[AuntB]

I worked in credit/collections for 20 years. People just do not understand how truly scary this is. But then most people are in debt up to their eyeballs and don't see how close that is to going over their heads.

[ExSES]

I worked in credit/collections for 20 years. People just do not understand how truly scary this is. But then most people are in debt up to their eyeballs and don't see how close that is to going over their heads.

I FULLY AGREE!!!

While my Father preached fiscal responsibility when I was a kid, it was not until I worked as a "Repo Man" upon graduating from college that I truly appreciated his economic advice . While I didn't spend long in that endeavor, I stayed long enough to see and, more importantly..., learn enough about self-induced economic misery to fully reinforce my Father's teachings...

Best "real world" educational experience I ever had!!

[FITZ]

But then most people are in debt up to their eyeballs and don't see how close that is to going over their heads.

"Middle-class" used to mean the group of people whose paychecks pretty much met their needs --- who had to work for a living but could live with their income and even have a few luxuries and accumulate some savings. With the high debt many people are living in, I don't think they are really what you could call middle class anymore --- they have the lifestyle and the few luxuries but they're unable to save and many are at the edge of financial disaster.