GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

Man looking at his empty leather wallet in office.

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.

The contrast only got sharper after the COVID-19 pandemic.

facebook sharing button

But of course, this will vary a lot depending on where you live and the living costs associated.

You cant afford to pay for tuition to take night classes at the local community college.

Education is often considered a key factor insocial mobility and upward economic mobility, Ronald said.

twitter sharing button

This can make it difficult to break out of the lower class.

This is a chain reaction of spending versus earning.

Basically, you get your paycheck and your bank account fills up with money.

linkedin sharing button

Even worse, if there is an emergency, you haveno financial safety net.

More From GOBankingRates

Share This Article:

The Latest inMoney

email sharing button