Middle Class

The biggest question is with inflation spiking, why aren’t incomes rising at the same rate? Middle-class incomes used to be above the living standards, but people cannot afford to maintain their households. They’re unable to save any money for long-term goals, which is why the ideology of the middle class is declining. Taking out money from their savings, adjusting spending habits significantly, and over-drafting on credit is getting more and more popular. The old middle class got much more for their money than now, and this includes people who are making six figures as well.

If your high school offers a financial literacy course, then I would highly recommend it. This world now requires a lot of budgeting and this class is great for determining what you need and don’t need.