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Are you in the American Middle Class? (3 most common criteria) | From A Business Professor
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- เผยแพร่เมื่อ 15 ส.ค. 2024
- If you frequently watch the news, you have probably noticed that it is full of stories about how tough times are for the middle class. Story after story talks about how jobs are disappearing, prices are rising, and many essentials such as healthcare and education are steadily becoming more difficult to afford. Politicians fall over each other to offer solutions, promising everything from tax reform to better schools in order to “save the middle class.”
However, what politicians aren’t always so clear about is just who is in the middle class they’re so eager to save. They talk in general terms about “ordinary Americans” or “working families,” but they seldom offer a straightforward definition of what these groups look like.
In this video, I am going to provide you with the three most common criteria to define the American middle class, and explain where the trend of the middle class is headed.
As I was growing up I would see and perceive many people in my area as middle class, but now it seems that the class is shrinking. After watching this video I understand so much more about the shifts within the classes throughout my life and just how much inflation has risen and has been leaving household incomes behind. This causes the previous lower middle class to easily fall to low income classes. I really enjoyed this video.
I was not sure if my family and I were in the middle class. After watching this informative video, I realize that we are in the middle class due to home and car ownership, income, vacations, our children's college educations, and the lifestyle we live. These videos help in understanding the material learned more than just reading and other work we perform in class.
I qualify except instead of college educations, my kids get a free single family home. Also my last vacation was last year while I was "sick" with covid. People with vacation hours built up, still struggle to get time off work.
Being in college, watching this video and seeing how different the times look now financially is a big eye opener and makes you see where you fit in the grand scheme of the socio-economic chain.
Growing up, I knew my family was in the middle class. We never had the fancy things, and always struggled to stay comfortable in our living. My parents worked multiple jobs at once during my childhood, and still resulted in less than the upper class. This video really helped to understand what it actually is and how it is defined. I really enjoyed watching this video overall. Great lecture.
My family has always been in the middle class and it is a little scary to think that it is continuously shrinking. I think that this video helped a lot in clarifying what a true middle class is.
This video really taught me how blessed I am to be in my situation. While we are not rich or probably even above average, my family has always had enough income to support us and then some. The different perspectives you can choose to view middle class depending on the country and even state is a good reminder to be thankful for what I possess.
This video was very informational. I learned that being in the American Middle Class has many factors. I consider my family middle class because of income, net worth and lifestyle as mentioned in the video.
This video blew my mind. I didn't think the household income was so high to be considered in the middle class. This video opened my eyes to the reality of the middle class. I wasn't sure of what category my family was in just because it felt like the middle, but we were never in a horrible situation or a really good situation either. After watching the video, I'm able to tell were my family was located. Learning about what actually qualifies as middle class and being able to compare it is a great tool to know and it is sure to shape many decisions people have to make in their lives. Great video!
I learned so much in this video that I wasn’t aware of. Growing up I have never really been sure what category I would put my family in financially and this video helped me have a better understanding. I didn’t have any idea on most of the stuff that was mentioned. It really cleared up some of my confusion and was very helpful!
This video definitely broke down into detail on defining the middle class in America.
It’s more than just a simple definition, the video made that clear and understandable without having to just read a short definition. Standard of a living and Cost of living are two different ways to consider income that I was not aware of, I really enjoyed this informative video for the class.
Watching this video has given me a more understanding of what middle class looks like. I've always heard that the middle class will some be no more. it's a little scary to see that it actual is shrinking.
I learned so much about this video. It really helps you see into perspective. I never thought about what class my family was in growing up, but this made me realize. It helped me have a better understanding of finances and the middle class.
This video helped give me a better understanding of who the middle class actually is. It's valuable to be more aware of where we individually stand financially in relation to the rest of the world around us. This video also helped me realize that the middle class is more than just your income. Thank you for the helpful video.
This film aids in clarifying what the American middle class is really all about. I thoroughly loved learning about the 'class ranking' distinction between the lower and upper classes. I really enjoyed watching this video.
This video is very informative on defining what the middle class is. Like you said, I often hear about the American middle class on the news but never knew how you qualify for it. I always thought it was solely based off of your income. Thank you so much for the informative video. I believe this was my favorite video of the semester.
Growing up I have definitely seen my family go from the lower class into the middle class. We used to live in LA then later moved to Mississippi. This really helped my parents give us a better life because everything was cheaper, and it was easier to save up. Later we moved to Texas and a few years later we paid off our house and own 4 cars. So, our lifestyle is definitely why I say we are in the middle class.
Having to see how we can measure the middle class really makes a difference. Not just based on income but Assets and lifestyle too! Really makes me realize you can chose what to focus on in your life and there's always going to be a different view/story/perspective.
I am reaffirmed that I was raised middle class. I am happy that this video clarified cost of living and standards of living, average net worth by age and lifestyle of the middle class.
This video helps develop an understanding of what the middle class of America is truly about. I really enjoyed learning about the difference in the 'class ranking' compared to the middle class! I enjoyed this video very much!
This video was very well drawn out and everything was very well explained. I would consider myself and my family to be in the middle class of America after watching this video. Thanks for putting together a great video!
MKT 101- I really enjoyed the thorough explanation I received on the middle class in this video. I didn't know this much about the middle class besides the idea that most of us are within the subdivisions (upper, middle-middle, and low) of it and that your income levels determine where you land on the spectrum. I was definitely aware that living in NY was expensive but I didn't think it was that outrageously expensive compared to other states. Very nice video indeed!
This is quite eye opening. This has made me realize I am on the very low end of the middle class. Now a days it is becoming an even large gap between each class.
This video brings a very clear and understandable view of the middle class. I learned a ton from hearing about the different elements within the cost of living going up and median/average differences by the gap. Makes me much more ready to work hard and become less comfortable with staying middle class.
I think this video is very informational. I learned a lot about what defines someones as middle class according to different sources, as well as how the middle class is designated across the country. It's also interesting to see how peoples personal wealth outside of income can contribute to whether or not they are middle class.
This video is so relevant now more than ever! With the current state of the economy I feel like it is so important to have an understanding of what exactly goes into being considered middle-class. Growing up I have always been in the lower part middle class, which wasn't a bad thing but I definitely think there's misconceptions of being in the middle class. For instance, in Houston, Texas the people who were considered middle class are falling into the lower end of the spectrum because of the housing and job market. A lot of people from states such as California are moving down here for better opportunities, which again isn't inherently bad, but it is having a huge affect on Texans.
This video taught me a lot about the American middle class. I feel like there are many misconceptions about the middle class and this cleared many of them up.
This video was so informative on how the different middle classes are viewed. I enjoyed how it broke each one down and explained what makes each class different.
This video brought insight to how the "middle class" demographic is a broad spectrum because of different costs in different regions. I also enjoyed how you took into account different lifestyles. Great video.
Coming from a low-income background, I was always curious about what exactly defines the middle class. It is also interesting to consider the purchasing power of the middle class and how it has changed and developed as inflation rates have risen disproportionately to income over the years.
For example, I keep seeing a post floating around social media about how the Simpsons tv show portrayed a middle-class family. Two parents, two kids, single income (of a father who did not attend college), owned their own home, etc. and it was set in the 1990s. However, by today's standards, a single income (not provided by a college degree holder) household for a family of four who own their home would be considered pretty rare and very impressive.
I really liked this video, it broke down complex ideas in simple terms. I also believe it's worth looking into how the middle class may be different depending on the part of the United States you're in. For example, $1,000/month rent will get you a much smaller property in NYC than most other places
This lecture caused me to rethink why is middle class and what is not. There is great information on the criteria that defines the class. I also realized that middle class can be defined differently in different countries. We only consider middle class from our prospective, but fail to realize that assumed middle class may not be correct. We have to look closer than the neighborhood a person lives in, and how much money they make per year.
This video opened my eyes to the different classifications that people like to label themselves. I did know growing up where my family fell on the spectrum but this video helped me understand that differences that set you apart from other classes.
As an American middle class member, this video was crazy. There is so much I was unaware of and I'm thankful for these videos and lectures. There are so many variables that go into living and working and managing the natural stress of life. Time to get a big boy job!
This video is helpful to me by giving me criteria for what defines the middle class. This is very important to understand when studying this subject so you can differentiate between the different classes of people in our country.
Growing up and after taking so many classes I always wonder if my family and I were considered to be middle class or not but, I never found the answer until I saw this video. I also believe that it depends where someone may live can determine if they are in the middle class or not because every area has different prices on everything. The amount of detail and the way it was explained helped me answer my question.
This video really cleared up any misconception of what would be considered middle class. I think this is so a great topic to understand because it is so practical. The criteria of income, net worth, and lifestyle that make up the different quintiles were also very interesting to learn about.
This video was interesting to me because people always say they're middle-class families but this video really breaks down what the middle class is. I also like how the middle class is compared in a larger city and a smaller city to show the difference in the cost of living from a larger city to a smaller city.
This video was very insightful and informational for me. Growing up, and even now, my family never really explained finances or talked about money with me. Unless it was in a negative connotation about how much we had or didn't have, they never explained to me in an educational way what our financial situation was. Now looking back, I can have a better idea of where we were at and have a better understanding of where we are now as well.
I enjoyed how in depth the description of the middle class was in this video and how a lot more than just one's income goes into figuring the class you find yourself in.
I found this video to be very helpful in a lot of different ways. The video is well structured and clear when explaining the key main points. I love how much information we get regarding the politicians. This video describes income, net worth, and lifestyle. This video shows us where the middle class will be In the future. This video breaks down the facts and teaches the viewer complicated topics with simple words. Great video!
I enjoyed that this video didn't just focus on income levels (which is normally the only factor when people are trying to distinguish between classes), and provided more insight on taking into account net worth (liabilities, assets, how one's background is influential) and lifestyle (housing, education, retirement, health, transportation, etc.). The analysis of aggregate income was slightly confusing as I haven't been educated on finance before, but the summary section of the video was easier for me to understand all of the factors coming together!
this video helped me a lot to understand how I can become successful and how to be a part of the middle class, great video! everything was broken down into simple terms and it was really easy to understand.
This video opened my eyes and I see the world differently now. I used to not realize how much your class really means. It is crazy how ahead of life you have to be just to be considered middle class. I think the middle class is doing very good in life and probably be good off, however, there is a large gap of the middle class from the bottom middle to the high middle class
I found this video very intriguing, because, as you mentioned oftentimes many people categorize themselves as middle class. However, not all of these people who categorize themselves as middle class are. I think this video answers a lot of questions Americans have about the middle class and better helps us understand what the middle class is actually defined as.
I am participating in a marketing 101 class at Hofstra University and find this video very informative. This analysis on the middle class provides insight that can be used to further examine the wealth disparities between populations.
This is a very well said video and very up to time with how things are going today. This was the first video I’ve seen explaining everything about middle class. It’s almost looked over in a lot of ways so this video helped explain everything
Growing up my family was perceived as middle class but after watching this video I can see that we were in the middle class due to the certain things we owned, my parents income and more. I think the middle class is definitely getting smaller with the way our economy is today but this video gives a clear view to what middle class actually is.
I would fall in the middle class because my wife and I purchased our first Home here in Tyler last year. We both have our cars paid off, we do have a savings account for our kid’s college education, we have healthcare and security, and we often take family vacations. So based on that and from the video, I would consider myself in the middle-class-a great video, very informative.
You might want to consider a 529 plan for your kids college education.
Growing up my friends always thought my family was more higher class, but after seeing this video I see we were middle class, and you can see this by the three different categories.
Looking at my family and the way I grew up I considered us in the middle class. I didn't know exactly what put us in that category other than the fact that I knew we were well enough to get by. I now understand that we are fortunate enough to have cars, have health and retirement security, and both of my sisters and I were able to go to college. These are specific reasons that place us into this category. I enjoyed watching this video.
Growing up, my area they're all sorts of upper class or middle class families, however I always understood that my family identifies with the middle class better. Because we do live comfortably, but not to a higher standpoint and I enjoyed my life living this way because it has influenced me to work harder than my other peers who grew up differently. Overall, this video helped me dive deeper into my way of living and made me appreciative even more for the happy life I live.
This video really helped me understand what, "middleclass" means. It breaks it down so you can understand what makes that and how you age can change it. My husband and I work very hard to budget our expenses and live a comfortable life, but also save and prepare for the future. Another detail to mention about this video, is it compared the cost of living throughout the world and how different things can contribute to change that.
This video took me to another level of understanding who belongs to the middle class in the U.S. This video explains how to economist decide on the criteria to use to determine peoples social class level. The main points in this video are Income, net worth (explains how to calculate your own net worth, and lifestyle (home ownership, car ownership, etc.)
I grew up all over, and it fascinates me how the concept of middle class changes depending on where you are. I have spent time where, according to the descriptions given in this video, we were waaaay below middle class. However, because of where we lived, we could have been considered in the upper class relatively, even though by America's standards we were worse. I find it interesting!
This video really puts things into perspective, and helps you understand the middle class better!
I found this video to be very informative, and made me appreciate what class I fall under. I found the use of stats to breakdown the differences in the classes to be very helpful in truly understanding what makes up the different classes. For my age I am doing well, as I have a good job and have multiple side ventures I am associated in, I know that to continue working my way up the hierarchy of classes, that I will have to successfully manage my businesses.
This video educated me very well and made me realize as I start growing in my 20’s there are certain things I have to do to avoid being classified as middle class
I found this video very insightful to show the difference in not only social class, but also give a better understanding in the costs of living. Many places cost more or less to live in and it usually depends on population and geography, but not always. This video gives a good insight into many key factors that play roles in varying the costs of living throughout the world.
Exploring the escalating cost of living is vital for us, given its profound implications for the future. As my generation prepares to graduate and enter the workforce, we share common goals like starting families, businesses, and building wealth. The ability to articulate our class status is crucial in addressing wealth disparity and fostering opportunities. I appreciate your insightful video on this topic.
I really liked this video because it talks about the shift in income and how people nowadays determine what "middle class" means compared to what it meant years ago. Many factors go into determining what "middle class" means such as your lifestyle. I find it interesting how upper-class income has risen since the 70s, while both middle and lower class income has fallen since then. Overall, a good and informative video!
A lot of people are quick to assume who is middle class, or upper class, or lower class. I would believe my family is middle-class, but it was not always like that. Growing up my parents struggled due to the dairy industry. Once my family sold the dairy and my mom got a well paying job and dad as well, they became pretty comfortable. I am extremely blessed to have this privilege and I think it is important to recognize that.
This video provided me with a better understanding of how the middle class is classified. I do not always think about the fact that the cost of living varies drastically in different parts of the country; therefore, the middle class may look different in these places. It is also interesting to note that lifestyle is part of the criteria of being a middle class citizen, considering a person's purchases may not accurately demonstrate their wealth.
I have always been curious about how the middle class was defined. I can now say I am informed on this topic thanks to this video. It was very easy to understand because of the level in which the information was explained.
This video was very interesting as someone who's grown up almost consistently in the Middle to Lower-Middle class. I never noticed how much of an impact every aspect goes into factoring the different classes. It also further clarified how different the standard of living is in different places.
I wasn't sure if I was in the middle class or not. But this video helped me realize that I am. Very eye opening. Great video lectures.
I’ve always wondered what technically is considered “middle class”. While some middle class live comfortable, there is also middle class that lives off paycheck to paycheck. This video definitely explains the layers of middle class and gives good examples of real life family circumstances. I was able to figure out what class layer we are considered.
Growing up I was not knowledgeable about the class my family would be put into. After watching this video I learned that my family is considered middle class. Looking at the assets subtracting the liabilities helped show the net worth of my family and gave a better outlook and information to help place my family in the middle class.
The video was so interesting and in my opinion something that should be more frequently discussed. Many of us don't even fully understand what the middle class is. It is important to define its meaning and also understand the trends. This topic ties in perfectly with the class and it's very informative
The main thing that I learned and got out of this video was criteria 3. I did not know that the way you talk, walk, act, or travel had anything to do with which class rank people fall in. I never really thought of it like that but it makes so much sense that it would. After watching this video, I consider my family and I part of the middle class.
This video provided me with the proper information to understand who falls under the classification of middle class in the United States. The video shows plenty of examples of what makes a person or family fall under this category. Being in the middle class does not only depend of your income, other factors such as a person's net worth, lifestyle and much more.
marketing 101 Layla: This video does a good job really explaining what the term middle class means. It breaks it down into three criterias (Income, Net Worth, and Lifestyle) and goes into depth about what middle class means within those criteria. A point that I thought was really important when speaking about middle class was the example given when they explained cost of living and standard of living. A specific amount of money in NYC could leave you living from check to check, whereas that money in Texas can give you a luxury lifestyle. Overall, I think the video did a good job explaining the criterias of middle class.
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So far, this is my favorite video about the American middle class. That is unfortunate when the percentage of middle-class households has dropped down.
MKT 101 -- I thought this video was very well made and included a lot of really interesting information. I wasn't aware of how complex the issue of jobs disappearing and prices rising really was for the middle class
This video really opened my eyes to class structure in America. I had always considered my family and I a part of the middle class. However, my wife's and my cars are not paid off and we do not save for our children's college at this time. We do have healthcare, security, and we have purchased a home. Our home is not paid off though. I do feel that we are close to being middle class, but this video definitely gave me more to strive for.
A lot of information to consider, and it makes me feel grateful for what I have. Determining American middle-class status often involves factors like income, education, and occupation. It's a nuanced assessment that considers various economic and social indicators.
The skyrocketing cost of living is an extremely important topic to teach us about and be transparent about because ultimately we will be deeply affected by its long term effects. My generation will be graduating college and entering the workforce soon. I'm sure we all have personal goals like starting families, businesses, and building wealth. Being able to define our class status is important so we have an opportunity to bridge wealth disparity. Thank you for such an informative video.
This video was quite educational. It's fascinating to note how Americans are initially grouped in the categories. It's also interesting to note that whether you are regarded as lower, middle, or upper class depends entirely on your income, net worth, and way of life. In actuality, I'm convinced that most people are unaware of this and are unsure about exactly who belongs in the middle class, as was said at the start of the episode.
I enjoyed learning more about the American middle class and how much factors into being considered middle class.
The information here helped explain a lot of what I have experienced economically. I am definitely in the middle-class but have often been frustrated as I had noticed that staying there is not really easily done. I have managed to purchase a home and a vehicle and fit in many of the definitions listed in the video. However, costs of living versus increases in pay have not been even by any means. It seems that the middle-class of the past perhaps didn't struggle to maintain that level as much as we are today.
This is Betty Hull I just want to say that I do consider myself middle-class today. We do have a lot of debt with school loans mortgages and car payments, but even so, we care for all of our bills and live an alright life. I think for most of my life my stepdad said we were middle class but I never felt that way I was deprived of many things as a child, Today there is an affordability to have all my kids in some sort of activity still run and go as well as funds to take mini vacations well planned to make affordable but we are able to do these things.
This video helped my understanding of what the middle class is in different areas and at different life stages. I never thought about the middle class changing based on age. I always thought of it as a set income range, and never broke that down by age, or by the living location. With the middle class, the video shows how where they choose to live determines what type of lifestyle they can live, which can lead to people making assumptions based off appearances of those they look at. With this video, I wonder since it has been made, how inflation has differentiated what constitutes someone being middle class.
I am so glad that you brought up the point of how the cost of living is going up. That is something that I worry about as an American who is transitioning into the workforce soon after college. Also, I knew that median and average was going to be different but was a little shocked by the gap shown when you were comparing the net worth. I just thought that middle class was just "living comfortably" like most Americans. You brought up so many good points that better defined middle class.
The video provided insights into the American middle class, defined by income, net worth, and lifestyle. It revealed declining middle-class identification due to income inequality, highlighting the need for policies to support and uplift the middle class. I gained a better understanding of the complexities involved in defining social class and the importance of economic security for the middle class.
Since i am not from the United States, this video helped me to understand and learn about the situation that middle class Americans are facing.i also learned the impact of the economy on the society and how income can define your social class status.
This video was so interesting, because I don't think I had a real idea of what the middle-class was. I did not realize how fortunate myself and those around me have been in our lives. Lives for people in inner-city circles are living much different lives than we are here in Tyler, Texas.
This video has shown me all the different factors that go into classifying a family in "Middle Class". Because of this video and all the information I have gathered, I can proudly say my family is middle class and we have made a great life out of it.
I always knew that there was a way to separate classes, but I never knew how in-depth it really went. This is the first time I have heard of the Reich Rule. I am always surprised by the difference in working in a large city compared to a smaller city. Comparing Manhattan to Tyler is a great example of that.
One thing that stood out to me the most about the video was the quote that stated, "We read people's class through how they talk, walk, how they travel, how they act, where they live." This stood out to me because I never realized how accurate this is in my daily life. People automatically assume that someone has money based on how they carry themselves and this is a highly inaccurate way of thinking. The video proves this by stating what is truly considered Middle Class in America.
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This video was very interesting to me because I did not realize how many aspects played a role in determining whether someone is middle class or not. I think my family definitely falls into the middle class category based on the criteria. This lines up with what I though, but it was cool to get an actual list to base that thought process on.
This video gave me great insight on the various aspects of the middle class. I learned that the cost of living and the standard of living can vary greatly depending on where someone lives in the country, as well as the various lifestyle factors that can determine an individual's social class in America. Based on the three criteria which are income, net worth, and lifestyle that was mentioned in the video, my family would be considered as part of the American Middle Class.
It is surprising to see that the shift of incomes between upper and middle income; about 15% of Americans have raised their income levels from middle to upper, while lower income remain the same at about 10% for the last 50 years.
This video is interesting and very informative. It introduced me to the idea that the middle class is as much a group and an idea as much as it is an income bracket. I had never thought of the middle class that way and this is the first I've heard of the "Reich Rule" which seems so be a very accurate and flexible way to depict the middle class. -Matt Powers MKT101
I really liked this video, it was very helpful! It conveyed information in an easy to understand manner and I learned a lot about how to classify the middle class. I found the part about the cost of living in different areas particularly interesting looking at the differences between Manhattan and Tyler.
This was interesting to learn. I did not realize there was a big range when it came to middle class. I liked getting to see the different lifestyles that were explained with the middle class.
This video really helped me understand how the middle class is defined. I learned more about the income of the middle class as well. I did not know about the quintiles and that was very interesting.
I’ve always heard the term “the middle-class” but I’ve never actually known what defines or qualifies someone to be part of that. I like numbers, so seeing the statistics behind what annual incomes are considered middle-class was very helpful to me. I also never realized that net worth changed based on age. I enjoyed hearing and better understanding the middle-class lifestyle today.
MKT 101- ALMA- The video was very informative and I think is a perfect video for those living in places like New york. There are different standards of living and economic classes. I think the criteria to define the American middle was helpful and went into good details. I think it was interesting to see the different median income for a household based on the different quintiles. Overall, this video helped me better understand who falls into the middle class group.
This video was insightful to how I have always percived middle class. I've always known the economy has a lot to do with the status of a home, and this video clarified everything for me. I would say middle class is living in a comfortable struggle while lower middle class the struggles are less comfortable, and upper middle you have cushions to situations. Either way the video helps open up a perspective to what section you've grown up in if you were in the middle.
This video is crazy to me considering how wide range the middle class is. I never knew it was divided into 3 different categories. It really puts into perspective how fast the middle class is slowing shrinking due to inflation.