Searching for Middle Class
I was searching the Internet about an article with CNN about middle class that are the new working poor, I came across this topic
“What’s the cutoff line between middle class and upper class?”
and this one the answer from Neitherock, and a perfect one, I may add:
Middle Class: Gets by, has a house and possibly some savings. Must abide by a strict budget, but CAN budget for niceties like vacations every so often and other splurges.
Upper Middle Class: Probably does not live paycheck to paycheck. Saves a significant portion of their income and can afford to splurge a lot more often than the middle class.
Upper Class: Does not HAVE to work to live their lifestyle. Their budgets are probably managed by other people. They do not have to with the tradeoffs of their purchases like those in the upper middle class do.
Wow, very well explained. I remember the days when it was just 3 classes: Poor, Middle Class and Rich. Now we have over 5 classes- Poor, Middle Class, Upper Middle, Affluent, Rich and Super Rich.
As my blog says, I’m thinking of how to get ahead.
Middle Class gets by, Moneymonk gets ahead!
March 9th, 2009 at 11:17 am
Interesting post. By the way- I found you via Wisebread’s top 100 PF blogs! Glad to have found you!
Keep up the good work!
I don’t know what class I fall into, as we don’t live paycheck to paycheck, but that certainly doesn’t mean I’m upper middle class. It’s got to be distinguished a bit better than that.
March 9th, 2009 at 11:32 am
The definition for upper middle class could be anyone. We save 100% of my income, so that is over 50% of household income and can splurge. It isn’t how much we make its because we kept living expenses low.
March 9th, 2009 at 3:23 pm
America wants everything, therefore they will always feel poor.
Taking care of needs and simple wants is rich. For America, we never run out of wants therefore we always think we are less of a class