TessMore Finance Blog

If you use the Cash App and find yourself in a financial pinch, there may be a short term solution. The Cash App is something I only recently discovered when I was researching various PayPal alternatives. It was fun to discover that you could very easily get free money on the Cash App , kind of like PayPal in the early days. Then I learned of all the fun boosts, contests, and other interesting tweaks they added to what’s ostensibly a payments platform. I recognize that a lot of them can be just a distraction but if you use the app as your main payments platform, you’re better off with these boosts and contests than without. That said, one feature they rolled out last year that caught my eye was the ability to borrow money. Sometimes your finances get a bit out of sync, especially if you’re paid bi-weekly, which is why so many fintech companies offer paychecks 2 days early. Cash App has upped the ante by offering a short term loan (not cheap but accessible) to qualified users: Ta

A new year is an opportunity for a fresh start. From losing weight to starting a new hobby, there are a few resolutions that people frequently come back to again and again when determining what they want to change about their lives. Improved financial stability is another goal that we all seem to strive for consistently — but often fall short on. Only 19% of Americans have enough cash saved to cover three to five months of living expenses in case of an emergency, for example. And although we’ve previously recommended three to six months’ worth of expenses on hand, we’re now encouraging 12 months since the pandemic has proven that your situation can change drastically at a moment’s notice. The point is, if you feel overwhelmed because you’re not in the best place financially, you aren’t alone. The good news? 2022 offers many opportunities to improve your money management and attain greater stability and long-term financial health. The key to success is strategic planning informed by

If you have kids under 18, odds are that you’ve been getting an extra $250 to $300 per child each month, courtesy of the advance child tax credits that began in July. But that much-welcomed extra cash is about to end. The payments scheduled for Wednesday, Dec. 15, will be the final round for the monthly child credits. Why Are the Child Tax Credits Ending? In March 2021, President Joe Biden signed the $1.9 trillion American Rescue Plan into law. Along with $1,400 stimulus checks for most Americans, the bill provided a temporary child tax credit boost . “Temporary” is the key word here. The bill raised the value of the child tax credit from the typical $2,000 maximum per child. For 2021 only, the credit increased to $3,000 for children ages I6 to 17, or $3,600 for each child under age 6. Half of the credits were available as monthly installments. Since July, parents who qualify have received up to $250 a month for each child between 6 and 17, and up to $300 a month for each child yo

Thirty years is a long time. If you’re chipping away at a mortgage each month, it can feel even longer. But what if you could eliminate that financial ball and chain by paying off your mortgage early? The truth is, if you can scrape together the equivalent of one extra payment to put toward your mortgage each year, you’ll take, on average, four to six years off your loan. You’ll also save tens of thousands of dollars in interest payments. We’ll break down exactly how it works, how much you can save and strategies you can use to squeeze an extra mortgage payment out of your budget. How It Works Most people can’t afford to buy a house outright in cash. Instead, you pay a percentage of the total cost, known as a down payment , and take out a loan for the rest. That’s your mortgage, and it’s typically paid back over 20 or 30 years. Principal and interest are the main components of your mortgage payment. The principal is the original amount you borrowed and interest is what mortgage

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 . Buying a house is expensive. Like, so expensive. Between down payments, taxes, insurance and more, getting your name on a deed likely costs more than anything else in your life. And while it no doubt will continue to be your biggest monthly payment, people are still overpaying just to have their own roof over their heads — sometimes by as much as $3,600 a year. But a website called Mortgage.net can help you put that cash back into your pocket. Whether you’re refinancing or buying a new home, it can save you an average of $300 a month. See How Much You Could be Saving on Your Mortgage Homebuyers and homeowners can get some of the lowest interest rates available — as low as 1.997% for a 15 year fixed refinance — from some of the most trusted lenders in the country on mortgage.net. That comes out to an

The perfect holiday gift doesn’t have to be something you buy from the store, cover in wrapping paper and place under the tree. Giving friends and family members an experience gift is just as wonderful — and it’ll create memories that last far beyond the holiday season. Gifting experiences like concert tickets, a trip to a theme park or an overseas vacation, however, can get pricy. This list of affordable experience gifts will give you ideas for everyone on your Christmas list without having to spend a ton of money. 38 Experience Gifts That Won’t Break Your Budget Move beyond material presents with these affordable experience gift ideas. 1. DIY Spa Treatment Recreate a spa day experience at home using ingredients you already have on hand. Make a moisturizing face mask with yogurt, honey or oatmeal. Or create a sugar scrub to exfoliate the feet. Really sell the DIY spa experience by lighting candles, putting on some calming music and serving cucumber water. 2. Cook a Gourmet M

Every now and then, The New York Times gives us an awesome new personal-finance tool. Back in 2007, they created an amazing rent vs. buy calculator , which they've diligently updated and maintained over the past fifteen years. A couple of weeks ago, they unveiled their where should you live? tool. [Warning: possible paywall, which is unfortunate.] Here's how it works: We created a quiz using data for almost 17,000 places across more than 30 metrics. Realtor.com shared housing prices with us; Yelp contributed tallies of restaurants, music venues and gay bars; and AccuWeather helped us collect statistics on temperature, sunshine and snowfall, to name just a few of our sources. We want the quiz to be useful to anyone who’s thinking about moving — not just affluent, highly educated people who are working remotely because of the Covid pandemic. We’ve included data on affordability, jobs and abortion rights, which could be relevant to young people deciding where to start their

In our recent post, What is a Self-Directed IRA? , we provided a basic understanding of how self-directed IRAs (SDIRAs) work. In this article, we will present what we believe to be the seven best self-directed IRAs. Or better put, the seven best self-directed IRA custodians. Much like investment brokers and robo-advisors that act as custodians for regular IRAs, self-directed IRA custodians are there to accommodate this particular type of IRA. An SDIRA is an IRA in which you can hold alternative assets, particularly physical assets, like gold bullion and real estate. But you can also store other types of assets not permitted in regular IRA accounts. These include tax liens, private equity, oil and gas leases, peer-to-peer loans, and even raw land, among other asset types.  An SDIRA custodian provides a place to park these assets. They neither sell them nor choose which assets you’ll hold. Instead, you – the plan holder – decide where to invest. The custodian will purchase the asset

Did 2020 feel like an especially long year? (no, not because of that!) That’s because there were 262 work days – you worked 53 Wednesdays and 53 Thursdays! Ever wonder how many work days and work hours are in each year? Seems like a simple question, right? And if you don’t need to be precise – it’s is. In general, there are 52 weeks in each year and 40 hours per work day. This equates to: 260 Work Days in a Year 2080 Work Hours in a Year However, there are a lot of different exceptions to these general rules. Not every year has the same number of weekdays. Not every year has the same number of days (leap years). While the general rule of thumb is often good enough, there’s an easy way to calculate the exact number of work days and work hours each year: Table of Contents Standard Year – 52 Weeks, 2080 Hours How to Quickly Count Work Days Leap Year – 366 Days Work Days in Each Year Remember Holidays Standard Year – 52 Weeks, 2080 Hours If you work a corporate jo

So you’ve bought yourself some nice sheets. Maybe even dropped $100 on that fancy queen set. Those nice sheets need to be washed. Here’s the rub: Sometimes, when you wash those nice sheets, you ruin those nice sheets, and have to buy new nice sheets. Repeat the pattern. Want to break the pattern? We spoke with the experts about how to properly wash, dry and store your bed sheets to protect your investment. Tips for How to Properly Wash Bed Linens Follow these strategies to ensure your bed sheets will last. Water Temperature for Washing Sheets Check the material of the sheets to ensure you’re using the proper heat setting, says Nora Mitchell, the editor-in-chief of Household Advice , a California digital publication that covers home repair, DIY projects and design. But even after following the directions, it’s tricky. The hotter the heat setting, the worse it is for the fabrics, as the heat breaks down the delicate fabrics. But you need heat to get rid of bacteria, dirt and stai

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 . The holidays get expensive fast. Checking off everyone on your list can be daunting, especially when you consider the impact on your bank account. The average American plans to spend $837 on holiday gifts in 2021, according to Gallup . That’s not much more than people spent in 2020, and continues to be down from pre-pandemic norms. A lot of us are still hurting economically. But we’ve got an early holiday gift for you: a list of 100 free gift ideas. Ready to get started? Gifts are divided into categories, so you can easily scroll to find the type of gift you need. Or, read the whole list and find inspiration for a frugal, fun and FREE holiday season! Food and Drink If your kitchen isn’t well stocked, you’re going to have to buy ingredients like flour and sugar. But if you already have the supplies, you c