How to Judge If You Are Middle Class Status

Your income plays an important part in determining your class status. To fit into middle class status, your income for a family of four with two parents would be between $51,000 and $123,000 with the median being $81,000. However, these figures are from a 2008 study, which have fallen about five to seven percent over the past years because of a recession in from 2008 to 2010. A single parent family with two children would be $25,000.

Health coverage plays another role in determining the middle class status. On the average, a family with two parents could spend $5,100 per year for non-covered medical expenses and health care if the employer offers health insurance. Since 1990, medical costs have risen more than any other part of the family budget according to a study done by Vice President Joe Biden's middle class task force.

The middle class family of four can take a vacation that covers one week at the beach for $3,100, whereas a more influent family of four can take a vacation for two weeks at a cost of $6,100.

You are in the middle class status if your everyday spending for living, entertainment, utilities, food and clothing amount to $14,200 per year. However, most families are trying to reduce this amount to make ends meet.

Debt peaked in 2008, with 18.9 percent of disposable income being paid for credit card debt, loans and mortgage payments. In 2007, the Federal Reserve noted that household net worth was down by 30 percent and a typical net worth for a household is $84,000.

The number of hours worked per year for one household with two parents is about 3,747. This figure is up by five percent from 1990. The typical household with two parents finds at least one parent with a high school diploma and at least two years of college. This is up since 1990 by one full year of college, which could mean a dim future for those that feel completing high school, is not worth it.

Summing up the middle class status takes into consideration, the number of earner in a family, free time, retirement savings, and college savings, cars and housing costs.

The economy plays a role in the status and statistics in determining a middle class status. However, in past years, the status has changed and in future years it will change again. The recession can cause a change in any class status.