PDA

View Full Version : Middle class feels the squeeze


Steve
11-29-2007, 12:53 PM
WOW Check out these statistics on the middle class.

I would have guessed there was a higher percentage living paycheck to paycheck actually.

What do you think?

Middle class feels the squeeze (http://money.cnn.com/2007/11/28/news/economy/middle_class/index.htm?postversion=2007112817) - If their main source of income dries up, only 13 percent of middle class households can live off their assets for nine months, after reducing basic living expenses by one quarter, estimates Demos.

52 percent have no net financial assets at all after debt (excluding home equity), and live paycheck to paycheck.

The average middle-class family is carrying $8,328 in personal debt, which includes credit card debt, student loans, vehicle loans, and medical debt, according to the report. The cost of essential living expenses like health care, housing costs and educational expenses is rising higher than both the rate of inflation and the incomes of most families.