Angst how many people have you got living on this? It needs to be a percentage of one's earnings. That's how it works. And needs must come before wants so you start with basic, shelter, food, electric, heating, transportation. A second car is a luxury not a given so is cable. Public transportation. I did it for years until I could afford a car...I was well into my 20's by then. Cable? Seriously...I didn't have a tv when mine broke, went without. I don't think young people can expect to live a middle class life. That comes after scrimping, and sacrificing and saving. It is not a given. 8O At least not in my mind nor for my generation. We did without until we could afford it. Otherwise, there is debt and it becomes deeper by the month. There goes the relationship.Lets break it down for a year.
12 000$ for house
2 200$ for heat and electricity.
9 000$ for grocery
5 000$ for car and repairs
3 000$ for gas for the car
1 500$ for insurance
2 000$ for birthdays
2 000$ for holiday visits and presents
5 000$ for your second car
3 000$ for phone Internet cable
Where at 45 000$ and we haven't even talked of health care
Like dentice, glasses, chiropractor.
Then we need to add putting away money for retirement.
You need to replace at least one appliance or bed every year.
New pillows, etc....
Add a good 5 000$ for that and that's if your lucky.
Would you call a middle class's family " middle class" if they have no pets? Not me.
2 000$ more for the pet.
If you own your home, you need yard stuff & repaires on your home.
That could add up really fast on you.
5 000$
What are we at to live middle class now?
57 000$
Ok we need to save for the kids school
2 000$
Then you have clothing
2 000$
Every middle class family should have at least 1 000$ a month of disposable/or for savings.
12 000$
Anything under 75 000$ a year.
A family is not living a full middle class life style.