Young Money Articles

Some Return to Work, But Get Paid Less

Jobs were not just destroyed during the Great Recession - some were created too, in the endless churn of labor that characterizes the American economy. As young workers and laid-off employees alike struggle back to work, though, many are finding that they must settle for lower pay and prestige in their new positions, reports the New York Times.A large number of well-paid construction and manufactu Read more...

Bankruptcy Management – Chapter 7 or Chapter 13?

In the face of overwhelming debts and rising costs, individuals sometimes find that best option may be to file for bankruptcy. Although it sounds to many like the end of the world, the bankruptcy laws in the U.S. allow many individuals and families to file and then move on with their lives.There are two basic types of bankruptcy filing for individuals: Chapter 7 and Chapter 13. The latter is more  Read more...

Compounding Your Earnings through Reinvestment

The physicist Albert Einstein apocryphally said that "compound interest is the most powerful force in the universe." Whether or not the quote is real, the sentiment remains intriguing - and it has powerful implications for your investment strategy.Interest isn't the only thing that compounds - whenever gains are reinvested, the principle of compounding gains applies. The math here is sim Read more...

How to Choose a Financial Planner

Choosing a financial planner is an important decision - you should approach it with the same level of seriousness that you would apply to buying a house or a car. After all, this person is going to be in charge of managing your life savings and wealth.First of all, you want to inquire into their professional certification and experience. A planner should probably be a certified public accountant ( Read more...

More Homeowners Refinance to 15-year Mortgages

Interest rates are at record lows - and homeowners aren't shy about taking advantage of that fact. More and more, Marketwatch reports, they're refinancing their mortgages to lock at rates below 4 percent in exchange for a shorter payment term.Over a quarter of homeowners who refinanced in the first six months of 2010 chose a 15-year fixed-rate mortgage; that's up from 18.5 percent who did so in 20 Read more...

Thinking About Buying a House? Think Again

The following advice, it's important to note, is bad for the economy. However, it might be good for you. If you're a young worker or entrepreneur considering purchasing a home, because mortgage rates and prices are so low, you should probably reconsider.Economists and analysts argue about whether the economy as a whole is entering a debt-deflation spiral. Housing, though, is definitely stuck in on Read more...

Saving Money and Saving Friends

Most people will, at some point in their lives, be called upon by a friend - or even a family member - for a loan. In these perilous economic times, this appears more likely than ever, especially with credit still tight in the wake of the financial crisis.When a friend asks you for a loan - to help them get out of debt, cover rent, start a business or maybe just pay a bar tab - you need to think l Read more...

Is New York the Next Silicon Valley?

A Wall Street Journal feature suggests that New York City may be sneaking up on Palo Alto, California as the best place for entrepreneurs to get started on a new tech business. In a reversal of the traditional paradigm, Silicon Valley now represents the old, the traditional, even the "establishment." New York, say some entrepreneurs, is a bit more rough-and-tumble, a bit more innovative. Read more...

Thirty-seven States Add Jobs, But Economy Remains Fragile

For once, it looks as if the best place to look for a job was Detroit - employers in the state of Michigan added 27,800 jobs in July, more than any other state. Most of the big gains were in the north of the country, with Massachusetts, New York and Minnesota trailing the Wolverine State.Manufacturing jobs nationally increased by 36,000, marking the seventh consecutive month of gains. General Moto Read more...

Starting a Business? You Need a Website and a Simple CMS

If your business  doesn't have a website these days it feels almost like it doesn't exist. Of course there are businesses which do not need a website. Plumbers come to mind.  But think about it for a minute. Everyone researches new business relationships or new vendors online. So if there isn't any information there, you might not get that business. At the very least a brochure-like site which d Read more...

Franchises Offer Opportunity for Entrepreneurs

In a market where money is tight and people seek the safety of familiarity, franchising offers an island of opportunity for young entrepreneurs hustling to make their money. Small businesses have been particularly hard hit by the recession, with smaller cash reserves and less capital to weather tough times. Reuters reported Wednesday on the shift some existing businesses are making, as they volunt Read more...

Best Credit Cards for College Grads and Students

Odds are, you've been getting credit card offers since you turned 18, or even earlier. The credit card industry sent out 1.1 billion offers in the second quarter of 2010 alone, more than twice as many as they did in 2009. Despite dire predictions, the industry is far from failing.So what are the best credit cards you, as a young worker or student, can get? That depends on your needs, but there are Read more...

How to Cope with Rising Unemployment

Unemployment claims increased last week, exceeding the pessimistic estimates of most analysts and putting the future of the economic recovery in doubt. More people are being laid off, after a brief respite during the past few months, and fears of a double-dip are growing.How do you cope in a time of increasing unemployment? When the economy stutters, it becomes more likely that you or people close Read more...

Young Adults Redefining Life’s Progress

Young Adults Redefining Life's ProgressA new path to adulthood: That's the theme of a new article in the New York Times Sunday Magazine. Not a new one, perhaps, but an important one - backed by several key figures.The lives of young people, rich and poor, are volatile. A third of people in their 20s live in a new place every year, says the Times; 40 percent will move back home to live with their p Read more...

Find a Job with Fast Growing Companies in 2010

Who's hiring?  A company that's growing fast, that's who. And luckily for you, Inc. just announced their annual list of the  5000 fastest growing companies. I'm not saying you will find a job necessarily. However, if a company is growing and you can get your foot in that door it will set you up for a nice future. As the company grows, they will need to hire people behind you which means that you Read more...