Based on all of our different backgrounds and the way that we grew up, we all define "struggling" financially by different terms. We're all living life going through different motions and situations with different salaries, however, a recent tweet about living on $350k a year and "struggling" is something we can all pretty much turn up our noses to.
Here's what happened: MarketWatch posted an article from Sam Dogen's Financial Samurai blog that claimed a $350,000 dollar salary “barely qualifies as middle class.” They tweeted this information out along with an infographic that further explains his theory behind the stats and people are not having it - and rightfully so.
We think that we can all agree collectively that this is a bit excessive, and everyone is calling it out. The thing that stands out mostly is that there are quite a bit of lavish things happening in this budget such as $24,000 on preschool and a mandatory three week vacation.
$400/month on clothes, $500/month on entertainment, $70/day on food, and two vacation trips a year? They're not struggling, they're just spending their money.— Matthew Prorok (@MJtheProphet) October 1, 2019
I mean, you don't HAVE to pay extra towards the principal on your mortgage. So that's ~$2000 a month discretionary.
Most people aren't dishing out that kind of cash for pre-school or vacationing that much. It also notes that the budget is for a family of four who are living in an expensive metropolitan city.
$1.8 million for their residence? I could practically buy my entire side of the block for that.— Frank Jannuzi (@FrankJannuzi) October 1, 2019
Oh, and did we mention that they also bought a 2 million dollar house somewhere in there, too? This obviously isn't how most people in America are living.
Student loans also came up quite a bit during all the twitter ranting, with people saying things like, "Love that (1) only the husband had student loans, which by the way (2) only amounted to $50k and which he (3) paid off at age 30." Hmmmm.
Congresswoman for NY-14, Alexandria Ocasio-Cortez even swopped in to say, “Struggling” with what? Math?"
And of course, people were quick to point out that this is pretty much the opposite of what "Struggling" actually looks like. Privilege much?