Friday Financial Tidbit-What the Middle Class Can’t Do With Money

Due to my interest in all things personal finance, I read a variety of articles dealing with personal finance from all kinds of different sources. It helps me keep up with recent trends and know what pop culture is saying about money. I try to not get too overwhelmed with the news because I love instead to focus on the one economy that I can control: my own. But it is good to keep in touch with how people are doing as a whole.

Recently during my daily browsing I found a headline that caught my attention. It read, “7 things the middle class can’t afford anymore.” It’s worth the full read but in summary here is a list of the seven things;

  1. Vacations
  2. New Vehicles
  3. Pay off Debt
  4. Emergency Savings
  5. Retirement Savings
  6. Medical Care
  7. Dental Work

If you believe the article headline, that is really depressing. If you can’t do any of those things anymore, what can you really do? Now I’m not going to go into class warfare right now or debate income inequality or discuss what qualifies as being middle class. I’m also not going to talk about how ridiculous it is to generalize that all middle class Americans can’t do any of these things. But I’m also not going to make you feel bad if you are struggling or blame you for the situation you are in and I’m not trying to sound arrogant either. However our family has been able to do six of these things in the past 12 months and buying a new vehicle is something we aren’t very interested in. We are also middle class and other middle class families have done it as well.

It all comes down to having a plan and prioritizing what you really want to do with your money. Now granted, in your situation you might not be able to do all seven things at the same time. But if you focus on what’s really important to you and look at where your money is going, you will be able to do some if not all of these things.

Again, this isn’t to bewilder you or make you feel bad if you can’t do any of those seven things right now; I’m not blaming you or am not mad at you. But I want to encourage you in whatever financial situation you find yourself in today. There’s just so much negativity out there and it can make it sound like no one out there is winning. That’s just not true; people are winning, it just takes having a different perspective and being proactive with your money.

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3 Responses to Friday Financial Tidbit-What the Middle Class Can’t Do With Money

  1. Brad Kinder says:

    I can’t help noticing there isn’t much mention of spending behavior in this article. This would be a very depressing article for the middle class if it was true that none of the things mentioned are possible. The truth is that the article is wrong and all of these things are possible with the right spending habits and plan.

    • That’s a great observation Brad. It’s all victim mentality thinking and it offers no hope in changing your future. How sad, but thankfully we know and work with people every day who are making wise decisions with their spending behavior and are able to do the things they value most.

    • Jon White says:

      That’s a great observation Brad. It’s all victim mentality thinking and
      it offers no hope in changing your future. How sad, but thankfully we
      know and work with people every day who are making wise decisions with
      their spending behavior and are able to do the things they value most.

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