5 Ways To Tell If You’re Middle or Lower Class

Socioeconomic Status: Signs That Determine Your Class

August 2, 2024 at 9:00 AM

Socioeconomic status is complex, with blurry lines between classes. However, your lifestyle and wealth-building opportunities often depend heavily on whether you fall into the middle or lower class. There are subtle signs that reveal where you stand.

Your Housing Situation

Housing is one of the largest family expenses. If you’re struggling to afford a comfortable, safe home in a decent neighborhood, it may indicate your middle or lower-class status.

Your Occupation

Certain careers are clearly white or blue-collar, automatically projecting a working or middle-class image. Jobs like waiting tables, driving trucks, working retail, manufacturing, and cleaning services signal a lower economic tier.

Your Savings and Investments

Saving and investing provide crucial financial cushions and opportunities to build wealth over time. Building those reserves is a luxury many lower-class folks can’t afford.

Your Lifestyle

“Can you afford a vacation every year, eat out often, or buy new stuff without worrying too much?”

Little luxuries like these require a baseline of financial security. They demonstrate having an extra cushion in your budget for minor pleasures.

Your Education

Did you earn a bachelor’s degree? Then you are most likely middle class. Your highest education level is a good indicator of your economic rung. Systemic barriers tend to block the path to higher education for individuals in the lower class.

While a degree certainly doesn’t guarantee middle-class standing, lacking one may indicate barriers to getting there. Use it as one data point among many in assessing where one stands or falls among the classes.

SDGs, Targets, and Indicators

1. SDG 1: No Poverty

   • Target 1.2: By 2030, reduce at least by half the proportion of men, women, and children of all ages living in poverty in all its dimensions according to national definitions.
   • Indicator 1.2.1: Proportion of population living below the national poverty line, by sex and age.

2. SDG 8: Decent Work and Economic Growth

   • Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
   • Indicator 8.5.1: Average hourly earnings of female and male employees, by occupation, age, and persons with disabilities.

3. SDG 10: Reduced Inequalities

   • Target 10.2: By 2030, empower and promote the social, economic, and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion, or economic or other status.
   • Indicator 10.2.1: Proportion of people living below 50 percent of median income, by age, sex, and persons with disabilities.

Analysis

The article discusses the indicators of socioeconomic status and how they can determine whether an individual falls into the middle or lower class. Based on this analysis, the following SDGs, targets, and indicators can be identified:

1. SDG 1: No Poverty

The article highlights the distinction between the middle and lower class, which is closely related to poverty. Target 1.2 aims to reduce the proportion of people living in poverty, and Indicator 1.2.1 measures the proportion of the population living below the national poverty line.

2. SDG 8: Decent Work and Economic Growth

The article mentions occupations as a factor in determining class status. Target 8.5 focuses on achieving full and productive employment and decent work for all, while Indicator 8.5.1 measures average hourly earnings by occupation.

3. SDG 10: Reduced Inequalities

The article discusses the social and economic inclusion of individuals, regardless of their status. Target 10.2 aims to promote the inclusion of all individuals, and Indicator 10.2.1 measures the proportion of people living below 50 percent of the median income.

Table: SDGs, Targets, and Indicators

Source: aol.com