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The Rachel Cruze Show

How Inflation Has Changed the Middle Class

The Rachel Cruze Show

Ramsey Network

Self-improvement, Education, Investing, Business

4.83.6K Ratings

🗓️ 29 August 2022

⏱️ 25 minutes

🧾️ Download transcript

Summary

How much money do you need to be “financially comfortable”? Inflation has reshaped the middle class, but there’s plenty you can do to keep your financial peace. From groceries and utilities to your everyday choices and “fun money”—we’ve got tips to help you save money and create a life you love! Here’s what’s coming up: Does America Still Have a Middle Class? The Four Keys to Financial Security Sneaky Ways Movie Theatres Rip You Off Helpful Resources: Christian Healthcare Ministries EveryDollar Financial Peace University Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programming. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programming you are viewing: Christian Healthcare Ministries. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You don't have to have a net worth of $1.7 million to be financially comfortable if you

0:10.2

have margin, if you're following the baby steps, and you're doing the things that you have

0:14.3

to do for yourself in the present and the future.

0:16.8

You actually can start achieving those things right now.

0:20.8

Hey guys, welcome to this episode of the Rachel Crucio podcast.

0:25.5

I'm so glad that you're here.

0:28.1

In this episode, we're going to talk about how inflation has affected the middle class.

0:32.7

I'm going to go over what it means to be, quote unquote, financially comfortable.

0:37.6

Some people think it means having over a million dollars in the bank, but is that true?

0:42.9

Let's talk about it.

0:44.6

We all love going to the movie theater, but doesn't make sense financially.

0:49.5

We're going to talk through a few sneaky ways that movie theaters try to get you to spend

0:53.8

more money, and I'll give you some insider tips of how to get around those tactics.

0:59.8

But first, let's go over some ways on how to budget on a change of income due to inflation.

1:05.0

So take a listen.

1:06.6

So the middle class today, the income range is considered middle class for a single American,

1:11.9

is about $30,000 to $90,000.

1:15.1

For a three-person family, it's about $52,000 to $156,000.

1:22.4

That range is considered a middle class, again, for a three-person family.

1:25.8

Now, think back to 2010, and the median income for middle class was a little under $80,000

1:33.4

for a family of three.

1:36.2

So $80,000, now it's $156,000 on the high end.

...

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