News
Money Management: The Importance of Financial Literacy
You may have mastered the core subjects like math and grammar in school, but financial literacy – or understanding the basics of money management in order to help you make better financial decisions – often goes overlooked before adulthood. It’s not so much a course of study as it is a plan of action. When you understand how to earn, save, spend and invest wisely, you aren’t just building a stable future for yourself, but your family and community as well.
Last Updated on May 11, 2026 by Daily News Staff
(Feature Impact) You may have mastered the core subjects like math and grammar in school, but financial literacy – or understanding the basics of money management in order to help you make better financial decisions – often goes overlooked before adulthood. It’s not so much a course of study as it is a plan of action.
Financial literacy in the United States has remained stagnant at generally low levels for several years, according to research from TIAA Institute and the Global Financial Literacy Excellence Center, with even lower levels among Gen Z. Yet greater financial literacy – including key aspects such as goal-setting, budgeting, saving, credit management and investing – is strongly linked to better financial outcomes, including lower rates of debt constraint and financial fragility.
While emboldening yourself to understand financial terms can be a little overwhelming at first, once you have a grasp of basic concepts you can begin to get a handle on your money and make better financial decisions. Simply put: When you understand how to earn, save, spend and invest wisely, you aren’t just building a stable future for yourself, but your family and community as well.
From nonprofit partnerships to volunteer-led programs and fee online resources, Schwab and its employees help millions of people every year build the knowledge and confidence to take charge of their financial futures by serving as board members, mentors, role models and educators.
Because financial health is a lifelong journey, the earlier people learn vital money skills, the better. That’s why the financial advisory services provider develops education programs geared toward kids that continue into adulthood, helping people no matter where they are on their journeys.
Talk Money
It’s never too early to start a conversation about financial literacy. Having teens identify goals that are important to them – such as concert tickets or a first car – can kickstart coversations about money. Working with your child (and a financial advisor, if necessary) on a plan for saving to realize those goals can serve as a jumping off point. After achieving some success, their enthusiasm may grow, which is a powerful motivator to keep saving.
Support School Initiatives and Programs
Outreach programs that empower young people to make smart financial decisions is key to a bright future. Programs like Money Matters – Schwab’s flagship financial education program utilized by the Boys & Girls Clubs of America – gives young people hands-on experience with all aspects of money and investing.
This example, and others, don’t just include program funding – they build partnerships that create impact and opportunity with national collaborations that reach more than 17 million youth annually, empowering young people with the tools and confidence to make smart financial decisions for life.
Spread the Financial Love
Championing financial literacy empowers everyone – individuals, families and communities. By serving as a board member, mentor, role model or educator to help bring financial literacy to others in your community, you can supply the tools and knowledge to lead programs that focus on giving back, empowering future generations in countless ways.
To learn more about financial literacy and find resources to empower your local community, visit SchwabMoneywise.com.
Photo courtesy of Shutterstock
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News
Black Los Angeles Is Shrinking—and Spreading Across the West
Black Los Angeles has changed dramatically over the past several decades. Explore why its population declined, where families moved, and which neighborhoods continue to anchor the region’s Black community.
Last Updated on August 21, 2026 by Daily News Staff
Black Los Angeles?
For much of the 20th century, South Los Angeles was the center of one of the most influential Black communities in the western United States. Neighborhoods such as Watts, West Adams, Crenshaw, Baldwin Hills and Leimert Park produced political leaders, musicians, entrepreneurs and cultural movements whose influence reached far beyond Southern California.
That community has not disappeared, but it has become smaller and considerably more dispersed.
Census figures show that Los Angeles has experienced a sustained decline in its Black population, particularly within the city and the older communities of South Los Angeles.
A decades-long population decline
In 1990, approximately 454,000 Los Angeles residents identified as non-Hispanic Black alone, representing about 13% of the city’s population. By the 2020 Census, that number had fallen to approximately 323,000—or about 8.3% of the population.
The same pattern is visible across Los Angeles County.
The county’s non-Hispanic Black population declined from approximately 935,000 in 1990 to about 761,000 in 2020. Between 2010 and 2020 alone, it fell by nearly 55,000 people, even as the county’s total population increased.
These numbers do not include everyone with partial Black ancestry or those identifying as multiracial. Nevertheless, the figures reveal a clear geographic and demographic shift.
Black Los Angeles has not simply vanished. It has spread outward.
Why have Black families left Los Angeles?
Housing costs are one of the most important factors.
As rents and home prices rose, many working- and middle-class families found it increasingly difficult to remain in neighborhoods where their families had lived for generations. Redevelopment and gentrification placed additional pressure on renters and homeowners, particularly in areas near downtown Los Angeles and new transit investments.
Older homeowners could sometimes benefit from rising property values, but their children often could not afford to purchase homes nearby. Selling a Los Angeles property also gave some families enough equity to buy larger or newer homes elsewhere.
Researchers at UC Berkeley’s Terner Center found that Black households were disproportionately represented among lower-income residents leaving the Los Angeles region.
Employment changes also contributed. Los Angeles lost many of the manufacturing, aerospace and industrial jobs that had helped support Black working-class families during the postwar period. Meanwhile, metropolitan areas in other states offered lower housing costs and growing professional communities.
Where did people go?
A significant portion of the movement remained within Southern California.
Lancaster and Palmdale in the Antelope Valley attracted families from South Los Angeles, Compton and Inglewood. Others moved east into Riverside and San Bernardino counties.
Between 1990 and 2021, Riverside County’s Black population grew from approximately 64,000 to more than 156,000. San Bernardino County’s Black population increased from approximately 115,000 to 174,000 during the same period.
The Urban Institute concluded that many Black residents leaving Los Angeles County likely settled in these neighboring Inland Empire counties.
Other families left California entirely. Las Vegas and Phoenix became important destinations for people seeking comparatively affordable housing while remaining relatively close to Southern California.
Farther away, Atlanta, Dallas–Fort Worth, Houston and Charlotte have attracted Black professionals and families as part of what researchers call the “New Great Migration”—a movement of Black Americans toward metropolitan areas in the South.
Where are the remaining Black population centers?
The strongest concentration within the city continues to run through the Crenshaw district and surrounding neighborhoods.
Leimert Park remains the symbolic and cultural heart of Black Los Angeles. Baldwin Hills, Baldwin Vista, Hyde Park, West Adams and Crenshaw also retain important Black institutions, churches, businesses and homeowners.
Immediately outside the city, View Park–Windsor Hills and Ladera Heights remain two of the county’s most prominent Black middle- and upper-middle-class communities. Recent American Community Survey estimates indicate that approximately 55% of Ladera Heights residents identify as Black.
Inglewood remains another major center of Black cultural and commercial life, despite its transition into a predominantly Latino city. Central and northern Inglewood, particularly areas near Morningside Park, View Park and Hyde Park, retain substantial Black populations.
Farther south, Black communities remain in Westmont, West Athens, Carson, Gardena, North Long Beach and portions of Compton. Most of these places are no longer majority-Black, but they continue to contain significant populations and long-established community institutions.
Lancaster and Palmdale now represent one of the county’s largest suburban concentrations of Black families. Unlike the compact neighborhoods of historic South Los Angeles, however, the Antelope Valley population is distributed across a much larger area.
Altadena was another important center of Black homeownership before the January 2025 Eaton Fire. The community’s Black population had already declined from its 1980 peak, but west Altadena still contained generations of Black homeowners. The fire destroyed or seriously damaged many of those homes, leaving the community’s future uncertain.
A community transformed, not erased
Today’s Black Los Angeles is more fragmented and suburban than the community that existed during the second half of the 20th century.
Leimert Park, Crenshaw and Baldwin Hills remain culturally significant, but they are now part of a much wider network extending from Inglewood and Carson to Lancaster, Palmdale and the Inland Empire.
This transformation presents a challenge for maintaining political representation, neighborhood institutions and cultural connections. A population that once lived within a relatively concentrated area is now spread across multiple cities, counties and states.
The story, therefore, is not simply that Black Los Angeles declined.
It is that rising housing costs, economic changes and suburban migration redrew the map of Black life in Southern California.
Sources: U.S. Census data compiled by Los Angeles Almanac, Urban Institute, UC Berkeley Terner Center and Brookings Institution.
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Automotive
EV Interest Climbs as Gas Price Uncertainty Pushes Families Toward Electric SUVs
With ongoing uncertainty surrounding global oil prices, more U.S. consumers are buying and showing more interest in electric vehicles (EVs). The shift comes as car shoppers weigh fuel costs, improving affordability and a growing number of family-friendly electric SUVs.
EV Interest Climbs as Gas Price Uncertainty Pushes Families Toward Electric SUVs
(Feature Impact)With ongoing uncertainty surrounding global oil prices, more U.S. consumers are buying and showing more interest in electric vehicles (EVs). The shift comes as car shoppers weigh fuel costs, improving affordability and a growing number of family-friendly electric SUVs.
Watch this video to learn more
According to Spectrum News, EV sales increased in the first quarter of this year. In the same time frame, interest in new EVs increased 16% and interest in used EVs increased by 30%. As families look for opportunities to ditch the gas pump without sacrificing power or space, new all-electric options create a compelling argument for families to turn to EVs.
For those looking to offset their weekly fuel up, the 2026 Kia EV9 can save drivers around $1,800-3,400 per year compared to gas-powered SUVs. Cars.com named the 2026 Kia EV9 the Best Electric Vehicle of 2026 for the second consecutive year.
“The Kia EV9 stood out because it delivers everything we want from a modern electric SUV – strong real-world range, fast charging, excellent space and comfort, and smart flexibility across the lineup,” said Mike Hanley, Sr. Road Test Editor, Cars.com.
For those who aren’t ready to switch to a fully electric vehicle, Kia has expanded its hybrid options. The 2026 Kia Sportage Hybrid adds horsepower and updated design features, while the Kia Telluride model offers a hybrid version for the first time with a total driving range of up to 637 miles on the Ex FWD-trim.
To learn more about the Kia EV9 and Kia’s hybrid models, visit Kia at kia.com.
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High Speed Rail
Brightline West Construction Advances, But Opening Timeline Shifts Beyond the 2028 Olympics
Construction continues to expand along Interstate 15 as Brightline West moves closer to connecting Southern California and Las Vegas with 200 mph electric trains, though the opening timeline has shifted to late 2029.
The vision of traveling between Southern California and Las Vegas in about two hours by high-speed rail is steadily becoming more tangible as Brightline West expands construction activity along the Interstate 15 corridor.
Since construction officially began in 2025, work has continued to ramp up in both California and Nevada. Motorists traveling I-15 may have noticed increased construction activity, survey crews, utility work, and periodic lane closures as the project moves from planning into full-scale development.
Construction Is Becoming More Visible
Brightline West’s 218-mile all-electric high-speed rail line will connect Rancho Cucamonga, California, with Las Vegas, Nevada, using the median of Interstate 15 for much of the route.
Current work includes:
- Utility relocation
- Geotechnical investigations
- Site preparation
- Early civil construction
- Continued work around future station locations
As construction progresses, travelers should expect additional traffic impacts along portions of I-15 while crews prepare for bridges, guideways, track installation, and station construction.
A New Timeline
One of the biggest developments since construction began is a revised completion schedule.
While Brightline West was once expected to open before the 2028 Los Angeles Olympic Games, current projections now place passenger service in late 2029.
Large infrastructure projects frequently experience schedule adjustments due to inflation, labor availability, permitting, and supply chain challenges. Although the delay means Olympic visitors are unlikely to ride the line, construction continues to move forward.
Four Passenger Stations Planned
The line will include stations at:
- Las Vegas
- Apple Valley
- Hesperia
- Rancho Cucamonga
Passengers traveling from Los Angeles will transfer to Brightline West using Metrolink at Rancho Cucamonga, creating an important connection between Southern California’s commuter rail network and the new high-speed line.
Fast, Electric Travel
When complete, Brightline West trains are expected to operate at speeds approaching 200 mph, reducing travel time between Rancho Cucamonga and Las Vegas to approximately 2 hours and 10 minutes.
The fully electric trains are being manufactured by Siemens and are designed to offer a comfortable alternative to one of America’s busiest highway corridors.
Looking Ahead
The next major milestones will likely include visible bridge construction, elevated guideways, station buildings, track installation, electrical systems, and eventually testing of the first trainsets.
While passengers will have to wait a bit longer than originally hoped, Brightline West remains one of the most ambitious passenger rail projects currently under construction in the United States.
For Southern California, it represents more than a faster trip to Las Vegas—it could signal the beginning of a new era for high-speed passenger rail in the American West.
Have you driven the I-15 corridor recently? Have you seen any Brightline West construction? Share your observations in the comments below, and subscribe to the STM Daily News newsletter for more transportation and infrastructure updates.
Source and Related Links
- Brightline West – Construction:Construction Plan & Current Project Details — breakdown of the Nevada and California construction segments, stations, track/electrification and maintenance facility.
- Brightline West – Construction Advisories:Current Construction Advisories — useful for ongoing field investigations, lane impacts and work-zone updates.
- Brightline West – Project Overview:Official Project Overview — confirms the 218-mile Las Vegas–Rancho Cucamonga route and overall project scope.
- Nevada Department of Transportation:Brightline West High-Speed Rail Project — government source covering the route, stations, $3 billion federal award and construction background.
- Siemens Mobility:American Pioneer 220 Manufacturing Facility — details on the U.S.-built high-speed trainsets and Siemens’ Horseheads, New York manufacturing facility.
- Brightline West – Official Groundbreaking:April 2024 Groundbreaking Announcement — useful background on the project’s infrastructure, bridges, rail, electrification and Buy America commitments.
