Thursday, May 22, 2008
Redefining Middle Class
I heard recently that "Middle Class" is being redefined as a result of the current economy. That makes sense because we can all afford less and will be required to lower our standard of living accordingly. Would someone please make that clear to today's kids? My son's 12th birthday is coming up, and he's asking for the moon! He needs to lower his expectations to match my disposable income. My daughter will turn 16 in October, and she tells me she's in no hurry to drive since she won't be getting a car. It seems that's the norm for kids now. You turn 16, and you automatically get a car. She wants to get a job this summer, and she'll be learning about income vs. expenses. I plan to charge her for one gallon of gas each time I take her to work. After all, there are no free rides in life.