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What Economic Class are you? - Page 5

Poll Results: What income class would you consider your family to be in?

 
  • 23% (80)
    Low-Income
  • 64% (223)
    Middle-Class
  • 8% (30)
    Upper-Class
  • 3% (11)
    Other, please explain!
344 Total Votes  
post #81 of 122
Under poverty line income wise, but educated with a grad degree.
post #82 of 122
We are middle class- $55K before taxes- one car payment and one BIG mortgage for a tiny house.

neither of us have degrees- but dh is close. I've just got a mish mash of credits that dont amount to much.

We tend to want to live upper class- because dh comes from upper class family, and I was raised upper/middle. But we feel like Lower middle is a better goal for us. (we're trying to conquer our materialism)
post #83 of 122
We are middle-middle class. But newly so. We have a large amount of debt, mortgage, cc debt, and student loan. Hopefully in 10 years we have no debt and will be able to enjoy our income.
post #84 of 122
We are also well under the poverty line, but with graduate degrees and, on my side, having grown up upper-middle class.

(my husband is an immigrant from Eastern Europe so the "American class system", as it were, can't really be applied to him)
post #85 of 122
Low income, but still classy.

Our income is in EIC and WIC territory and we pay $0 tax, but we are quite comfortable right now with a low house payment, car completely paid for, no CC debt. Actually no debt besides our mortgage. We aren't extravagant but we have some nice wiggle room. We don't have to nickel-and-dime right now and that is so NICE. I even was able to go shopping and get some nice professional clothes that *fit*.
post #86 of 122
Let's see, income wise we are middle. Class wise I feel upper, well not millionaire/celebrity upper class, but upper as we are doing better than most. We have no debt other than a relatively small mortgage, own 2 cars, have a decent amount saved for retirement, as well as a fair size emergency fund. However, I guess to most we would look and seem pretty low class as the vehicles we drive are 10 and 12 y.o., and we don't have things many people assoicate with class, we live simply.
post #87 of 122
For around here, lower class. Detached single-family homes in this area are around 600k and up unless it needs a lot of work. We can't afford that, so we're in the slum part of town that hasn't quite been McMansionized. They're heading our way, but haven't made it to our neighbourhood yet. We need to be out of here before it gets this far.

We have two cars (one new since August), and our debt consists of the new car and our house ('condo'). The husband's job is white collar -- he's dragged into all the upper management/head officers meetings. We're prone to expensive hobbies, but we don't buy stuff without having cash on hand by the time the cc statement is due. Hence, no credit card debt. We also have enough savings to cover most major emergencies.

I'm sure in other areas we'd be middle to upper class. We're the 'rich relatives' as far as most of our respective families are concerned. My one cousin's mother has said that she wants to live with my cousin and her now-husband (who live with his mother) because they're rich -- they have cable. :
post #88 of 122
We are in the middle class range, finally! We have struggled for years, but now I am finally able to stay home with the kids and let DH work. I will be starting my own business (from home, I hope) in the next few months, so that will help. We do have a lot of debt due to a grandparent visitation lawsuit brought on by my parents which allowed us to rack up 60K+ in lawyer fees....if not for that we would be living much more comfortably!
post #89 of 122
There wasn't a lower-middle class, and that's where I would put us. We both have decent jobs and make living wages, but have a lot of debt to deal with and struggle more months than not with paying the bills. Dh comes from a family that didn't have even the remotest concept of fiscal responsiblity, and I come from a family that accepts financial struggle as part of the package. I'm hoping we can change the cycle for our children!
post #90 of 122
I said other. Before I became a SAHM we were upper. Now upper-middle. Still, since we live in an expensive, high-income part of the country, we are less well-off in comparison to most of our neighbors.

I miss the perks of the higher income but I'd rather be home with DD.
post #91 of 122
I feel that we're middle class, but have a huge debt load. In our area we're probably upper middle class because we live in a highly unemployed area. DH works f/t and I'm a f/t student.
post #92 of 122
lower middle by the incime set by wiki.

I have a master's degree and dh has a bachelors. I work fulltime and dh stays home part time and works part time. Very little debt otherthan home and students loans.

So according to the wiki article we should be doing "better" based on our education. We own a low priced home in a nice little town, drive older cars and have given up on the race for the most stuff. Seems quite a few of us do not "fit" squarely in the categories. And I am very okay with that.
post #93 of 122
I voted middle, but after reading some articles, we'd be considered "upper middle class" I believe. It seems strange, but I guess DH makes more than average. We both have master's degrees, though I stay home. DH works for the gov't in a white collar job. We have student loan debt, but we own our two cars and have a big house (2400 sq ft) and cable, and cell phones, etc. We do live somewhat frugally (we do have a budget that we stick to, because of our student loans). DS does go to a private Montessori preschool, but it isn't nearly as expensive as some I've seen ($150/month). Of course, if we lived in California, we'd be really struggling. It helps to live in an area where a large house is quite affordable on one income.
post #94 of 122
I have no clue what the levels are .....guess I never cared.
post #95 of 122
We are middle class, but we live in an area of the country that makes it easy for our family of 5 to live comfortably on one income. If we were making this same income in CA or something we would be poor.
post #96 of 122
You're sort of asked two different questions.
On the poll you ask Income class, we're currently lower class (income ~20k, family of 3)
The title of the thread asked Economic class. Here we're clearly upper class based on our net worth.
Socially, we're upper middle class, but that is based on personal tastes and hobbies not consumer purchasing patterns. I shop thrift but we're more likely to visit a modern art museum then take in a ball game.

Lots of posts I've read for people on here put the posters clearly in the upper class IMO. But the authors seem to be trying to minimze how much they have and I think its interesteing.

Sure, high COL or debt loads may reduce your purchasing power, but it doesn't really change the fact that you have a high income, or two cars, or other things that are really beyond the reach of people with truly low incomes.
post #97 of 122
According to the link we are in the moderately high middle class. However, I think that it is very misleading . . it doesn't take into account cost of living, esp. housing. If DH were making this salary in Tulsa, OK, we would be wealthy. If he were earning the same amount in San Francisco, we'd be in the poor house.

I don't look at income when I think about what "class" we are in. I look at debt, at financial freedom, and at the personality that goes along with that. For example, I have a friend whose DH make less than mine. But, they have tons of savings AND don't think about money. They (friend and DH) are naturally frugal (not cheap), enjoy life, but just don't "need" what so many of us think we do (like cars . . .they don't own one). I think if someone can easily live within her/his means, then they are high income.
post #98 of 122
We are enlisted military, need I say more, our BASIC pay (taxable) is poverty. We make a lil under 2000 a month. We have a house payment and two ars, one payment. Things are tight but with me starting my own business it has helped. I SAH and we could be worse off. I am a thifty girl, no matter how much money I have, I HATE waste. That is something I can be proud of! I can never pass up a deal.
post #99 of 122
I voted upper based on the Wikkipedia article. We are in that Professional/Managerial class. But - we are also a two income family that wouldn't be in that qunitile if we weren't. Very interesting article. We live well within our means as middle class people.
post #100 of 122
I have almost a BS, several healthcare qualifications (I SAH), and dh has a MS in chemistry and pharma and teaching experience.

We are upper lower class. We have school debt, no real ownership of anything worth money, and three kids. We rent and have an old crappy van that we pay too much for.

According to the wikipedia article, we are upper lower class (but another theory lands us middle class)and dh makes about half of what others with MS have. And much much less than people with BS.

If we are middle class, than this country is in more trouble than I already worried.

We are very frugal and very very rarely buy anything new that's not food.
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