Are you in Debt, are we really poor?

Question

I am in debt... and poor...

Are the middle class folks suffering?

Answer 1

MY FAMILY'S PAY SCALE PUTS US IN THE MIDDLE CLASS CATEGORY. BUT WITH ALL OUR DEBT I CONSIDER US THE WORKING POOR.

Answer 2

No I am not in debt, but the only thing declining is the value of my home while the costs of water, gas, electricity, food, health care costs and even recycling and trash collection keep going up.  The dollar just doesn't stretch as far as it used to and yes, the middle class is being slowly and systematically bled dry.  And I am not just talking about people who don't know enough to figure out whether they can afford the house or plasma TV they just bought, either.  I am talking about people who bought homes they could afford, live modestly within their income and weren't on a spending spree over the last 2 decades.

Answer 3

put it this way. we are ALL not that poor if we can chat online. There are those who don't have a car to sleep in, or the only water they touch is when it rains. I'll say we're struggling for the most part, but only because we consume too much instead of controlling the market by buying less.

Answer 4

Mel...couldn't agree with you more...the squeeze is on and eventually those of us that make the US what it is--THE MIDDLE CLASS--will cease to exist.  There will only be rich and poor...Of course one needs to note that material things provide only fleeting glimpses of wealth.  Yes, it's nice to have a home paid off, and no other debt...Is it possible in a society built upon consumption/over consumption?  I submit that so long as we have a consumer mentality we'll have problems.  Why?  Well, we tend to over extend resulting in that debit you speak of--Instead of settling for the $500 TV we can afford we'll go for the $1200 one and owe.  It's just the way the American psyche works.  The "MIDDLE CLASS" is to some extent responsible for it's own downfall as a result.  PEACE!

Answer 5

My house and car is paid off; but i still consider myself poor.

It is a relative thing. We will always be poor compared to someone else.

I bet we are rich compared to most of the people in some African countries.