24. They Can Pay Their Bills On Time
Most middle-class people can afford to pay their bills each month. When surveyed, 84% of people claimed that they had no problems paying rent, utilities, and all of the other responsibilities that come along with adulthood. Typically, they will pay their bills as soon as they get a paycheck. It’s only after the expenses are paid that they may make bad financial decisions. Sadly, many people closer to the poverty line struggle to pay their bills. They may go months without paying a bill, even if it is destroying their credit score. The lower class is the first to stop services like Netflix for a month.
The problems begin after the necessary bills are paid. Keep in mind that if you make your minimum payment on your credit card, you technically do have all of your accounts paid, but the interest on that credit card is still accruing and pulling you deeper and deeper into debt. Some people think that because the bills are already paid, they can put more unnecessary purchases on the credit card because they feel like paying their bills means they are doing well financially. Instead, they need to include putting money into savings as one of their bills instead of making unnecessary purchases that they cannot afford.