All posts tagged: middle class

Most Middle Class Families Can Barely Afford These 11 Once-Basic Items

Most Middle Class Families Can Barely Afford These 11 Once-Basic Items

Published by Jenni Sidey

Having a middle class family used to be a foundation of The American Dream, a dream of security, access and opportunity. Or, at least, that’s what it used to mean. From rising housing costs to the burdens of student loan debt and inaccessible grocery bills, many American families today can barely afford some of the items that used to be considered basic. Once an American economic class that was able to live comfortably on one full-time salary, there are now several everyday essentials that are no longer secure, even for families with two working adults.   A survey from the National True Cost of Living Coalition found that nearly 65% of Americans report that they are struggling financially in their daily lives, contributing to their reduced spending habits, inability to pay for basic monthly expenses, and difficulty planning for their future with savings and retirement accounts. That doesn’t even account for the dream of sending a child to college, which most middle class families, and even upper-middle class, can no longer afford.  Most middle class …

It’s Only Been 10 Years, But These 12 Once-Basic Middle-Class Experiences Now Seem Unaffordable For Most

It’s Only Been 10 Years, But These 12 Once-Basic Middle-Class Experiences Now Seem Unaffordable For Most

Published by Jenni Sidey

Many American families are struggling financially. In fact, according to a PYMNTS Intellegence survey, nearly 50% of American households who make more than $100K annually, and 62% of Americans in other class situations, are living paycheck-to-paycheck. Over the last decade, in addition to having trouble covering basic necessities like groceries and rent, nearly half of adults also don’t have emergency or savings funds, causing them to rely on credit cards and financial sacrifice. From basic things like attending concerts to life-changing experiences like having children, though it’s only been 10 years, these once-basic middle-class experiences now seem unaffordable for most. And it’s largely due to the fact that they’re too concerned with paying basic expenses to save or splurge on these things. It’s only been 10 years, but these 12 once-basic middle-class experiences now seem unaffordable for most 1. Having kids Evgeny Atamanenko | Shutterstock According to the U.S. Department of Agriculture, back in 2017, the cost of raising a child born in 2015 was around $233K. But by 2023, the average American family spent …

Research Shows The 2008 Recession Had One Major Lasting Psychological Impact

Research Shows The 2008 Recession Had One Major Lasting Psychological Impact

Published by Jenni Sidey

The Great Recession of 2008 marked a particularly difficult time for Americans, with effects that reverberated around the world. Few remained unscathed as lay-offs and foreclosures mounted. While the biggest impact of this era may have been on people’s finances, it certainly hit them hard psychologically as well. One group of researchers wanted to determine just how intense the mental strain was on Americans who lived through the Great Recession. Their findings, published in the journal Psychological Science, indicate that out of all the ways the recession affected people, there was one major impact that has continued to last for the almost two decades since. The Great Recession changed people’s perception of their class identity. Researchers said, “Class identity refers to the social and economic position in society of which people consider themselves a member (e.g., working or middle class).” Typically, we think of class identity as something that is pretty fixed. Obviously, if you won a huge lottery jackpot, your class would change, but that doesn’t happen often or easily. Karola G | Pexels …

11 Things That Were Affordable 10 Years Ago That The Middle Class Can’t Afford Anymore

11 Things That Were Affordable 10 Years Ago That The Middle Class Can’t Afford Anymore

Published by Jenni Sidey

Even as the average U.S. household struggles to afford groceries and other basic necessities, it’s hard to ignore how many everyday comforts were still within reach just 10 years ago but are now out of bounds for the middle class. What once felt like a small indulgence or a reasonable expense has quietly turned into something many families have to think twice about or skip entirely. With financial stress and food insecurity rising over the past decade, according to a U.S. Department of Agriculture report, the issue goes far beyond simple inflation. It reflects deeper shifts in cost of living, wages, and the way modern life has become more expensive in ways that aren’t always obvious. From social habits to practical needs, the squeeze shows up everywhere. Here are 11 things that used to be affordable 10 years ago that many middle-class households can no longer justify paying for today. 1. Owning a pet Hananeko_Studio | Shutterstock Nearly 72% of pet owners say that the cost of pet ownership has drastically increased in the past year …