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Economists and financial experts often struggle to accurately define the financial/economic middle class, primarily due to the numerous indicators and variables that need to be considered.
However, as a benchmark, we can determine whether we have entered the middle class by the following signs:
1. Owning a home in your own name
2. Owning a motor vehicle or car
3. Having investments, savings, an emergency fund, and insurance
6. Having the ability to repay debt
7. Being able to finance your children's education.
However, as a benchmark, we can determine whether we have entered the middle class by the following signs:
1. Owning a home in your own name
2. Owning a motor vehicle or car
3. Having investments, savings, an emergency fund, and insurance
6. Having the ability to repay debt
7. Being able to finance your children's education.