Is Our Middle Class Fading

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We all worry as to whether or not the $700 billion stimulus package is going to be our country's salvation. No one wants to be a skeptic as to how that money will truly be spent.

Sadly the mess we are in as a nation began long before its arrival with declining wages and rising expenses continually chipping away at the little bit middle income families were making. Mom and dads, single households tried to adjust working a second job, longer hours, depleting savings and creating more debt to simply get by.

The strongest class that once was, is no longer because they find themselves crushed by debt and rampant job loss is making the problem even worse. Our financial system can not be made stable without strengthening families. If they continue to choke on debt they cannot pay and the blocks will continue to tumble.

Communities are deteriorating at a rapid rate and the middle class is at a pivoting point. The outcome will prove either one of two ways when all is said is done: middle-America  will become stronger and wiser, reducing their debt and creating a stronger safety net not just on their own, but through stronger government regulations OR, it will disappear altogether.

No one wants to be part of a class that lives paycheck-to-paycheck but, right now, we are. One of the hardest lessons this crisis has taught is that taking on debt is dangerous for individual families. For decades, families have been doing it knowing it would catch up with them ... and sometimes because lower wages and rising costs meant it was simply the only way they could live the most basic life.

What can middle folk do to bring some sense of financial security into their lives now?

Do not take on any more credit card debt ... it is only exasperating the problem. Pay off whatever short term debt you may have, then tackle the car loan, and then finally try and chip away at your mortgage.

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