investments as well as the varying levels of risk for each. While other solid investment options exist, these 15 investments take into account rising inflation and interest rates while providing options for both high- and low-risk investors.  1. Value Stocks Value stocks are stocks th

Stocks are an important part of any investment portfolio . Compared to other investments, they offer a relatively high average rate of return. In fact, from 1928 – 2021, the S&P 500 averaged returns at a rate nearly double that of bonds and nearly triple that of real estate ( 11.94 percent, 6.21 percent, and 4.4 percent, respectively ). While buying stocks may seem confusing if you’ve never done it before, it doesn’t have to be. Here’s how to buy stocks in five simple steps. Table of Contents Open an Account To Buy Stocks Decide How Much To Invest Research Stocks To Buy Place Your Order Track and Manage Your Portfolio 1. Open an Account To Buy Stocks When buying stocks, you will almost always need a brokerage accoun t. A brokerage account is similar to a bank account — it’s a place where you allow a financial institution to manage your money on your behalf. The big difference is that brokerage accounts don’t just hold your money, they invest it on your behalf to help you

There are many different ways to invest in real estate , and pros and cons to each different kind of investing. You might choose to be a long-term landlord, invest in short-term rentals, REITs or fix and flip houses. Real estate wholesaling is another way to invest in real estate and may be attractive to some people. In real estate wholesaling, you usually identify potential investment properties and then quickly flip it to another investor. In many cases, wholesaling can be done with less money out-of-pocket than other types of investing, which makes it attractive to some people. What Is Real Estate Wholesaling? In real estate investing, wholesaling is usually defined where an investor (commonly known as a wholesaler) signs a contract with a property owner and then sells or assigns that contract to another investor, for a fee. Some rehabbers and real estate investors prefer to focus on rehabbing as their primary business. They may not want to deal with finding deals or negotiating

If you receive items or packages that you never ordered, you may be the victim of a brushing scam. Brushing scams are illegal in the United States and many other countries. While you may enjoy the surprise of receiving items that you weren’t expecting, brushing scams may be a symptom of identity theft. If you receive packages you aren’t expecting, there are a few steps that you might want to consider taking. What Is A Brushing Scam? A brushing scam is a term that refers to receiving parcels or packages that you did not order. There are a variety of reasons that bad actors set up brushing scams. One reason can be to artificially inflate product reviews on online marketplaces like Amazon or eBay. The seller ships their product to you (at their cost). Then, once you are a verified purchaser of the product, they use your account information to post a favorable review. Favorable reviews from verified purchasers can make a positive impact on future sales, so the seller may find that it’s

If you’re looking to secure the financial future of your family, you may be considering a life insurance policy or an annuity. But you may have some lingering questions about which option to choose – and what makes them different in the first place. In this article, we’ll explain how annuities and life insurance differ, and leave you with some practical advice to help you choose the right option for your specific situation. What is an Annuity? An annuity is a type of contract between a policyholder and an insurance company. There are several types of annuities, but all of them seek to provide monthly income while the annuity owner is still alive. The cost of the annuity depends on the type and the provider. One downside to annuities is that they often charge fees, which can significantly drive up the cost. They can also be hard to get rid of, and you may have to pay a high surrender fee if you want to dissolve the annuity.  Customers often purchase annuities because they want the