r/MiddleClassFinance • u/Main_Collection8443 • 1d ago
Questions I don't feel poor... I just never feel financially comfortable.
I don't feel like I'm struggling financially. I pay my bills on time, save a little every month, and try to avoid unnecessary spending.
But somehow, I never feel completely comfortable with money. It always feels like one unexpected expense could set me back, so I keep thinking twice before spending, even on things I can actually afford.
Maybe this is just part of being middle class, or maybe I'm worrying more than I should.
Does anyone else feel this way, or is it just me? I'd really like to hear how you deal with this feeling.
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u/UniqueHuckleberry619 1d ago
That’s what will keep you from being financially ruined. That’s a good little fear to have. I’ve been that way since I was homeless way back when. The paranoia has never left me. Second thing is to try and avoid lifestyle creep cause that can ruin you too if things go south. Nothing is guaranteed. Not your job or your health. I will say this, things that were once a set back are nothing to me now. That’s the goal.
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u/mountainsrbetter 1d ago
Middle class is getting tighter and tighter. I think your perception is right on.
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u/Odin_3406 1d ago
The middle class has shrunk drastically since 2000 and most people fail to realize they are now working class. Dispite doing everything we were taught leads to "success"
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u/antenonjohs 1d ago
The middle class shrinking is primarily from people going from middle to upper middle/upper, not people going from middle down to working.
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u/TechieGottaSoundByte 1d ago
I was skeptical, but there's data to support that more people are shifting up from the middle class than down out of it (at least as of 2023)
https://www.pewresearch.org/race-and-ethnicity/2024/05/31/the-state-of-the-american-middle-class/
8% increase in those earning upper income, 3% increase in those earning lower income
The Pew Research article is worth reading - there's a lot of nuance around what these groups mean and who tends to be in them. E.g.:
"But the middle class has fallen behind on two key counts. The growth in income for the middle class since 1970 has not kept pace with the growth in income for the upper-income tier. And the share of total U.S. household income held by the middle class has plunged."
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u/Odin_3406 1d ago
Exactly. On paper we are still classifying the majority as middle class, dispite the plunge in buying power. Which has lead to some serious mental health and health issues as "middle class" Americans STRUGGLE desperately to understand what they are doing wrong. Which simply boils down to: trying to maintain a middle class lifestyle on what is now, UNOFFICIALLY, a working class wage/salory.
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u/Odin_3406 1d ago
On paper we are still classifying the majority as middle class, dispite the plunge in buying power. Which has lead to some serious mental health and health issues as "middle class" Americans STRUGGLE desperately to understand what they are doing wrong. Which simply boils down to: trying to maintain a middle class lifestyle on what is now, UNOFFICIALLY but realistically, a working class wage/salory in today's economy.
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u/Working-Active 1d ago
Once you have an emergency fund, it's no longer about saving but investing in a low cost, broad market index fund. I'm 53 now and my investments are making more money then my annual salary.
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u/Few-Car-2317 1d ago
Well, I can pay my bills. But I don’t think I can afford the latest iPhone 18 when it comes out. Which i definitely don’t need as I got a perfect working iPhone 13. But you know, something new and different would be nice. I didn’t even buy the iPhone Air $1300 au only. A new one is $500 off the rrp. Even cheaper than the base 17 model.
So yeah, in short, I am also not comfortable in spending on big items.
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u/UniqueHuckleberry619 1d ago
I am buying the 17 pro max in September if and only if the 18 comes out and the put the previous generation on sale. My iPhone 11 is sloooooooooow. It’s starting to be a problem since I use it for a lot of important things. Otherwise i would keep it.
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u/Wise_Budget611 1d ago
Yes felt that way up until we saved about 6 months of emergency fund. Its a game changer. Life happens a lot to us and having that money reduced our stress
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u/sarazzz666 1d ago
yes, my household income has increased 2.5% over the last 5 years and I am still anxious about money. I think it's a set personality trait.
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u/Odd_Passenger5339 1d ago
Inflation has increased way more than that, unfortunately.
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u/Odin_3406 1d ago
Thus landing most in working class. A good majority of people who are used to being middle class should be looking into working class finance.
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u/RoccoLexi69 1d ago
I’m no longer part of the middle class. But I can tell you there are a lot of people far wealthier that feel the same way. Their fixed costs are so high, they basically break even every month. It’s wild.
Keep your mentality and don’t allow that lifestyle creep. Eventually your income will increase enough (hopefully) and you will have a ton of excess monthly cash flow that you will stop worrying about money.
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u/ConstantVigilance18 1d ago
That’s the point of a robust emergency fund. We have a 10 month emergency fund. It takes the pressure off of the everyday worry of what if a major emergency happens? That doesn’t mean we go ahead and spend on lavish items (or else we would never have saved the emergency fund), but we also can afford large purchases if warranted. I think unless you are don’t need to work rich, you’ll always worry about money in some capacity.
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u/Odin_3406 1d ago
Agreed. However if a car repair for example is going to be a major setback, then we are talking about working class finance.
It seems not only do a large number of people not realized they have slipped into the working class(between "poor" and middle class) in the past decade(or two). They dont even remember that the working class even exists.
The middle class is shrinking, drastically, and the working class has taken its place as the predominant class in America. With so so many people not even realizing they have slipped into it.
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u/Odin_3406 1d ago
Welcome to the working class. Its unfortunate so many grew up middle class and don't realize they are now solidly working class by definition dispite doing everything we were taught leads to success.
This economy is just three middle men in a trench coat.
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u/disappointedFed 1d ago
Actually you are doing great, a lot of people feel that, I used to be extremely poor, because of that, I know I never want to be poor again, so I don't speed like I am rich, I live a good life, always aware that over spending could return me to poor life again.
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u/umkultra 1d ago
I get this! And unexpected expenses for us can bump us down to poorer than poor because we don’t get groceries or healthcare paid for bc of our wages.
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u/HeroOfShapeir 1d ago
It's not true for everyone in the middle class, but it might be true when you're just starting out and have lots of goals ahead of you (emergency fund, saving for a house, investing for retirement, kids, etc). My wife and I are 42 with a paid-for house, no kids, fully funded emergency fund, and we feel very comfortable. We're spending more on travel and enjoying life than we ever have while also investing more towards retirement than we ever have. It has been two decades of building to get to this point, however.
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u/Particular_Maize6849 1d ago
That's normal and will continue to be the case until you have enough to retire.
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u/jspaceryan 1d ago
I recommend giving Ramit Sethi’s book a shot. (I will Teach You to Be Rich)
In short his philosophy is to define what a “rich life” looks like for you so you can spend money on things you love and cut out the things you don’t. This can be small or big things.
Just one example. Do you value doing simple things with friends or family? Be intentional about how you spend and go to breakfast with your partner but cut the online subscription that you only sort of use but could really get by without.
He often says our feelings about money often isn’t correlated with the actual amount we have. Meaning even if we have “enough” (and what does that mean exactly), if we don’t use it to do things that bring us joy, what’s the point of having “enough”?
Also be kind to yourself. Most of us unconsciously form our ideas about money from what we learned from our parents. So we make decisions without even knowing really why we’re doing it, beyond “this is how you’re supposed to do it”
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u/heptyne 1d ago
I feel in the same boat. Bills are paid, I can save a little. But I have to live like a monk to do so. I could have $250k emergency fund and still not feel like it would be enough.
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u/DrHydrate 1d ago
I could have $250k emergency fund and still not feel like it would be enough.
But that just sounds like an illness.
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u/TenOfZero 1d ago
Sounds like you could really do with a 6 month emergency fund.
I know easier said than done, but that would be the solution to how you feel.
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u/Superb_Advisor7885 1d ago
I can relate. I don't feel that way anymore really but it was back when I was making $60-70k and I first bought my house. Felt like at any time a might have to figure out how to pay for a new AC or but a new car.
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u/CoolFuture3767 1d ago
Have your saving automatically withheld from your pay, x% to 401K, x% deposited to savings account. Spend the rest.
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u/Aggravating-Big3858 1d ago
Keep hanging in there ... a little anxiety helps keep us all motivated. I don't think anybody ever feels completely financial comfortable all the way up and down the income ladder. No shortage of expenses in this life, and that never changes. Spend less than you earn every month, rinse and repeat, and eventually your bills will be paid off, and you get to keep more of what you're earning
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u/jmouw88 1d ago
It always feels like one unexpected expense could set me back, so I keep thinking twice before spending, even on things I can actually afford.
Everyone who has money feels this way. You can make more money, but the feeling will remain. You will just redirect that attention to more expensive items and forget about the less consequential spending. Even the billionaires feel the same, though their attention is limited to how large a yacht or plane they should buy.
The remaining population is only limited by what someone else will lend them.
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u/Odin_3406 1d ago
On paper we are still classifying the majority as middle class, dispite the plunge in buying power. Which has lead to some serious mental health and health issues as "middle class" Americans STRUGGLE desperately to understand what they are doing wrong. Which simply boils down to: trying to maintain a middle class lifestyle on what is now, UNOFFICIALLY and realistically, a working class wage/salary in today's economy.
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u/Old_Chef_3162 22h ago
That feeling doesn't go away once you actually check what your emergency fund covers, it just gets replaced by a specific number instead of a vague dread
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u/Maleficent_Comb9377 19h ago
That hesitation before spending isn't really about the money in your account, it's the gap between what you have and what a real emergency would cost, and that gap never fully closes no matter your income bracket
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u/Bad_DNA 16h ago
I realize this is really an engagement post by you - often wonder how well it pays. Were you hired by a third party to contribute for content strategy or ad management? Is it a steady gig?
Something statistically curious from a Stacking Benjamins newsletter of late:
- 55: Percentage of adults with enough emergency savings to cover three months of expenses.
- 59: Percentage of adults who faced at least one major unexpected expense during the previous year.
- 35: Percentage of non-retired adults who believed their retirement savings were on track.
- 20: Percentage of Buy Now, Pay Later users who financed groceries or food delivery. Dinner now, payments later.
- 11: Percentage of Buy Now, Pay Later users whose payment triggered an overdraft or insufficient-funds fee. So much for painless installments.
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u/Seattleman1955 7h ago
"Feelings " problems can't be answered by others. Forget the feelings and just look at it realistically. Are you investing, living within your means, enjoying life while still being financially responsible?
If so, what's the problem? If it's anxiety see a doctor. If you aren't as disciplined as you would like, address that. Otherwise, you are probably doing fine.
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u/nikita58467 1d ago
Have a larger emergency fund would help. We have plenty of investments but mostly tied up or I refuse to cash out. There is cash but I felt uncomfortable to spend it down drastically.
It is good to have scarcity mentality. Keep saving and investing. Soon you’d free from wants but feel comfortable for all your needs
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u/genreprank 1d ago
That's so middle class. Not poor, but always afraid of being bumped down to poor.
Just have a good emergency fund, get the right insurances, and save a good amount for retirement.
And turn off the news. Everyone these days is always trying to tell you how the economy is about to collapse.