TessMore Finance Blog

You may have heard the term data breach in the news and wondered what data breaches are and how they affect you. Whether you realize it or not, it is not uncommon for companies to store information about most or all of their customers. This may include restaurants where you’ve paid with your credit card, grocery stores where you use a “shopper’s card”, online websites and many more. These companies may store information about you, and if that information is accessed by unauthorized people, your information may fall into the wrong hands. What is a Data Breach? Data breaches are incidents that expose sensitive Personally Identifiable Information (PII), like Social Security Numbers, bank or credit card account information, passwords or personal health information. Data breaches can be intentional (a cybercriminal or hacker accesses a company database) or accidental (an employee accidentally exposes customer information).  Governments, private corporations, hospitals and educational ins

Did you know that the average net worth by age 65 in America is roughly $1,216,000 ? Did that number just make you gasp? If so, you may be relieved to hear that knowing how to build wealth requires a relatively simple strategy: earning money, saving money, and investing money. In fact, history shows that you can completely change your financial future at any age — like one 38-year-old investor who went from $150,000 in debt to a net worth of $370,000. Even better? She plans to retire in seven years. So what is wealth , exactly? Wealth is the sum of all financial assets minus the sum of all your debts (also known as net worth). Ideally, this number remains positive at the end of the equation, but it can be negative, and that’s still okay. While many often wonder how to become rich quickly, building wealth is a long game. It’s about leveraging available tools (and exploring some lesser-known strategies) so that you can make the most of your income — no matter if you’ve just started

One of the most important things you can do for the ones you love is to create an estate plan . This process includes writing a will, which will help ensure you protect loved ones after you’re gone. Most people assume that writing a will is a costly ordeal that requires a lawyer, but you actually have a few options that could save you thousands of dollars in legal fees.  We’ll cover how much a will costs and give you some cost-effective solutions to help you choose an option. The complexity and size of your estate are going to be key in determining which option is best for you!   Do You Need a Living Trust or a Will? Including a living trust or will in your estate plan is one of the most important steps you can take to ensure your finances and family are secure after your death.  According to the American Bar Association , if you die without a will, the state you reside in will have the power to distribute your assets according to that state’s laws. Creating a trust is more compl

College is an exciting time for students to live on their own, make new memories, and create lasting friendships. What’s not exciting is the debt you might inherit once you graduate. In the last decade, student loan debt increased by nearly 70 percent , with over 43 million students facing outstanding student loan debt.  What if there was a way you could get paid to go to college and avoid taking out any student loans ? Sounds too good to be true, right? Well, we have twelve tactics for you to consider that just might help you go to college for free. Keep reading for our favorite tips or jump to a specific tactic below to learn more!  Submit a FAFSA Apply for Grants Research Various Scholarships Consider Community College Attend Tuition-Free College Check if You Qualify for Tax Breaks Become an RA Join the Military Get a Work-Study Job Seek Off-Campus Employment Serve in the AmeriCorps Ask If Your Employer Has Tuition Reimbursement 1. Submit a FAFSA Applying for fina

If you could invest money in a financial asset that has the potential to grow significantly over time — knowing that it carries some level of risk — would you do it? At its core, owning rental homes is similar to investing money in other financial accounts: You’re allocating funds to an asset with the goal of growing its value over time. Investing in real estate can be incredibly lucrative, notably generating over $430,000 in annual rental income for one 32-year-old investor.  While owning rental property can be profitable, its benefits come at a cost. Before you add “landlord” to your resume, it’s important to understand the risks , and knowing how to start investing in real estate is just the beginning. Here, we’ll unpack the benefits of owning rental property, weigh the pros and cons, and highlight some of the key considerations that property owners should understand before diving in. Key Takeaways Owning rental property can be profitable, but it comes with some downfalls.