We’ve scoured the web to bring you our favorite and most useful money-related articles of the week. We read everything, so you don’t have to!
When applying for a mortgage, you’ll most likely need bank statements, recent tax returns and … a college diploma? New research suggests that Millennials without a college degree may have to save for nearly 15.5 years to afford a down payment—compared to just over five years for a college grad without any debt, and 10 years for a college grad with debt. Here's how much those numbers can vary by housing market. Homeownership Elusive for Young Adults Without College Degrees — The Wall Street Journal
The summer travel season kickoff is finally here! An estimated 38 million Americans will embark on a trip this Memorial Day weekend, according to AAA. That's the biggest figure since 2005, and the second-highest on record. Here's what you can expect from gas prices and airport security lines. Memorial Day: 38M Americans to Hit the Road — Bankrate.com
Would you be able to come up with $1,000 if you were struck by a financial emergency? If you answered no, you’re not alone: Two-thirds of Americans would have difficulty coming up with the sum, according to a poll conducted by The Associated Press-NORC Center for Public Affairs Research. And it’s not just low-income households that would struggle. Poll: Two-Thirds of Americans Would Struggle to Cover $1,000 Crisis — USA Today
It turns out you can go home again, and an increasing number of Millennials are opting to do just that. Rather than living on their own or with a spouse or partner, 18- to 34-year-olds today are more likely to be living with their parents—the first time this has happened in over 130 years, according to the Pew Research Center. Find out what’s keeping them from leaving the nest. More Young Adults Now Live With Parents Than Partners — Bloomberg
The silver spoon may leave a sour aftertaste for future leaders. A study recently published in the Harvard Business Review found that people who grew up in wealthy households may make less effective leaders due to higher levels of narcissism and lower levels of empathy. Learn what else the study uncovered. Wealthy Children Don’t Grow Into the Best Leaders: Study — CNBC