[Pfhreak]

I mean, I agree about envelope budgeting and smart saving. Avoid debt is essential to financial health.

> Anybody with a middle class income can do it.

This seems obviously false to me. Let me construct a reasonable case for someone who is middle class income but who I do not believe will be able to meet your savings goals.

Let's assume a single parent, at the median income level of $31,000/year living in Seattle. That gives them $2,500/month to cover food, housing, clothing, childcare, medical care, etc. Rent and health insurance probably eats 1,500 of that alone. To say nothing about saving for a kid's education, buying them school supplies, etc.

Even if you scrimp on food, clothes, etc. you are going to have a real hard time consistently setting aside $500/month.

[Wheaties466]

I hate to break it to you buddy but 31k is the poverty line, not middle class.

http://www.commerce.wa.gov/wp-content/uploads/2019/03/DRAFT-...

[Pfhreak]

Any definition of the middle class that doesn't include the middle of incomes seems wrong to me. Median means half above, half below, how would that not be the "middle" class?

[itake]

Where did you get the $31k as the median income for Seattle? This source says it is closer to $95k?

https://www.seattletimes.com/seattle-news/data/seattle-media...

[Pfhreak]

I took the national median per capita income. Looking at King County's per capita median income puts it closer to $46k. [1] I also suspect I low balled the housing and medical insurance costs.

[1] https://www.census.gov/quickfacts/fact/table/kingcountywashi...