How to Gauge Your Middle-Class Status

[shmike]

Originally Posted by Homeslice

I took that to mean 2 cars worth a TOTAL of $45,000. Especially since they said they're spending $12,400 per year on those cars, which wouldn't be enough to cover a $90,000 loan plus all the insurance and maintenance.

As for this: "About 18 percent of disposable income, on average, goes toward mortgage payments, auto loans, credit cards and other forms of household debt. "...........I am calling on that, it's got to be a lot higher.

Yeah, I didn't see that until you pointed it out.

It says "with a new car value of $45k". Does that mean that these "middle classers" are driving two cars that could be replaced new for @ $22k each?

Most middle class people I know have at least one car that is over $35k new and I don't know of many $10k cars to be had.

Fuzzy writing. Either way I think the general consesus is that your typical American household spends too much ans saves too little.