So You Think You Are Middle Class?


It’s strange—there is no generally accepted definition for the term “middle class” in the United States. There are several opinions on what constitutes a middle class individual or household but, these notions vary. Although a substantial percentage of Americans view themselves as middle class, this is perception, not reality, as I will demonstrate during the course of this article.

Being a more class conscious society, our British cousins actually do have a definition for middle class, and it goes like this:

  • Working Class – Paid weekly and rent
  • Middle Class – Paid monthly and own
  • Upper Class – No need to work, inherited your home and have an estate

The Brit’s definition, I’m sure you agree, doesn’t fit our socio-economic structure. For example, substantial numbers of Americans that consider themselves middle class are renters and, few working Americans are paid once monthly.

Americans tend to view things through the prism of income when it comes to defining class. My research on the topic revealed no consensus regarding what income level defines an individual or family as middle class.

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Friday’s Credit Tip #8: Check Your Credit Report Regularly


You are more likely to notice problems and inconsistencies if you check your credit report on a regular basis—at least once a year and preferably three times a year. If you notice anything odd or anything you don’t recognize (such as a charge account you did not open) report it immediately…

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Identity Theft: When Closing The Coffin Just Isn’t Enough


Sadly, this is not in fact an early Halloween season prank. Nope, not at all. It turns out that there is a disturbing new trend in the world of identity theft. You may say that those who deal in the illicit personal identification theft world have sunk to an all time low. That’s right; the [...]

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On Becoming a Financial Prepper

burning earth

Isn’t it amazing? Literally thousands of people across the country are preparing for a doomsday scenario. They build underground shelters, amass food supplies, store water and squirrel away countless other items they believe will be needed come Armageddon. They are known colloquially as—Doomsday Preppers. These otherwise ordinary Americans believe a future calamity will bring civilization [...]

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Friday’s Credit Tip #7: Practice Safe Banking, Safe Computing, and Safe Business Practices


With today’s credit tip we’ll continue to look at what you can do to protect yourself from identity theft. One important way to stay safe is to follow safe banking and financial practices. Keep account numbers and PIN numbers safe. Cover your account and PIN numbers when using debit at the store and refuse to [...]

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Beware the 401(k) Gotcha


With today’s up and down and then up again economy, it is no surprise that the issue of what to do with that 401(K) plan keeps showing up. That is, after you are down-sized or after you jump ship to another employer, what are you supposed to do about that balance sitting there in your [...]

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Doubling Down—From 1 Cent to $1 Million in 27 Days


I confess! I’m a sucker for all kinds of trivia. Fascinating facts, history facts, math facts, you name it. When my creative juices stop flowing, I often turn to trivia as a means to recharge the old batteries. I was doing just that when I tripped across this: If you begin with one cent (a [...]

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Friday’s Credit Tip #6: Look Out for Identity Theft


If you have a lower credit score that you would like, odds are that the score is caused by some small financial mistake or oversight you have made in the past. Not every person with bad credit has a low credit score caused by something they did, though. Sometimes, other people’s criminal activity can affect [...]

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Construction Subcontractors Need Access to Finance if Recovery is to Continue


On the back of another successful month for the construction industry, subcontractors are looking to the future with hope – a boom in the construction industry means more contracts, more work, better prospects, and better cash flow. At least, that’s the picture in theory – how does it look in reality? How do construction subcontractors [...]

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The Battle for Your Wallet


Do you need to save more money or rein in your spending? How about a set of unusual money saving tips? Sure, the holiday season is months away, but don’t be surprised if you start seeing early buy promos even earlier this year. With that in mind, how about a different approach? Especially if what [...]

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