TessMore Finance Blog

During the COVID-19 pandemic, many people started working remotely for the first time. Many people are starting to return to office jobs, but others are continuing to work remotely. Without being tied down to a physical office location, we are seeing people move to different locations across the country. If you’ve lived most of your life in one location, you might be surprised to find that costs vary in different states and municipalities. What is Cost of Living? Cost of living is defined as the total amount of money that is needed to live in a particular area. One way that cost of living can be measured as either a raw monthly or annual amount. Another way that you will often see cost of living measured is as a cost of living index. The Council for Community and Economic Research (CCER) has compiled, published and studied cost of living information at the local level since 1968.  Typically a cost of living index takes the average cost of living across the whole nation and sets

Taking control over your finances becomes more and more important as you get older. The time will come when you’re fully independent and expected to pay for rent, food, and utility bills all on your own. Taking the time to learn how to budget and manage your money now will set you up for financial success in the long run. Continue reading for 15 money management tips for young adults that will help you embrace your newfound freedom and live life without unreasonable financial barriers. 15 Financial Tips for Young Adults 1. Practice Self-control One of the challenges of young adulthood is learning how to spend money responsibly. It’s easy to go to the mall and purchase a pair of sneakers on your credit card, not worrying about paying it off until the end of the month. But it would be smarter to wait until you know you have the cash, so you avoid paying unnecessary interest. If you use credit cards for most of your purchases, remember to pay your bill in full every month. Leaving

Feelings of anxiety around money are likely something we have all dealt (or are currently dealing) with at some point in our lives. In many instances, you may not even realize the stress it’s causing you unless you take the time to acknowledge it. Whether it’s feeling uncertain about being able to pay rent or being worried about your long-term retirement plan, financial anxiety can cause significant distress in our lives.  First things first, remember that these feelings are completely normal, and that you’re certainly not alone! Then, it’s important to understand that your financial situation and feelings around money can be dealt with and most importantly, improved.  In an effort to help Minters and others live better financial lives, we are partnering with Sharecare , a personalized health and wellness engagement platform, to better acknowledge the stress many of us feel surrounding money. Together, let’s better understand how stress may be the source of unhelpful financial ha

It didn’t take Addison Freeman long to realize what worked in school, wouldn’t work in real life. Those who got good grades and followed the standard playbook weren’t rewarded as plentifully on the investing front as they were in the classroom. When Addison realized it would take her over thirty years to hit millionaire status on the conventional track , she knew she needed a change. Addison started to look for, as she likes to call them, “ super assets ” or assets that grow while putting cash in your hand . She started with a house hack duplex where she was able to pay her mortgage by renting out one side. Then, she started to get into self-storage investing , which is now her husband’s main job. Along the way they tried (and failed) at starting businesses , but never took their foot off the gas on their journey to financial independence . At the age of 26, Addison and her husband are financially independent, sitting on a net worth of over $700,000 with an almost guaranteed

Families with only one income earner have a different set of challenges than those in families with two incomes. That isn’t to say that one is necessarily better or easier than the other — instead, it’s more instructive to see them as two different scenarios. What works for a family with two people working outside the home might not work for families with a stay-at-home parent. In this article, we’ll look at some of the best money advice for stay at home parents. Make a plan as soon as possible The most important thing that you can do is make a plan as soon as possible. Even if you’re not sure you want to have one parent stay at home, make a plan for what that would look like as soon as you think it might be a possibility. This might be when you’re expecting your first child, expecting another child or when your life or job situation drastically changes. One of the keys to a successful marriage or relationship is open communication. You might find that both spouses have very diffe

It’s a bit of a cliche to say that all you need to do to become a millionaire is cut out your daily latte and unused gym memberships, invest it in the stock market and sit back for 30 years. Saving for retirement , like most things in life, takes hard work and discipline. But there are two important nuggets of truth in that old cliché. It’s usually the simple changes to your habits that are the most long lasting, and compound interest is an amazing tool. So in honor of National Coffee Day, let’s take a look at how brewing coffee at home might help you get closer to your million dollar savings goal.  How does buying coffee tie into your spending for joy? The first thing to ask yourself is how much joy does coffee bring to your life. Then you can give some thought to what it is about coffee that you enjoy. Is it the energy from the caffeine? A specific flavor or experience? The act of being social with others? That will help you decide  If you like to have the caffeine but you