I would consider myself solidly middle class. Cost of living here (in SF) is pretty outrageous especially housing, so it's easy to feel that you are not solidly middle class. I basically can't afford to leave my apartment because the rent is so good that if we were to be evicted I'd have to leave the city. But I know that I am making more than a lot of people. I can afford my apartment (shared with BF), food, eating at restaurants occasionally, etc. And most of all, I have a cushion and month to month can actually save a bit of money. I know that many people, unfortunately, cannot do that. I remember a time when having to buy deodorant or having my laundry soap run out actually made me a bit upset, because that was money I couldn't have go toward something else.
i could answer each of these questions individually as "yes" (with a few caveats) but i don't feel very secure. i am guilty of catastrophic thinking so i'm always thinking about long term unemployment, sick family, etc. that would most definitely drain my resources, financial and emotional. i don't know if there is a way one could fully protect for that type of stuff, unless being extremely wealthy.
@jennknee I guess these are slightly different things (churning versus uses 0% offers to pay off debt) but it's one of the reasons why keeping your credit good despite having debt is still a good idea
I used to do this a little bit too! I transferred about 3k with a 0% offer. I wonder that you could also do this with private student loans (federal loan servicers offer more repayment plans). Sometimes if I would go on vacation I would open up a 0% card for purchases and I'd also get like a 100 dollar bonus. Reddit is full of this type of stuff, too, /r/churning. I don't do it as much anymore because I am making decent money, but it's amazing how much you free money you can get essentially for having good credit and money already.
@swampy it does say she spends less than $1200 most months, but winter costs around $1250.
I love this article. I really liked the discussion between trade-offs between restaurants (spending money generally) and getting to keep your own schedule, etc. I'm not sure if I would take the trade-off but it's interesting to see the other side of it! Does it also mean that the interviewee's parents no longer help support her at this point in time? It IS quite a relief to know that you could always get help, and that would definitely affect my decision-making process. But I respect what she's doing!
Maybe this is the wrong approach but I tip uber drivers anyway. They don't decline! (I have only used uberX, though.) But an interesting piece.
@aetataureate I'm genuinely curious what you mean? Her story seems believable enough to me.
life doesn't want to conform to your cash flow unfortunately, so take the free loan and put all the essentials on your credit card since you can pay it off later :)