February 16, 2014 |
WASHINGTON - Parents, grandparents and young adults know the problem only too well: Heavy student-debt loads, persistent employment troubles stemming from the recession, plus newly toughened mortgage underwriting standards are all standing in the way of vast numbers of potential first-time home buyers in their 20s and 30s. But are there effective techniques that family members, friends, even employers can use to bridge the generational gap by...
August 12, 2013 |
Tell The Times how your family is dealing with the current job market. Although the economy is slowly picking up, Californians of all ages are struggling with their employment situations and their finances. In many cases, family members are stepping in to help. Are you a twentysomething who is working multiple part-time jobs and living with your parents? A fortysomething supporting your parents or children? A sixtysomething who is facing depleted retirement savings and looking for work?
March 26, 2012 |
Got a problem making ends meet each month? There's an easy and cheap way to stick to a budget using envelopes. David Colker, an editor in the Business section at the Los Angeles Times, shows how to do it. This method of budgeting was popular in the Great Depression, and it is coming into vogue again in this tough economy. All you do is take an envelope for each category -- say, one for gas, one for food, one for entertainment, one for rent -- and put your budgeted amount of cash in it for the month.
December 6, 2012 |
Americans saw their wealth increase by $1.7 trillion in the third quarter ended in September, a promising sign in the thick of the holiday shopping season. Total household and nonprofit net worth - the difference between the value of assets and liabilities - climbed 2.7% to nearly $64.8 trillion from $63 trillion the previous quarter. A year ago, the gauge was at $58.7 trillion, according to a report Thursday from the Federal Reserve. Households enjoyed a $301 billion bump in the value of their real estate holdings; the value of stock investments increased as well.
November 11, 2008 |
Higher college costs and steep losses in college savings plans are forcing students and their parents to borrow more money -- if they can -- to earn bachelor's degrees. Federal officials, fearing that the continuing credit crunch may stymie college financing efforts, tried Saturday to reassure families that funds would be available.
February 11, 2014 |
Colleague Don Lee wrote a piece in Tuesday's L.A. Times about a new Pew Research Center study, "The Rising Cost of Not Going to College ," that finds getting a college education is still the best path to a financially successful life, the current economy notwithstanding. Of course, no one - especially poll takers, who measure the present and the past - can predict the future. But the Pew findings are pretty compelling, even as they obscure a more significant point: The benefits of a higher education aren't limited to a paycheck.
April 19, 2009 |
Couples in the process of divorce spend a lot of time divvying up their assets. But in today's miserable economy, experts maintain that soon-to-be-exes should take even greater care dividing up the debts. Otherwise, your former spouse's job loss could end up hitting your balance sheet -- and credit report -- years after you think the divorce is settled.
September 28, 2012 |
Bank of America has agreed to pay $2.43 billion to settle a class-action lawsuit filed in 2009 by investors following its acquisition of Merrill Lynch. The settlement, announced Friday, still requires court approval. In addition to the payout, Bank of America agreed to institute new corporate governance policies, the bank said in a statement. The bank said it denied the suit's allegations, which included that executives made misleading statements about both firms' financial health.
September 4, 2012 |
Join us at latimes.com for a live video discussion at 2 p.m. Pacific time (5 p.m. Eastern) about the import and impact of the youth vote in the 2012 election. In 2008, President Obama's campaign mantras of hope and change resonated strongly with America's voting youth. He won the presidency with 66% of the 18-to-29-year-old demographic. Fast forward to 2012, the next generation of college students and young voters are faced with overwhelming student debt and an ominous employment outlook while Obama has been in office.
February 21, 2013 |
The millennial generation is aggressively whittling down its debt, as young people forgo homes and cars, according to a new study. The median debt of households headed by people under age 35 fell 29% between 2007 and 2010, according to the analysis from the Pew Research Center. That compares to a mere 8% decline for households of those 35 and older. Even more impressive, the percentage of younger households with debt of any kind dipped to 78%, the lowest since the federal government began gathering the data in 1983, according to the study . But it ain't coming easy.