TessMore Finance Blog

I've changed the way I shop over the past few years. And although the shift has been subtle, I've found that I'm much happier with the things I buy. In the past, my approach to shopping was simple. If I wanted a new thneed , I would go to a store (or, with the advent of the internet, a website) and choose from the available thneeds. I'd look at the store's selection (or the website's selection) and pick the one best suited for me. If the thneed I wanted was particularly expensive or important, I might expand my search to multiple stores or multiple websites. But usually, I stuck with the first store I visited. The key point here is that I allowed the places I shopped to impose limits on the thneeds available to me. I think of this approach as “store-centered shopping”. Whatever the store has in stock defines my universe of options. Now that I'm older, I've flipped the script. Instead of allowing the marketplace to define which thneeds are available ...

I recently attended a local estate planning seminar geared for and marketed to older adults. I decided to go “undercover” to see if there was any evidence of manipulative sales practices masquerading as “financial education.” Sadly, I found some. Specifically, a presenter who was not an attorney and had no recognized financial planning designations whatsoever pitching the legal services of a colleague who was not in attendance. The original program publicity contained neither the name of the sponsoring company nor the presenter’s name or credentials. Barbservations I counted at least 50 times the presenter used the phrase “I’m not an attorney but…” and at least 30 pitches for revocable living trusts as suitable for everyone without considering the specifics of their financial situation. The presenter also threw out many legal terms (e.g., A/B trust) without explaining them, disparaged the probate process repeatedly, and occasionally presented dated information (e.g., incorrect gif...

A few years ago, I was walking through a soccer field behind our local library when I saw a glint in the grass. 2017 Quarter (left) vs. 1957 Quarter (right) I walked over and was surprised to see a quarter sitting there. Score! But wait, there’s more – the quarter looked “off.” It looked a little grayer and duller than a regular quarter. It turns out that I’d found a 1957 silver quarter. Quarters minted between 1932 and 1964 are 90% silver. They’re worth more than a typical quarter because of all that precious metal . Even scuffed up with no unique characteristics, it’s worth more than five bucks (it varies based on the price of silver). A fun little find! It’s not uncommon to find silver quarters since the US Mint produced them for over thirty years – but some other coins are floating out there that are worth even more. Table of Contents The Morgan Silver Dollar 1955 Doubled Die Penny 1982 No Mint Mark Roosevelt Dime 1997 Double-Ear Lincoln Penny 2008-W Silver Eagl...

It's always fun to unearth some esoteric piece of personal-finance history. I know there are only a few nerds out there who care (hello, Grant Sabatier !), but those of us who care really care. Two years ago, I published an article exploring the history of financial independence in which I noted that the earliest reference I can find to the notion of financial independence comes from an 1872 book called Money and How to Make It by H. L. Reade. And it wasn't until the 1950s that the concept of early retirement (at least in the sense we mean it today) gained traction. But despite my research, I still have questions, such as: What's the source of the modern FIRE movement? Who Coined the Term FIRE? Recently at The Retire Early Home Page — a site so old that it existed (and still exists) at the dawn of the web — John P. Greaney answered the question: Who coined the term FIRE? If you've never visited The Retire Early Home Page , you should. I'm certain that it...

If you’re like me, you have a lot of competing priorities for your time. There’s only so much time in the day and if you aren’t careful, it’s easy to spend too much time on things that seem urgent and important but are neither. This is especially problematic when it comes to your money because there are a lot of things that demand your attention, and often your guilt, but they usually don’t move the needle. Today, I’m going to share a framework for thinking about the tasks you have and how you should be prioritizing and handle them. Table of Contents Urgent and Important Matrix 1. Not Important, Not Urgent Tasks “Fixing” Your Morning Coffee / Avocado Toast Checking Your Stock Portfolio 2. Not Important, Urgent Tasks Updating Your Monthly Net Worth Paying Credit Card Bills 3. Important, Not Urgent Tasks Rebalancing Your Asset Allocation Improving Yourself 4. Important, Urgent Tasks Dealing with a financial emergency Saving for retirement Urgent and Impo...

Are you caught in the trap of not being able to get a credit card because you don’t have credit? Or maybe your credit history isn’t the greatest, and you need someone who will give you a chance? Building credit without a credit card is possible, but secured credit cards can help you reestablish your credit while offering the convenience of owning a credit card. But not all secured credit cards are equal. The fees and flexibility differ between products, so you have to do your research before settling on one specific card. The Reflex Mastercard is a secured credit card designed for those trying to build or rebuild their credit. It’s easy to qualify for, and you gain access to several Mastercard benefits. But how does it work, and can it compete with other top cards from Capital One, Indigo, or Chime? I cover all of this and more in this Reflex Mastercard review. Table of Contents What Is Reflex Mastercard? Reflex Mastercard Features & Fees Reflex Mastercard Benefits H...

For many years, credit unions didn’t get as much attention as commercial banks. They are typically smaller, limited to a small regional footprint, and they tend to focus more on their existing members rather than trying to entice more people to join. But as credit unions gain in popularity, we’re starting to see them increase their marketing budgets and, this point being more appropriate for you right now, their bonuses. In fact, just a few years ago, I didn’t see that many credit unions offering a new account bonus. Today, you can find several very popular bonuses from credit unions with very liberal membership policies. Here are some of the best bonuses: 💰 Get up to $2000 from a Citi Priority Account Today! Citi Priority is offering up to $2000 when you open a Citi Priority Account by 1/9/2023. Then, within 20 days of opening your account, deposit New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus is based on the amount you transfer...

Once upon a time, job hopping was seen as unprofessional and unnecessary. In fact, it was relatively common to spend your entire career working for one employer, gradually working your way up the company ranks and receiving regular pay raises along the way. But these days, maintaining an upward career trajectory usually requires a little more job mobility. That means keeping your eye open for new opportunities and leveraging your current salary and benefits for something better. But while job hopping is often necessary, there are instances where it can do more harm than good. Let’s take a look at the pros and cons of job hopping, and go over some strategies for doing it. What is Job Hopping? Job hopping refers to the idea of switching employers more than normal, usually after less than two years at a company. Job hopping often has a poor connotation because some people think it means you can’t handle commitment or that you’re a picky employee. Pros of Job Hopping May earn more mo...

With interest rates rising, many investors want to take advantage of the highest deposit rates they’ve seen in years. Since there’s no guarantee that current rates will remain at their current level, many would are looking to Certificates of Deposit (CDs) because they offer an opportunity to lock in current rates for as long as five years. But one of the dilemmas for savers in the current environment is the possibility of locking in a CD for several years, only to watch rates continue to rise. The solution may be to take advantage of an attractive no-penalty CD rate. A no-penalty CD lets you withdraw some or all your funds from the certificate before the maturity date without paying an early withdrawal penalty. You may also liquidate the certificate in favor of a higher-yielding instrument at a future date. There is a trade-off, however. The increased flexibility means that the rates are slightly lower than for regular-term CDs. But if you want to combine a competitive rate with l...