I was excited to hear about the new website, The Middletons. It’s a go-to site for personal finance content for folks with mild-to-moderate incomes! You’ll find the best articles, podcasts, and other resources for the middle class.
But one big question being asked: what makes someone “middle class”? Everyone seems to have their own definition. I listened to @stephonee from Poorer Than You (and one of the creators of The Middletons) in her interview on a recent podcast from His and Her FI and she said that one definition that they’re going by as a “middleton” is 2/3rds to 2x of median income.
This got me thinking: am I middle class? Are the Money Middletons for me?
I think when I first got out of college in 2006, I sat nicely in their key demographic. I was a SINK (Single Income No Kids). My starting salary at the startup was $55k. I was starting out with debt (student loans) and no real savings and needed to find out how to pay off those debts and start saving.
If you’ve followed my blog for awhile, you know that I started exploring all the things one “should” do when trying to balance a middle class income with daily financial needs/wants and obligations while also planning for the future.
12+ years later, I’m fortunate enough to be in a much different place. I’m married with two kids and my husband and I have both increased our salary through hard work. And over the years we’ve managed to save a lot of money and pay off a lot of debt (my student loans are gone, and my husband just has a tiny bit left). Our expenses are much higher now (mortgage and childcare) compared to the super cheap rent we had when we lived with a bunch of roommates.
But weirdly, I feel like my mindset is still a lot like what it was back when I started out. I still worry about having enough money, I still look for ways to save money on my day-to-day expenses and bigger purchases. And I want to make sure I’m making the right financial choices. But I acknowledge that I’m lucky enough to have a higher income (and more savings) than a lot of other folks. Plus I still feel a bit lost about what I’m supposed to be doing NEXT.
I’m looking forward to seeing all the content that The Middletons will be sharing! I hope you’ll check it out, too!
What would you consider to be middle class? Do you think you’re in that group?