TessMore Finance Blog

Flexible savings accounts (FSA) allow you to pay medical bills with tax-advantaged dollars. If your medical insurance plan offers an FSA, you may consider contributing to it each year. Here is a closer look at the flexible savings account, how it works, along with some FSA advantages and disadvantages. Table of Contents What Is a Flexible Savings Account (FSA)? Health Care FSA Limited Expense Health Care FSA Dependent Care FSA Who Qualifies for an FSA? Maximum FSA Limit How Do FSAs Work? Enroll In an FSA Choose Your Contribution Amount Pay for Qualifying Expenses Carryover Balance FSA-Eligible Expenses Medical Expenses Dental Expenses Vision Expenses FSA Spending Deadline Flexible Spending Account Pros and Cons Pros Cons FAQs FSA Alternatives Health Savings Account (HSA) Health Reimbursement Account (HRA) Medical Saving Account (MSA) Flexible Savings Account: Final Thoughts What Is a Flexible Savings Account (FSA)? A flexible savings accou

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . When you think of interest-generating bank accounts, your mind likely goes to savings. After all, that’s your reward for building an emergency fund or socking away money for a future expense, right? A regular, end-of-month deposit into your savings account, courtesy of your bank. The good news: You can also earn interest with select checking accounts . What Is a High-Interest Checking Account? A high-interest, or high-yield, checking account offers a higher interest rate (annual percentage yield, or APY) on your money. Unlike a traditional checking account, you may have to keep a minimum balance in the account at all times and meet other requirements — for instance, pay a monthly fee, make a certain number of debit card purchases or schedule a recurring direct deposit — to earn the higher interest rate.

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . If you’ve got more experience in the field than in a cubicle, chances are you like to work with your hands and on your feet. For blue collar workers — like most everyone else in the labor force — classified ads in newspapers and billboard job postings have largely been replaced with online job boards and virtual recruiters. Here’s everything you need to know to navigate online job boards like ZipRecruiter and land a great job that fits you. What Are Blue Collar Jobs? Blue collar is a broad term, maybe even a bit of a classist one, for distinguishing jobs that require some degree of physical activity from those that don’t. Some of the smartest and most successful people in the world built their fortunes doing blue collar work. They went to work earlier than their peers, started earning much more money an

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . Starting your job search as a teenager can be an important stepping stone toward a financially sound future. Whether you want a job to start saving for college, buy a car or help your family out, making money when you’re in your teens is a smart move. Even though you’ll likely be making minimum wage, working only a few hours a week  will kickstart your savings, build your customer service skills and help you make more money in the future. But you probably have a few questions about getting a job when you’re a teenager. Like, how old do you have to be to work? And what job can you qualify for without any experience? Is your only option to serve food? We’ll discuss this and more to help you make the best decision about your first teen job. Short on time? Skip to the job search and use a website like ZipRecru

Citi will eliminate all overdraft fees, returned item fees and overdraft protection fees by summer 2022. Citi’s decision is significant because it’s the first of the top five U.S. banks to make the move. Gonzalo Luchetti, CEO of U.S. Personal Banking at Citi, said in a statement that the mega-bank now offers “the most consumer-friendly overdraft practices” in the banking business. Two bigger banks — Bank of America and Wells Fargo — announced changes to their overdraft fee policies in early January 2022 but didn’t eliminate them entirely. BofA, the nation’s No. 2 bank, is cutting its penalty from $35 to $10 and will no longer charge for bounced checks. That change goes into effect in May. By the third quarter of the year, Wells Fargo —  No. 3 of the nation’s Big Four banks — said it will give customers 24 hours to make good on overdrafts and negative balance accounts before enforcing such fees. It is eliminating its $35 penalty for returned items because of non-sufficient funds bu