What is upper middle class buying?
The upper middle class spends more on leisure, entertainment and a range of services, often paying for quality and for differentiated products that suit their specific tastes. The rich are able to afford luxury goods and services and are less sensitive to price and budget constraint issues.
What can a middle class afford?
What does a ‘middle-class’ budget really look like in today’s…
- $600 in rent on a two-bedroom house.
- $550 in student loans.
- $800 on groceries and dining out (which includes the supermarket tab, toiletries and supplies for three cats)
- $482 on transportation (includes 2 cars, one is paid off)
- $340 in credit card debt.
Where do families spend their money?
Nearly 75\% of expenditures for families living in or near poverty goes to food, transportation, rent, utilities, and cellphone service.
What do most people spend their extra money on?
Most consumer spending falls into the larger categories of food, housing, transportation, healthcare, insurance, and other goods and services. Housing alone accounts for almost a third of spending.
Who are the middle class people?
Over 48\% of people in the world population comes under the middle class. The life of middle-class people is quite suffocated when compared to the poor and rich. Let’s have a look at the lifestyle and problems that middle-class people face.
What do rich and poor families spend their money on?
Poor, middle class and rich families spend similar shares of their budgets on clothing and shoes, and on food outside the home. But poor families spend a much larger share of their budget on basic necessities such as food at home, utilities and health care.
Is it difficult to lead a life in the lower-middle class?
It is difficult to lead a life in lower-middle-class status. Life is all about compromises, adjustments, and hopes for the lower-middle-class families. It’s better to have nothing or everything than having insufficient. The lifestyle of the MC people can be explained simply.