Am I Upper Middle class or just in the middle?

Question

idk someimes.....

My dad makes $150,000 a year

my mom doesnt even work though!!

and we have 5 people in our family.

..and with the economy these day.....what do you think??

Answer 1

upper middle. the average of people dont make that much a year.  

Answer 2

There isn't enough info here to say... your family might be drowning in debt, or be in very good financial shape.

Answer 3

It depends on whether you are democrat or republican.  The dems want to call you rich if you make over $32,000 a year.  

Answer 4

Not enough info.  How much money do you have saved up?  How much money are you in debt?     Are you renting?  Do you own a 100k home?    & there's a difference between your own money and your parent's money.

& Tell your mom to get a job and stop mooching.

Answer 5

Based solely on income, I would say upper middle class. Based on how the money gets used, your family could be in lower middle class because of poor spending/credit habits. Even someone who is "rich" based on your dad's income could be dirt poor because of how that money is spent. What gets people into trouble is that they over extend themselves. They buy on credit what they really have no business buying to begin with. The best car, the latest keep up with other people mentality gets people into financial trouble. If you can't buy it with cash, don't buy it. A new Mercedes might look nice in the driveway, or a fixed up 1968 Cobra Mustang, but if the family is eating beans and bologna for dinner, then the first thing to do is to get rid of the fancy cars. An average car that will last a long time, and is reliable always makes better sense. Buying to satisfy prestige is not a good idea either. So, $150,000 per year might sound good, and it does, if mis-spent, it is no better than an income of $10,000 per year.

One of my biggest disagreements with my parents was what they spent on me, because I had a fair idea of how hard it was on them to make the money that they did. My sense of well being was on what they taught me, and that they cared enough about me to teach me good values that endure to this day. Have I ever made money mistakes, yes, I have, and I have learned from them. I don't eat out a lot, because that money could be better spent else where. Eating at home is better for the family anyway. We saved money by canning, and freezing food that we ate during the winter. I have many fond memories of that, and money could never do that if spent in a poor fashion. Money buys very little, family time together pays deep dividends later in life.