Understanding one’s socioeconomic status is quite difficult but simple indicators like lifestyle and wealth creation opportunities can reveal where you stand.
1. Occupation
You’re considered lower class if you do low-skilled manual labor, temporary jobs, customer service, with lower wages and fewer benefits. Also, jobs like waiting tables, driving trucks, working retail, manufacturing and cleaning services signal a lower class. However, if you work in a managerial or specialized position, have a moderate income, comprehensive benefits, and a certain level of job stability, then you are middle class.
2. Savings and Investments
If you have a good amount of money saved, invested or a retirement plan, then it implies that you are a typical middle class. However, if you live paycheck to paycheck and not have enough for emergencies or retirement, you are a low-class person. Having no savings and investments ensures that you remain vulnerable in debt and crisis
3.Housing
Having a roof on your head is a huge expense and if you cannot find a comfortable house in a decent neighborhood, then that is a sign that you are low class. Building or buying a house in areas whose property prices are high, yet able to maintain your mortgage payments and taxes without struggle is an indicator that you are middle class.
4.Lifestyle
If you cannot afford a vacation every year, eat out often, or buy new stuff without worrying, you definitely are middle class. They mean that you have extra finance for little luxuries. One might save up for them, but that does not mean that they are financially secure.
5.Your Education Having a degree surely does not automatically put you in the middle class and also not having it shows that you struggled economically to obtain it. Higher education may guarantee better-paying jobs, but if university is expensive and you can’t go, then you’re in the lower class. In most cases you have to do odd jobs to take care of family rather than study.