Anyone still feel like they belong to the middle-class? Vent...

[silkiechicken]

I have like 6 credit cards, maybe more... however, they all get paid in full on time. I wouldn't use them if I didn't need to build up credit for the future. I make a point in using one of them every month on something, so I can use an online bill pay that allows me to get 7.5% interest on the first 1000 in my savings/checking account... I charged 3.19 last month and 69 cents this month so I could use bill pay and show that I paid the credit card in full for another month with an on time payment. lol

I think it's hard to get loans now because lots of places are hurting bad from the times they were handing them out like none other and they don't want it to happen again.

 

[tabsmonsters]

I guess we are outside the norm too. Our credit card debt is usually less than $1000 per year. If we have any CC debt when we get our income tax, that is the first thing that gets paid off. We don't eat out very often, maybe two or three times a month. Our only luxurious bills are cell phones and DSL. We live too far out for cable TV but we have an antenna so local channels are fine for us. Steph, to create my credit ( i had none on my own since everything was done under DH name) I started applying for store cards. I started with Lane Bryant, then Target and Sears. I think my max credit limit was $200, but I would buy something small and then pay it off the next payday. When I got my credit score about 2 yrs later, I had a higher score than my DH! Maybe that would be something that would work for you. I like not being in debt. Its a great feeling!

 

[love-my-wolves]

Quote:
I agree! I wish I knew about the credit card thing, but we just never wanted the "credit card debt" and were too afraid we wouldn't be responsible. Also, we never really thought we needed to prove our credit worthiness like that. I mean, we pay our household bills, and feed ourselves. How is a mortgage any different than paying your rent. They are both (normally) the same amount. I mean, check my credit to be sure I don't overdo it (like buying a $400k house with a $200k budget) but if I pay my rent, why wouldn't I pay my mortgage?? Although, with all the forclosures, I guess I answered my own question.

Oh, well, we'll work it out somehow. And I did get a credit card the other day, but only agreed to a $500 limit, so as to not go overboard (just in case).

 

[hcammack]

My family is rich

But I am a poor Farmer

I am only 16 but I buy all my own clothing, shoe's, and extra's (chicken food :lol ) with my allowance which is nice I like having to buy things myself because it teaches me how to manage money although I suspect I will remain a farmer and probably still be "poor" but be happier than any of my peers because I will be doing what I love an working outside! Thats my hope for the future I don't want to be rich I know none of you will agree with me. As a privalaged child I am greatful for how hard my parents have worked to give me what a I want and need and provide for us well. At the same time I feel that rich people are also poorer sometimes and lack character I am working on building mine

Just my 2 cents wow that was long
Thanks,
Henry

 

[silkiechicken]

Henry, enjoy being young and taken care of while it lasts! I'm stretching it out as loooong as I can because I'm not an eager to jump into real life. LOL At 16 you have a lot ahead of you. I'd sure have to say, at your age, I didn't see, comprehend, or even fathom some of the stuff adults had to deal with as so much of it is invisible when you're young. I'd say I didn't even see some of the things adults see until like two years ago, and STILL don't see what they see. It's great that you are learning early. I got my first credit card at about your age. Use it wisely and you'll build up credit in no time.

As for credit card debt, if you didn't think you could not over charge yourself... it may have very well been better than having no credit. Bad credit will tarnish you for a long time, no credit you still have something to build from and don't have to start from the negative.

 

[Skyesrocket]

Henry,
You are wise beyond your years! It's refreshing to see that you appreciate what your family has provided for you. Your parents have done a wonderful job raising you!

 

[kees]

According to the government, I'm categorized as middle class but with rising prices, being a single parent, driving 100 miles to get to work and back, I'm barely making ends meet.

 

[Guitartists]

Middle class??? What IS middle class these days? I'm pretty sure we fall into the upper lower class level based on our income... 6 people on one income. But everyone, including our family thinks we have it made!

If only they knew.... we struggle like everyone else, we are just shrewder with our money. We have given up all the luxuries... we don't go out to eat, we RARELY order in, we rarely go to the movies... we ONLY go when it's really one of those BIG screen flix.... so, like twice a year.... we have used cars, bought and paid for at tax return time... no car payments, we buy our clothes secondhand.. garage sales and Goodwill are my best friends! LOL And we try not to waste and we teach the kids the value of a buck and the worthlessness of labels

Everyone thinks we are middle-class... but I know the brass tax :|

 

[me&thegals]

Well said, guitarists! It blows my mind how much eating out can waste!!! We took the in-laws out for Mother's Day for a treat and just about passed out at the $114 bill for ONE MEAL for only 6 adults and 2 children! As my mom would have said, "I could have made it better at home!" Not that I'm such a wonderful cook, but most restaurant food, IMO, is actually not that tasty. Yeah, eating out costs a lot of money!

I agree with everything else you said, too. In America, we would probably be considered middle class and definitely not wealthy. A 12-year-old car, used clothing, grow a lot of our own food, etc. But, I try to give my kids a sense of how incredibly wealthy we are by world standards. We have our own home, our own land, more of everything than we need, clean water, no drought, famine or disease. It's all a matter of perspective.

 

[miss_thenorth]

Quote:
How would you define classes? Is it the amount of money you make, or how you spend your money?

Personally, I would tend NOT to watch how everyone else is living. We live on one income. I garden, and now I am raising my own meat. We buy second hand most of the time. We have a nice house, nice stuff in it, our utilities are always paid, we have no credit card debt. We drive a 95 cherokee, and a 2000 explorer. My hubby also has a motorbike for commuting. The only thing we 'owe' on, is our house. We don't eat out alot--maybe once every two months. No movies, no cable, no extras. i shop frugally. We have a happy life. Our joy comes from the peace of mind knowing that we have each other, and we are secure financially. We are not rich-we are happy.

I have former neighbours who in one breath would tell me about all the good deals they got on what I considered clutter( stuff that is not needed) and then turn around and complain that they needed a raise, b/c their cost of living is so high. Then that weekend they would go to the casino b/c they worked hard all week and needed to unwind. These are the ppl who's kids had to have the name brand clothes, and wouldn't dare set foot in a 2nd hand clothing store. they are the ones who have to have the newest cars, on lease for three years, and then get a new one.

They would look at me strange if they saw me going into the house with a Value Village bag. They thought it strange that we didn't go on expensive vacations, or get a sitter to go out every other weekend. They couldn't believe that i would choose to stay home with my kids, let alone afford to do it. these are also the ppl who complained about how much they owed.

Now that I am out in the country, i am so glad that I can do my own thing without being scrutinized. i don't care how everyone else lives. I care about how WE live, and I think we live pretty darn good. I would prefer not to be labelled by class--but by how happy we are. We don't need 'things' to make us happy. Maybe some other ppl do. "We" are rich in our own way.