TessMore Finance Blog

There are times when you may be asked what your total annual income is. It could be during income tax season or when you apply for a mortgage or car loan. But what does total annual income mean? What is (and isn’t) included in the calculation? In this article, I’ll show you how to calculate your annual income and explain the difference between gross and net income. I’ll also share some practical uses for this information outside of filing your taxes. Table of Contents Types of Total Annual Income Total Annual Gross Income Vs. Total Annual Net Income What Does Total Annual Income Include? Earned Income Unearned Income How to Calculate Total Annual Income How to Use Total Annual Income Total Gross Income for Reporting Total Net Income for Budgeting Final Thoughts Types of Total Annual Income There are two main types of total annual income for individuals: total annual Gross income and total annual net income. Let’s take a closer look at the similarities and di

“Should I buy a new car?” If you asked almost every personal finance pundit that question, they’ll give you a bunch of reasons why you should buy used instead. Our founder, personal finance expert Ramit Sethi , disagrees. Used cars can be a good way to go. But to apply a broad rule that “used is the best” is short-sighted. In fact, Ramit thinks there are many more reasons why people should buy a new car than used. Should I buy a new car or used car in the long run?  It will depend on the type of car you buy, and the condition you buy it in. That said, if you’re going to buy a decent make that’s in really good shape, you might land yourself a bargain.  However, here’s the rub. Do you know enough about cars to know whether you’re buying a hole in your pocket? Even if it’s a good make, you can’t be sure that the previous owner didn’t do donuts in the Best Buy parking lot after dark.  In the long run, a new car might end up costing less because there’s less to fix. All car parts h

Planning a vacation doesn’t have to be a pain. That’s why I want to show you a great system you can use to plan the perfect trip. As a personal finance expert, I keep a budget in my mind when planning my trip too. How to plan a vacation trip (and not hate yourself) Want to learn how to plan a vacation? I’ll tell you, but first: Do you know what one of my favorite parts of vacations is? No, it’s not going to awesome places. The backyard pool of my hotel room in Thailand. Or eating delicious food. Follow me on Instagram: instagram.com/ramit Or making cool friends along the way. I’m the one on the left. One of my favorite things is planning the vacation. Nothing makes me feel better than a well-formatted calendar with flight info and dinner reservations. Free mini course: Take control of your success with our new How to Design Your Rich Life mini-course . It’s a fast, fun, and free introduction to our Rich Life approach. Check out this itinerary I prepped for a recent tri

Part-time employees of Walmart enjoy several medical and financial benefits that full-time employees get. However, as with any other organization, most of the perks are entitled to full-time employees. Let us discuss what Walmart’s hourly pay rates and benefits are with current offers for part-time employees. Walmart Part-time Employees Walmart part-time employees or part-time associates are those who perform partial duty hours for the company in different roles. Part-time associates differ from contract employees who may or may not work full-time. They are also categorized differently from hourly paid workers. Your job contract will state the exact job title and contract type. It will also specify your job entitlements and employee benefits. For example, part-time employees at Walmart are eligible for medical plans and health insurance coverage plans. However, part-time employees are not eligible for some dependent coverage plans in medical, dental, and vision plans, and crit

Asset-backed securities are those financial instruments that derive their value from one asset or a pool of assets held by the issuer. Usually, we refer to bonds or notes comprising different types of debt and loan instruments repackaged and sold in the market to the investors. Let us discuss asset-backed security, how it works, and its different types. What is an Asset-Backed Security? An asset-backed security is a type of investment issued by a special-purpose entity using pooled assets through a process known as securitization . Asset-backed securities are normally issued against different types of loans issued by a financial institute . A new entity is created to securitize these loans into a pooled set of assets and sold to investors. Assets owned by the issuer institute back the securities issued through this process. Loans and mortgages are assets of banks and private lenders. Commonly used assets for these securities include home mortgages, home equity loans, auto loans