TessMore Finance Blog

When it comes to buying a home, most people are aware that they need to budget for a down payment on their mortgage. However, a down payment isn’t the only upfront cost you’ll have to fork over — you’ll also need to pay closing costs. To make sure you have enough cash to close the deal, use our closing costs calculator to estimate how much you might need to pay. With this estimate in mind, you can factor these costs into your budget and plan to save enough money to buy the house of your dreams. What Are Closing Costs? Simply put, closing costs are the various expenses that come with purchasing a home. These expenses are charged by your lender and title company for the following services they provide during the home buying process: Originating your mortgage /home loan. Transferring the property from seller to buyer. Typically, about three business days after applying for a loan, your lender will send you a Loan Estimate, which is a standardized form detailing your

Depending on the type of loan that you have and the amount of equity you have in your home , your monthly mortgage amount may include Private Mortgage Insurance (PMI). PMI helps protect the lender if you stop making payments or go into default on your mortgage. If you are paying PMI on your mortgage, you may be wondering how to get rid of PMI. The good news is that, depending on your situation, you may be able to stop paying PMI and lower your overall monthly mortgage payment. What Is Private Mortgage Insurance (PMI) Private Mortgage Insurance (PMI) is an insurance policy that protects the lender in case of default. While there are a variety of ways that PMI is charged, often it is included as an additional monthly payment. PMI is not always required on all mortgages — usually it is required if you are purchasing or refinancing a home with a conventional loan and are making a down payment of less than 20% or have overall home equity of less than 20%. Why Does PMI Exist? There are a

Neobanks and financial technology companies (fintechs) are becoming increasingly popular by making banking easier and more accessible for a broader audience of consumers. It’s no longer necessary to visit a brick-and-mortar location to conduct most personal banking transactions. HMBradley takes online banking one step further with its combination of attractive banking features. But the competition is stiff, and other fintechs are also fighting for your business. In this HMBradley review, I’ll cover everything you need to know, so you can decide if you should take advantage of HM Bradley’s banking benefits.  HMBradley Announcement on September 29th, 2022 On September 29th, 2022, HMBradley posted an update on their website regarding upcoming changes to their banking partnerships. Specifically, they are transitioning away from their relationship with Hatch Bank and will now be partnered with New York Community Bank (NYCB). According to HMBradley , the new partnership will allow

Financial mathematics (also known as mathematical finance, quantitative finance, computational finance, and financial engineering) is a field of applied mathematics that applies mathematical methods to financial problems. Probability, stochastic processes, statistics, and economic theory are common terms used in financial mathematics books, helping analysts gain detailed insights into business performance, the industrial market, profitability, and growth potential. However, quality investment in time, dedication, and effort is required to excel in this subject. You would want to grasp the best knowledge to outsmart the competition. So, in the following guide, we have covered the top 7 best financial mathematics books to help you work with numbers, understand the problems related to financial management, reduce mathematical errors, and increase profit. Key Takeaways: Other names for financial mathematics are mathematical finance, quantitative finance, computational finance, and fi

Project management is the application of specific information, expertise, tools, and procedures to yield something of worth for people. We need to go deeper into the definition of a project to comprehend project management. Projects are essentially short-term attempts to make a profit through distinctive goods, services, and procedures. Project Management Books provide different strategies and tactics based on your project’s requirements. Advanced project management systems, such as WP Project Manager, make it much easier to implement these ideas. Quality Project Management Books will show you how to create the most practical and feasible strategy for dealing with all types of projects and strategic objectives. Key Takeaways Here are our picks for the 10 best project management books: Strategic Project Management Made Simple: Practical Tools for Leaders and Teams The Getting Things Done Workbook: 10 Moves to Stress-Free Productivity Project Management For The Unofficial Projec

Does it ever seem as if earning big money is impossible? Surprisingly, million-dollar jobs are more common than you might think. They’re not everywhere you look, and in most cases, they need to be developed or even created from the ground up. But once you decide what you want to do, it may just be a matter of applying plenty of elbow grease over as many years as it takes to make it happen. If you desire to earn seven figures, we’ve provided the following list of job possibilities. Some seem conventional, even obvious, others not so much. As you read the reviews below, keep in mind that we’re focusing on the highest end of the pay scale in each field. If you research job boards, you’ll likely find much lower average pay levels. We’re not covering average pay for average people but top pay for those who are willing to put in the effort to make it happen. And it can happen. Table of Contents Company Executives Entrepreneurs Real Estate Agents Investment Bankers Franchise Owner

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

Prospective entrepreneurs usually do a good job of identifying their potential costs of doing business, with one exception. They’ll get an idea of most of the major legitimate business expenses — space and rent, materials and supplies, travel and entertainment — but they’ll often miss one of a new business’ biggest costs: the wages of the owner. As a business owner, you, too, are an expense. There are many  reasons people become entrepreneurs: They may want the freedom of time, whether that actually exists or not; they may want creative control; they may have a unique idea or a unique twist on an existing idea. Often, their reason is coupled with a desire to make money. After all, a business that is designed to not make money isn’t a business — it’s a hobby. If you make a product or service and sell it to family or friends with intent to break even financially, you are not in business. A business exists to make money. A hobby is recreation. Recreation is important, and your business