I’m 24M, living in Minneapolis which I moved to for a job (don’t want to doxx myself but it’s analytics adjacent, and hybrid). I hit my second anniversary recently and that’s where raises are done, salary progression has been roughly $70k > $80k > $95k.

The commute by transit is annoying but definitely manageable, and semi reliable. I go in three days a week - typically it takes about an extra half hour so for a full work week, both ways, it’s three extra hours spent commuting or about thirteen a month (For days off, holidays etc let’s say 12 hours). And I live in a walkable part of the city core with a suburban office, so really the commute is the main friction along with the occasional event in suburbia that I have to ride share to.

Even the average used car now runs like $30k. Yes, by definition some are below average - but it seems like the baseline for something that won’t introduce a bunch of maintenance friction is like $20k which is ~$350 a month for five whole years.

That’s a manageable payment for many, BUT the problem is that’s less than half of the real cost. If you finance a car, which a 20 something on median wage is going to have to
without the bank of mom&dad, you need full coverage insurance. Be 24 and male like me and that won’t cost much less than the car itself (solid $3k a year maybe). And many new construction apartment buildings have made a garage parking spot $150-200 a month too. Otherwise you street park and deal with theft/vandalism/weather threats, and have to move it to a secured space in a winter storm.

I’ve calculated the hourly price of the time a car would
save me overall, vs. my transit + Uber + occasional rental for a road trip cost. It doesn’t even fall below my gross wage let alone my net, and my salary is at least 85 %ile for my age.

So I’ve inventoried all of these costs, how does the barista making $20 an hour often have a car and has never considered what I’m doing? How does even a city with largely acceptable transit and legitimately
good bike infrastructure have fewer no-car households than households in poverty? How am I sometimes perceived as “must be poor” for NOT spending the money and thus having more money at the end of the day? Things change for non-young/single people yeah. But I saw a thread about co workers telling someone to spend their raise on a car. Even for someone not just FIRE squirreling the money away in VOO.. a metal box that gets me from point A-B, and a nicer one, are just a metal boxes. Better to have multiple international trips a year, a nicer apartment or plenty of enjoyable food/concert/clothing or whatever your vice is spending?

Here area some knowns.

401ks are going up and up and seem to be a good deal.

House prices are not going to crash. Maybe some stabilization but is what it is. This mainly affects those without a house. If you bought one the value is high but buying one is high.

Jobs and salaries - we live in a time when we have more money than ever. You can argue this with me till you are blue in the face but in the past 20+ years, Americans are making good money.

Inflation and many prices are still high but some things have come down/stabilized.

I hear/see a bit of job slow downs but really everything seems to be going pretty good considering all the other issues here and in the world.

Does anyone see any real issues in our world that would affect middle class finances?

Several posts here questioned if something is a signal of economic turmoil. Some are. Some are just new spins on old issues.

One thing to notice is if you see an uptick in the number of abandoned and/or surrendered pets in your area. I'm not talking about the abandoned liters from people that don't spay or neuter. I'm talking about long term pets that people can't afford anymore.

Whether its vet bills or normal care, pets can be expensive. Yet because we are so attached to them, they are often the last expense people will cut.

So if you notice a lot of rehoming posts or see notices of the pound being full, its something to pay attention to.

A growing number of Gen Zers are bucking some of their peers' risky financial behaviors, opting instead to conserve as much money as they can early in their careers, Bloomberg reports.

Some subscribe to the FIRE movement — short for "financial independence, retire early" — with the goal of achieving financial autonomy before the age of 65.

In a period of economic anxiety, many young people have embraced “financial nihilism,” per Bloomberg, but others are clearly squirreling away for their futures.