[ire]

I was curious if any of you monkies feel like your getting squeezed financially? I'm middle class, my wife is in school and doesn't work and I don't feel squeezed. I do live in a relatively cheap area though and I've been responsible with my money. I do have some friends that are the lower end of middle class and struggle month to month and it sucks. Its the subject of Gut Check America on msnbc.com

LINK

 

[BurlyShirley]

Hmm...
The Median Household income in my zip code is about $28,000

Apparently Im ****ing rich.

 

[drkenan]

I feel squeezed as fu<k. Too many bike parts = one big maxed out credit card.

 

[SkaredShtles]

Yup - I'm middle class. And I'm not feeling squeezed in the slightest. Wife quit her job about 6 years ago to raise the kids and even then we didn't feel pinched.

Now she's working again and it's my turn to take some time off.

Got ski passes for the winter and fat cash saved up.

Life is good.

 

[stevew]

fat cash saved up.

Bulk syrup is the way to go.


When my great grandfather and grandfather passed, they literally had cash stashed in their homes.

 

[DaveW]

Well I'm middle class (in NZ) and I'm being squeezed fairly badly.
In comparison to a year ago, due to rises in fuel/food/mortgage rates I'm about $450 a month worse off.

 

[ire]

Well I'm middle class (in NZ) and I'm being squeezed fairly badly.
In comparison to a year ago, due to rises in fuel/food/mortgage rates I'm about $450 a month worse off.

Damn, that sucks. I was surprised at the wide range they consider middle class, depending on whose numbers you look at it can be as low as $25k a year all the way up over six figures.....I thought six figures was lower upper class. I feel like the middle class could be better off, but I'm not personally being squeezed.

 

[firemandivi]

I consider myself middle class. My wife and I both have pretty good jobs, we own a small house and have one child. Right now things are good, but we need a larger house. A larger house in decent condition(which is any house 20 years old or newer) is about $350,00-$400,00 with taxes around $10,000-$13,000 a year. We live comfortable now, but if & when we buy a larger house its a different story.

 

[X3pilot]

Things are good now, but we are hoping to pay off our house within the next 3 months so then things will be peachy. Driving back and forth from PA to MD every week may get pricey with oil climbing like a rocket.

 

[narlus]

Bulk syrup is the way to go.

and frozen milk.

 

[SkaredShtles]

I consider myself middle class. My wife and I both have pretty good jobs, we own a small house and have one child. Right now things are good, but we need a larger house. A larger house in decent condition(which is any house 20 years old or newer) is about $350,00-$400,00 with taxes around $10,000-$13,000 a year. We live comfortable now, but if & when we buy a larger house its a different story.

Maybe reconsider the need? My wife and I decided to move from a 1300 sq ft place to a 2200 sq. foot place when we got pregnant with our 3rd... but it was definitely a "want" - not a "need."

Of course, YMMV.

 

[Westy]

I'm single and live like a college student. If I stopped spending money on things with wheels on it I could get by with much less income. But I bought a house when prices were low and interest was high, refinancing put me in a nice place. I can see where it would really suck for a family trying to get into the housing market now, especially in higher cost areas.

 

[Westy]

Maybe reconsider the need? My wife and I decided to move from a 1300 sq ft place to a 2200 sq. foot place when we got pregnant with our 3rd... but it was definitely a "want" - not a "need."

Of course, YMMV.

I don't think most people know the difference between want and need.

 

[SkaredShtles]

Damn, that sucks. I was surprised at the wide range they consider middle class, depending on whose numbers you look at it can be as low as $25k a year all the way up over six figures.....I thought six figures was lower upper class. I feel like the middle class could be better off, but I'm not personally being squeezed.

As in everything it depends. And I think it depends largely on real estate prices. Around our area I know of *lots* of six-figure earners that are solidly middle-class.

Although I'd bet dollars to donuts that narlus is in the upper class, even if he *does* drive a crappy old Civic.

 

[narlus]

Although I'd bet dollars to donuts that narlus is in the upper class, even if he *does* drive a crappy old Civic.

you must have me confused w/ brian...i don't have a vacation home at tahoe or a boat.

my financial vices are travel, records, and camera gear.

 

[SkaredShtles]

I don't think most people know the difference between want and need.

My kids do. They're constantly correcting me...

"Daddy - you don't NEED a new bike, you WANT a new bike."

Little fokkers.

 

[firemandivi]

Maybe reconsider the need? My wife and I decided to move from a 1300 sq ft place to a 2200 sq. foot place when we got pregnant with our 3rd... but it was definitely a "want" - not a "need."

Of course, YMMV.

Our current house is 900 sqft 2 bdrm 1 bath I would like to have one with about 1800-2000sqft. 3 bdrm 1.5 bath. I suppose if you really wanted to you could live in a one bedroom apartment with your wife & 3 kids. So I guess its a want more than a need.

 

[SkaredShtles]

Our current house is 900 sqft 2 bdrm 1 bath I would like to have one with about 1800-2000sqft. 3 bdrm 1.5 bath. I suppose if you really wanted to you could live in a one bedroom apartment with your wife & 3 kids. So I guess its a want more than a need.

Bingo. I would rather live tight than be squeezed.

 

[BurlyShirley]

I prefer to think of myself as classless.

 

[valve bouncer]

Bingo. I would rather live tight than be squeezed.

Most people feel they have to build the biggest house they can afford rather than the best. Personally, we sacrificed size for quality and haven't regretted it for a moment.

 

[SkaredShtles]

Most people feel they have to build the biggest house they can afford rather than the best. Personally, we sacrificed size for quality and haven't regretted it for a moment.

Yeah - but don't you have a 3 cu ft refrigerator?

 

[BurlyShirley]

Most people feel they have to build the biggest house they can afford rather than the best. Personally, we sacrificed size for quality and haven't regretted it for a moment.

Yeah, but arent the walls made out of a paper, and the floors from Bamboo in japan? How much could it cost?

 

[laura]

Our current house is 900 sqft 2 bdrm 1 bath I would like to have one with about 1800-2000sqft. 3 bdrm 1.5 bath. I suppose if you really wanted to you could live in a one bedroom apartment with your wife & 3 kids. So I guess its a want more than a need.

I love having a tiny house (650 sq ft, got you beat but I don't have kids). Now I am not even tempted to go out and buy useless things, because I have no place to keep them. We have been on a constant quest for simplification for the past 2 years (since I started grad school) We were not squeezed then because we had nice savings, we are not squeezed now, because TN has a much nicer job. When I get a job we will have so much money, we won't know what to do with it. We've never really had two incomes coming in. We plan to put as much as possible into savings. The more I get rid of, the less I want.

 

[SkaredShtles]

I love having a tiny house (650 sq ft, got you beat but I don't have kids). Now I am not even tempted to go out and buy useless things, because I have no place to keep them. We have been on a constant quest for simplification for the past 2 years (since I started grad school) We were not squeezed then because we had nice savings, we are not squeezed now, because TN has a much nicer job. When I get a job we will have so much money, we won't know what to do with it. We've never really had two incomes coming in. We plan to put as much as possible into savings. The more I get rid of, the less I want.

One thing I'd like to spend more money on is travel. I'd love to head over to Europe for another extended holiday...

 

[narlus]

paying for 5 cross-ocean airfare tickets = :death:

 

[valve bouncer]

paying for 5 cross-ocean airfare tickets = :death:

Especially now with their fuel extortion surcharge.lthumbsdown:

 

[denjen]

When my great grandfather and grandfather passed, they literally had cash stashed in their homes.

Every time my wife goes to visit her dad he shows her his latest cash stash in the house. Its kinda funny.

 

[SkaredShtles]

paying for 5 cross-ocean airfare tickets = :death:

Yeah. Wouldn't be a problem for you, though, Rockefeller.

 

[narlus]

Yeah. Wouldn't be a problem for you, though, Rockefeller.

do not covet thy neighbor's property. it's unbecoming.

 

[TheMontashu]

Damn, that sucks. I was surprised at the wide range they consider middle class, depending on whose numbers you look at it can be as low as $25k a year all the way up over six figures.....I thought six figures was lower upper class. I feel like the middle class could be better off, but I'm not personally being squeezed.

http://www.nytimes.com/packages/html/national/20050515_CLASS_GRAPHIC/index_02.html?adxnnl=1&adxnnlx=1192550460-CnYjY9Z29HgSh6Uf5TEQzA

Ecanomic class breaks down something like that, each lcass represents something like 20% of the work force.


The idea that the middle class is being squeezed out comes from the fact that the middle class's average income has droped, while for the first time in a LONG time the top 10% of the population controls half the wealth in this country

 

[ALEXIS_DH]

am single, no kids, middle class.

my income comes in the once mighty US dollar.
2 years ago the exchange rate was 3.50 soles per US$, right now is 3.00 soles per dollar. angry gorilla fisting time.

 

[SkaredShtles]

do not covet thy neighbor's property. it's unbecoming.

It's not *yours* I covet... It's BrianHCM's.

 

[DaveW]

angry gorilla fisting time.

DUDE!
You fist angry Gorilla's?...... I have new respect for your bravery!

 

[ire]

http://www.nytimes.com/packages/html/national/20050515_CLASS_GRAPHIC/index_02.html?adxnnl=1&adxnnlx=1192550460-CnYjY9Z29HgSh6Uf5TEQzA

Ecanomic class breaks down something like that, each lcass represents something like 20% of the work force.

Thanks for the link.....I'm in the top 5th, I wouldn't have thought that.

 

[TheMontashu]

Thanks for the link.....I'm in the top 5th, I wouldn't have thought that.

The average american is alot poorer than one would think

 

[RenegadeRick]

I prefer to think of myself as classless.

so do we.



All kidding aside, I consider myself middle class, but according to that chart thingy I am in the top 5th.

I disagree that income creates class. I believe that the truly upper class have WEALTH, not income (well, at least if they have decent accountants).

Me? I got income, but not much wealth.

Food and fuel prices are on the up and up. It hasn't got to the point where I have had to make tough decisions yet, but if this trend continues it certainly will. The increased costs of basic necessities are affecting the price of everything and eventually something has to give.

In my mind this all drives from the price of oil which has doubled or tripled since the start of the war in Iraq. Just think of how much money this has made for Saudi Arabia... getting more than twice as much money for the same amount of product. And wait, what country did most of the 9/11 hijackers come from again?

 

[ire]

Me? I got income, but not much wealth.

same here, if I stop working that top 5th thing goes right out the window.

And wait, what country did most of the 9/11 hijackers come from again?

wasn't it Uzbekistan??

 

[TheMontashu]

so do we.



All kidding aside, I consider myself middle class, but according to that chart thingy I am in the top 5th.

I disagree that income creates class. I believe that the truly upper class have WEALTH, not income (well, at least if they have decent accountants).

Me? I got income, but not much wealth.

Food and fuel prices are on the up and up. It hasn't got to the point where I have had to make tough decisions yet, but if this trend continues it certainly will. The increased costs of basic necessities are affecting the price of everything and eventually something has to give.

In my mind this all drives from the price of oil which has doubled or tripled since the start of the war in Iraq. Just think of how much money this has made for Saudi Arabia... getting more than twice as much money for the same amount of product. And wait, what country did most of the 9/11 hijackers come from again?

This cost of living increase is what is "killing the middle class" in this country

 

[Biscuit]

A lot of it comes down to housing costs have risen significantly faster than incomes for the past ten years. I only feel "squeezed" because I have friends, who make the same amount of money as me, but are ten years older, and have a SIGNIFICANTLY lower cost of living, for what is arguably a higher standard of living (nicer home, vacations, etc).

I disagree that income creates class. I believe that the truly upper class have WEALTH, not income (well, at least if they have decent accountants).

DING-DING!!! In my profession, I work with a lot of very, very wealthy people. It's the passive income, and the ability to quit for six months to go live in France, or sail, or whateve that really seperates the "wealthy" from the "working class". Even the higher incomed working class.

If your living on an income, your in the same boat. Just nicer clothes, house, cars, etc.. Same stuff, just nicer and more expensive.

I love having a tiny house.. Now I am not even tempted to go out and buy useless things, because I have no place to keep them... The more I get rid of, the less I want.

My house was actually on the market for a while hoping to downsize. I'm single with 3 bedrooms. One of them is an office I don't use, the other literally has a matress and a sleeping bag in it. I went through a phase of buying stuff to fill the space... then realized it was stupid and only making me unhappy (and broke).

I'm trying to dramatically simplify my life. Kinda stuck for now though.

 

[Biscuit]

As far as simplification goes, I'm learning the hard way. Stuff does not equal happiness. Cash flow and freedom does.

I have a house, a nice (big) truck, a nice (fast) car, too many bikes, etc, etc, etc..

I got burned out on bike riding a while back, and now realize it was because I had too many bikes. The crap weighs you down, makes you think about the wrong things and "miss the forest for the trees" type of shat.

$0.02