A new survey by the Georgia Credit Unions shows that more than seventy-five percent of Georgians identify themselves as middle class.
That thought despite the fact that we keep hearing that the middle class continues to shrink.
Angi Harben with the Georgia Credit Unions says this may be because people are having lower expectations and are used to money being tighter.
“The majority of respondents said that their middle class goals included owning a home, buying a dependable car, saving for retirement, taking care of their families maybe planning for college”, said Harben
She says a lot of people may not actually “qualify” as middle class, but they want to think that they do.
Harben pointed out that incomes now, are not keeping up with the cost of living.
“The cost of living nationwide has increased 17% between 2005 and 2012. In that same time, Georgia’s median household income shrank by 13%”, explained Harben.
She also mentions costs are going up and salaries are going down.
“So, as costs go up, not only are people not getting salary increases at that same level, but they are actually losing”, she says.
Middle class individuals are qualified as those households that make between $25,000 and $100,000 annually.