12 Everyday Things That The Middle Class Can No Longer Afford

If you’re part of the middle class, you might have noticed that certain everyday things have become more expensive over the years. 

From homes to education, items that were once considered affordable are now out of reach for many people. 

In this article, we’ll take a look at 12 everyday things that the middle class can no longer afford.

1. Home Ownership

Owning a home has long been considered a hallmark of the American Dream. However, with rising living costs and stagnant wages, many middle-class families are finding it increasingly difficult to afford a home. 

The cost of homes has been increasing steadily over the years, making it harder for the middle class to afford a mortgage. 

With the inflation of real estate prices, it is becoming harder for the middle class to qualify for a mortgage. 

This is because mortgage lenders require a certain percentage of the home’s value as a down payment, which may be too high for some middle-class families.

2. Healthcare

Rising healthcare costs have made it difficult for many families to get the care they need.

One of the biggest expenses associated with healthcare is insurance premiums. Insurance premiums have risen by 55% over the past decade.

Even if you have insurance, you may find that your premiums are so high that you can’t afford to use your coverage. 

The average deductible for a family health insurance plan is now over $8,000. 

3. College Tuition 

The rising cost of college tuition has become a significant barrier for many middle-class families seeking to improve their socioeconomic status through education. 

The average cost of tuition and fees for a four-year public college in the United States is over $10,000 per year. 

Private schools are also a problem. Harvard, which cost $22,000 to attend in 2000, is now more than double that price, and many schools have followed suit. 

4. Pension Plans

If you’re a member of the middle class, you may be worried about your retirement savings. Unfortunately, many middle-class Americans are struggling to save enough for retirement. 

Pension plans used to be a common way for workers to save for retirement. However, they have become increasingly rare. 

Only 16% of private sector workers have access to a traditional pension plan.

5. 401(k) Contributions

401(k) plans are a popular way for workers to save for retirement. However, many middle-class Americans are struggling to contribute enough to their 401(k) plans. 

The average 401(k) balance for workers in their 60s is only around $200,000. This may not be enough to support a comfortable retirement.

To make matters worse, many middle-class Americans are also struggling with debt. This makes it even harder to save for retirement. 

6. Car Payments

Car payments are one of the everyday things that the middle class can no longer afford. 

With the average price of a new car hovering around $40,000, many families are finding it difficult to make the monthly payments required to finance a new vehicle.

In addition to the cost of the car itself, insurance and fuel costs have skyrocketed.

The rising fuel cost has made it difficult for many middle-class families to afford to drive their cars regularly. 

7. Travel Expenses

Traveling is expensive, and the cost of transportation has increased significantly. Airfare, gas prices, and car rentals can add up quickly, making it difficult for middle-class families to afford a vacation. 

With the rising costs of living, saving for a vacation has become a luxury many can’t afford.

New hotel rooms are expensive, and even older, less expensive hotels have raised their prices.

8. Smartphones, Gadgets and Internet Services

Smartphones and gadgets have become a necessity in our daily lives. However, the cost of owning and maintaining them has become a financial burden for the middle class. 

The latest smartphones and gadgets are expensive. As a result, many people are forced to use outdated and malfunctioning devices or go without them altogether.

In addition, the cost of internet services and streaming services has become too high for the middle class. 

Internet providers charge high fees for their services, and streaming services require monthly subscriptions that can add up quickly.

9. Healthy Food Options

Organic produce is a healthier option as it is grown without synthetic pesticides and fertilizers.

However, organic produce is often more expensive than conventionally grown produce. 

For example, grass-fed beef is a healthier option as it is lower in saturated fat and higher in omega-3 fatty acids. However, grass-fed beef is often more expensive than conventionally raised beef. 

The middle class can no longer afford grass-fed beef due to its high cost.

10. Daycare Services

Daycare services are essential for full-time parents. However, daycare costs have skyrocketed in recent years, making it difficult for middle-class families to afford. 

The average cost of daycare in the US is around $9,000 per year. This cost can be even higher in some states, such as Massachusetts, where the average cost is $16,500 per year.

After-school programs are also a great way to keep your children engaged in productive activities while you’re at work. 

However, the cost of these programs has also increased significantly over the years. After-school programs can cost anywhere from $50 to $500 per month, depending on the program and location.

11. Personal Savings

55% of Americans who recently couldn’t cover a $1,000 emergency out of pocket had to go into debt to cover their expenses. This is a clear indication that personal savings have become a challenge for the middle class.

One of the reasons why personal savings have become difficult is the high cost of housing. 

The middle class can no longer afford to purchase new homes, and those who already own homes are struggling to keep up with the mortgage payments. 

12. Leisure and Entertainment

Going to the movies, attending concerts, and enjoying theme parks are just a few examples of activities that have become too expensive for many middle-class families.

One of the reasons for this is the rising cost of tickets. The average movie ticket price has increased by 22% since 2009. Similarly, the cost of attending a concert has risen by 55% over the same period.

In addition to ticket prices, the cost of food and drinks at these events has also increased. 

A simple snack and drink at the movie theater can easily cost upwards of $20, while a meal at a theme park can cost even more.

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