My comment:
This article is actually advising people how not to fallen off the middle class.
Defining middle class in America?
According to the U.S. Census Bureau in 2005.
| Population group | From | To | Class |
| Bottom 20% | $0 | $19,177 | Poor/working poor |
| Middle 60% | $19,178 | $91,704 | Middle class |
| Top 20% | $91,705 | Bill Gates | Upper class/Wealthy |
But this table does not account for the large differences of cost of living in America.
Therefore, a more flexible definition for middle class would be
- having the resources to cover all your needs and some of your wants, plus the ability to save for the future.
The system is against you
There are fewer good jobs for those who don't have college educations.
A decline in manufacturing, waning union power and increased globalization mean it's tougher than ever to get into the middle class without a college education. But globalization and outsourcing are sniping away at white-collar jobs as well, and a fast-evolving economy mean few can be content to end their educations after four years.
The price tag for education is rising.
Education was, and still is, the ticket to a more affluent life. But the cost of a college education has skyrocketed and financial aid hasn't kept up, even as the comparative worth of a degree has shrunk.
Loans have replaced grants as the primary source of financial aid, and too many students graduate with crippling debt.
A simple plan to a more affluent life
To have a middle-class life, anyone with an income and the strength need to follow these 5 steps:
1) Spend less than you make.
The key to making any financial progress is to live within your means.
2) Limit your debt.
It's costing you unnecessary interest and leaves you vulnerable to the slightest economic setback. The more you owe, the fewer choices you have.
3) Save for a rainy day.
Even $500 in the bank could allow you to weather day-to-day crises like a car repair that could otherwise push you over the edge.
4) Plan for retirement.
Start early, keep your hands off the money and don't stop for any reason. Even a small amount, scraped together and invested over a lifetime, offers a much more comfortable retirement than the Social Security alone.
5) Stay sharp.
You are the captain of your financial ship. You have to look for new opportunities and spot potential dangers.
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