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One major contributor to their struggle?
Bloombergrecently reportedthe middle class is being squeezed by the cost of carrying debt.
In fact, delinquency rates on auto loans and credit cards are at the highest theyve been in decades.
Here are three activities that the middle class cant afford anymore, according toGOBankingRatesand more:
1.
Going to the Movies
Heading to the cinema can be a fun leisure activity.
However, going to the movies can be quite costly.
The Numbers indicated that the average movie ticket price nationwide is $10.78 as of 2024.
If youre going to the movies as a family, the costs can really add up.
Instead, consider watching movies at home using streaming services you probably already pay every month.
Vacations
Vacations are a time of leisure, rest, and relaxation.
They can also cost an arm and a leg depending on where youre traveling to.
This figure tops $2,000 for the fifth time since the organization began tracking vacation habits back in 2009.
Instead, consider a staycation and visit a destination close to home for a day trip.
Homeownership
The middle class American dream is becoming more difficult to achieve.
The pandemic sent the U.S. housing market into a tailspin.
Demand increased resulting in higher home prices and out-of-control mortgage interest rates.
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