Why The Middle-Class is Broke
I grew up middle class and we had just enough money to get along. We were never hungry or wanted for much, but I experienced my mom always fearful about money. I remember watching mom clip coupons, looking for the best deals, and always worried the money wouldn’t go far enough.
At the age of 16 I told her, “One day I am going to be rich and take care of you and help others.” My mom said, “Money won’t make you happy, we have more than most — be grateful.” I told her, “I am grateful, I just don’t want to be worried about every day of my life.”
Recently a guy said to me, “Money won’t make you happy.” I thought to myself, “Son, you’ve never had enough money to give anyone advice on the subject.” Everywhere you look; TV, radio and social media are giving advice of subjects they have not perfected themselves.
When it comes to money there is so much bad advice it’s no wonder the entire middle-class struggles with it. Bankrate released a national survey saying 63 percent of Americans don’t have enough money for a $500 car repair. These are the same people that giving you advice at the office lunch table.
How can it be in the wealthiest country on the planet with the biggest middle-class in the world that the average person has less than $3000 in savings and seventy percent of Americans live paycheck to paycheck. Why are so many people in the wealthiest middle-class in the world struggling with money? Because they are trapped by the ideas of the middle class.
I was 25 years and broke. I literally had more money when I was fifteen than twenty-five. How is that possible? I was better educated and had less. I had adopted my ideas about money from people that had money problems. This perpetuated my condition of being poor. When I finally had enough of it I started working on deconstructing the beliefs and actions that trapped me. I committed to never listening to those without and learn only from those that had created financial freedom.
“Don’t be grateful for the middle class be in a hurry to get out of it!”
The first thing you must do is commit to getting out of the middle class, middle class beliefs and middle class concepts. Start by identifying beliefs you may have adopted which prevent you from having financial abundance:
1) “Money won’t make you happy.” Everyone knows this — it is a stupid and irrelevant comment on money. When you hear someone say this know immediately this person has given up on money.
2) “A penny saved is a penny earned.” A penny saved is a penny and will never be more than a penny. This is your dad’s idea that kept him broke.
3) “Save your money.” Poor people save money and rich people invest money.
4) “Money doesn’t grow on trees.” Money is printed by man and is plentiful. Anytime there is a shortage we print more.
5) “Get a good deal when you buy something.” Good deals don’t make people rich, making big deals makes you rich. Poor people put too much attention on price and not enough attention on value. The best deals I have ever made were those I paid a premium for.
6) “Don’t put all your eggs in one basket.” This popular concept was sold to the middle class by Wall Street to create mutual and index funds. The wealthy don’t diversify they have big investments in small numbers of things. Warren Buffet says, “Wide diversification is only required when investors don’t fully understand what they are doing.”
“The middle class is a myth perpetuated by politicians to keep the people civil.”
I want to help you achieve financial freedom. Whether you make $60,000 a year or $160,000 a year, you can be trapped. The first thing you must do is quit believing in anything MIDDLE CLASS. The middle class is a myth perpetuated by politicians to keep people civil (grateful as my mother said). Don’t be grateful for being in the middle class be in a hurry to get out of it!
I am sure you know some other popular middle class money ideas that keep people poor and would love to see them in comments.
I hope this helps you,