Are you fit to be in the middle class? Initially, success was attributed to buying a new house, a car, vacations, being able to afford college fees for our kids, etc. These were the folks who were worth classifying in the middle class. Today, everyone wants to be in this class, irrespective of their income class. What is the lifestyle that defines the status of the middle class? Let’s find out in the next few lines.

Are you in the middle class too?

Numbers have a lot to do with this category, it doesn’t seem to be the case anymore. There is a wide variation, some folks believe an annual income under $100,000 qualifies as middle class, others think $50,000 to $99,999, and quite a few think $50,000.1 is the magic number. What are your thoughts, do you agree with any of these numbers?. There is still a benchmark though, and you should consider yourself middle class if you satisfy all the options in any of these categories.

You are in the middle class if you own a house

It is every individual’s dream to own a house, this is often seen as an achievement. This is because you have to move from renting to owning a house, and this is considered as progress. The ability to achieve this goal varies by location, because of the prices of houses in different cities in your country.

You are in the middle class if you own a car

When you have a car, you will avoid a lot of inconveniences. You will have freedom of movement, and you will avoid the cramped quarters that are available in a public vehicle. Just as with a house, the cost of the cars you can afford varies. It is based on where you live, and the automobile you want to buy, to achieve this goal.

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You are in the middle class if you can afford College Education for your Kids

Anyone in the middle class should be able to afford a college education for his kids. This education will help your kids get ahead and become useful in society. It is a primary achievement for folks in the middle-class category. Again, the prices differ, and it’s dependent on the University or college your children attend.

Do you have Retirement Security?

Everyone wants to retire, and retirement is a major goal for everyone in the middle class. Retirement has a lot of good feelings attached, it shows success, and it is the reward for years of hard work/dedication to a certain field. In as much as this is a goal for anyone, the amount you set aside for this purpose varies. The amount you need to support you throughout your retirement years will depend on your lifestyle. Your retirement expenses will reflect if you are in this class or not.

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Do you have Healthcare Coverage?

Middle-class wage earners desire healthcare coverage, it is an important goal. Medicare is an ever-increasing need for them because it will have serious and negative financial implications if a severe illness or injury occurs. This is a result of the high and rising cost of Medicare and prescription drugs. If you have the coverage, you are in the middle class.

Family Vacation

Taking time away from work and focusing on leisure is synonymous with the folks in the middle class. This means they have disposable income and can afford to treat themselves to a fun and enjoyable break.

Do you get to the middle class alone?

A lot had changed since the advent of globalization and technology. It now takes two to tango, as families began to have two-income sources. It became difficult to achieve these goals as a result of an increase in the cost of education, healthcare, and the reduction of employees incentives in the workplace.

Is it still possible to achieve your middle-class goals?

Yes. Even though there are quite a few challenges, you can still achieve your goals. Budgeting is one of the proactive steps you can take to help with your class status. Creating a budget helps you stay informed about the expenses your money takes care of monthly, weekly, and daily. With these numbers in a clear picture, you will be able to reduce some things and channel the funds to some or all of your goals.

Read Also: Budget brings you closer to your financial dreams

Strategic planning is also an option. You need to plan for the children’s education, consider looking into scholarship programs, and how you can take advantage of them for your kids.

Increasing your capacity to earn is another thing, you may need a side hustle, or an extra job, to boost your income.

By and by, making your money work for you is a crucial step. You need to learn the basics of investing and channel some of your funds there. You can build wealth through investment opportunities and your middle-class goals can be achieved.


The benchmark for the middle-class category is declining every day, just owning a home, affording college education for your kids, plus, having enough disposable income to take a family vacation, and having coverage for your health does the magic.

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