The New Middle Class

7 Mar

Since I was a teen I said I wanted to help the poor to middle class learn about money. I always said that there would be two classes. Rich or poor. There will be no middle class. Who knew in less than ten years this would be true. I was a kid talking crazy. I didn’t watch CNN much I just had a vision.
It has been said that in order to be considered middle class your household income has to be at least $150,000 USD per year. Once upon a time that was living the good life. Now that’s just surviving. With the static, 40+ percent of 18-23 year olds are unemployed, makes it difficult to start some where. Most adults are working in the “teenage” job field because the US unemployment rate is through the roof. There are no jobs anywhere.
Where does one start? How does one begin to build their wealth in order to “survive”? Saving money… daily, weekly, monthly. It doesn’t matter how much just as long as it is something. It’s easier said than done but it is possible.
How do you feel about the new salary requirement to be considered middle class?

Nadie.

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12 Responses to “The New Middle Class”

  1. simon7banks March 7, 2012 at 10:25 am #

    Funny how the term “Middle class” means quite different things in the UK and in the US. For a start, “middle class” with you seems to mean what we call “working class” – in other words, near the bottom of the pile but at least having (at least some of the time) a job. If that’s the middle class in the States, what name is given to the class below it?

    With us “middle class” covers bankers, teachers, business executives, doctors, small shopkeepers, nurses – a pretty wide range, so we sometimes talk of “upper middle class” (the business executive) and “lower middle class” (the small shopkeeper). “Upper class” used to mean aristocrats and landed gentry – and is used very little nowadays, now such roles are increasingly irrelevant. A lot of money can make you upper-class, but it generally takes a generation.

    Another difference is how you measure these classes. You’ll have noticed in the UK it isn’t just a matter of money. A working-class builder may earn much more than a middle-class nurse or shopkeeper; an aristocrat may be quite poor.

    • princessnadielala March 7, 2012 at 12:17 pm #

      Hi Simon. Thanks for stopping by. It would be the same here. Working class equals to middle class but those who do not fit into the monetary category are said to be living paycheck to paycheck or one check away from being poor. It has been said that you are considered “on track financially” if you have eight months of income saved up just in case if something happens. It is a scary thought but like you said there are very few who hold the title of executive and upper class today. Thanks for commenting 🙂

      • Simply Tia March 7, 2012 at 12:43 pm #

        Well this is my goal – 10 paychecks saved up. We are going to work super hard for that. I want to, at any given time, have 10 paychecks in savings just in case. Nadie, I can’t thank you enough for this post!! I needed it…badly!

      • princessnadielala March 7, 2012 at 12:58 pm #

        That’s means I succeeded at something today 🙂

  2. nightshade130 March 7, 2012 at 10:46 am #

    Hi Nadie!
    I hope you’ll accept this award but I have nominated you for the Very Inspiring Blog Award. Come check it out on my blog
    http://nightshade130.wordpress.com/2012/03/07/very-inspiring-blogger-award/

    Your blog is amazing!

    • princessnadielala March 7, 2012 at 12:14 pm #

      Hey girlie, thanks for stopping by as usual. And thank you for the nomination. You always inspire and I’m glad you feel the same about me. Be blessed

  3. Simply Tia March 7, 2012 at 10:52 am #

    Geeze! I guess we’re poor. I mean I kinda figured that out already but I never looked at it as true poor because we’re able to do the things we want to do, travel, save and eat/dress well all off of one income (my husband’s) but since we do not make anything near to 150K per year, well I guess I’ve just been told.

    • princessnadielala March 7, 2012 at 12:13 pm #

      Hey Tia. Thanks for stopping by!! I hear ya I feel the same exact way. I currently belong to the non working class and I am a student yet I am able to do all the things you said as well. It’s a hard pill to swallow because you are able to live comfortably and you’re happy. It just goes to show you money doesn’t make the world go round but many of us are one paycheck away from destruction if we didn’t get that paycheck.

      • Simply Tia March 7, 2012 at 12:19 pm #

        So true!! This definitely has me reconsidering some things. We’re (Hubby and I) going to have to up our saving strategy some more just in the event that we’re unable to get not just one but 2, 3, 4 or 5 paychecks.

        Wow! This is truly eye opening.

      • princessnadielala March 7, 2012 at 12:40 pm #

        Exactly. Take a look at what I wrote in response to Simons comment. I just said the same thing. I learned a lot from Suze orman. If I was on my pc I would give you the link. I just wrote a blog about a great book about it. It definitely helped me out. I now save at a minimum 10% of my earnings. Another blog post I wrote titled 70-10-10-10 I think in December. Live off of 70% save 10% invest 10% and give 10%. It definitely helps. Best of luck to you and the hubby.

  4. Mai Ward March 8, 2012 at 12:20 am #

    “Live off of 70% save 10% invest 10% and give 10%.” This is a great way. I never made a savings plan.

    We get paid really well here where I live, especially if you had a good educational background. Then again, everything is getting so expensive. If I wanted to own a house, I’d have to literally be a millionaire. If I keep saving 50% of my salary for the next 20 years (~431,345$), I *might* be able to bye a land, but I wouldn’t be able to build anything on it. And that’s why I never thought of saving.

  5. willowdot21 March 8, 2012 at 3:53 am #

    Maiya this is a huge subject to tackle and I honestly do not know the answer and I am not going to attempt it.Things are much worst than any of us realize and I think it is going to get worse before it gets better. As my parents used to tell me tighten your bets and cut your coat according to your cloth. They were right and I think they are right. But nothing is ever that cut and dry.

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