People Who Make Decent Money But Still Feel Life Is Unaffordable Usually Struggle With These 5 Things
Irene Miller | ShutterstockWe’re living in a time of unprecedented economic instability, so much so that even people who make decent money still feel like life is unaffordable. It seems like everyone outside of the top 1% is struggling.
In many cases, people are making more money than their parents did at their age, but they’re still having a hard time hitting milestones like buying a house or starting a family because the money they make just isn’t enough in today’s economy. These people are not broke by any means, according to New York Times contributor Sabrina Tavernise, who spoke to young adults for an article on the subject who were making as much as $90,000.
But, as she said, “They knew they were not poor. They could afford to buy eggs. But they are contending with an economy that has grown increasingly unequal in recent decades.” In many cases, people actually are making decent money these days, but they still feel like life is unaffordable.
People who make decent money but still feel like life is unaffordable are usually struggling with these 5 things:
1. Paying off debt
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One of the biggest issues people are struggling with these days is the inescapable nature of debt. Since most people don’t have enough money to afford things in the first place, even if they’re making decent money, their only remaining option is to take out loans. This is particularly problematic for young adults.
Newsweek commissioned a poll by Talker Research to determine which generation has racked up the most debt, and Gen Z was the leader by a wide margin at $94,101. 52% of Gen Z said that debt was “on their minds most or all of the time.” This isn’t surprising given that Gen Z was basically promised that a college degree would be the ticket to a successful career, even though that’s becoming increasingly rare. The Education Data Initiative reported that the average borrower’s student loan debt was $39,075.
Even if someone is bringing in a pretty good paycheck, having to deal with paying off debt can completely derail their finances. Plus, when someone gets into the cycle of taking out loans, it can be hard to get out of it. It’s understandable that life would feel unaffordable in this case.
2. Increasing costs of necessities
Something that pretty much every consumer can attest to is the rising cost of necessities. According to a price tracker from CBS News, the price of food has increased 18.6% since January 2022. Apparel has risen 3.3%, and rent and home insurance cost 14.8% more.
Of course, prices are naturally going to increase over time along with inflation, but these statistics show a concerning trend. The things that people need to get through daily life are steadily increasing in price. Of course, life is going to feel unaffordable when someone has a hard time covering their grocery bill.
3. Childcare costs
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While having children has always just been the norm in society, it’s starting to feel more like a luxury to many. If someone can barely cover costs for themselves, how are they supposed to also be responsible for the needs of a child? A LendingTree study found that the average annual cost of raising a child in the U.S. is $29,419. That’s $297,674 for 18 years.
Having kids has never been a cheap endeavor, but now it can feel downright impossible. For one of those young adults from Tavernise’s article making $90,000 a year, raising a child would eat up almost a third of their annual income. Perhaps that’s why 30-year-old Stephen Vincent, who brings in a combined $150,000 with his partner, told Tavernise, “We live in the richest country in the history of human civilization, so why can’t I eat out twice a week and have kids?”
4. Class disparity
There’s no question that we’re living in a world where the rich just get richer. Reporting for USA Today, Daniel de Visé said that there are 800 billionaires in the U.S. who control 3.8% of the country’s wealth. Meanwhile, “the bottom half of American families control only 2.5%.” Similarly, the Economic Policy Institute reported that CEOs made 281 times as much as their employees in 2024.
Steve Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center, told de Visé, “Wealth inequality in our country is staggering and just growing worse … Those who have can call the shots, and those who don’t have to struggle to get by.” Even if someone is making decent money, the difference compared to the upper class is discouraging.
5. Unrealistic expectations
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Perhaps the most controversial reason that life might feel unaffordable for people who make decent money is the unrealistic expectations they hold. Keyana Fedrick, a department store manager, told Tavernise, “I’m 36, and I don’t have children yet. I should have a flipping life by now. I should be traveling. I should have a luxurious closet. But instead, all I have is a good credit score and a paid-off 2013 Nissan.”
The fact of the matter is, the average member of the middle class doesn’t have a passport full of stamps or a closet riddled with designer items. They never have. Dr. Emily Koochel, a financial wellness expert at eMoney Advisor, explained, “Research has shown that frequent exposure to upward comparisons on social media can lower self-esteem. People often compare themselves to curated portrayals of others’ success (e.g., vacations, new homes, lifestyle upgrades), all of which can distort their own perceptions and potentially contribute to money dysmorphia.”
It may look like everyone is doing well and someone is struggling to keep up with the Joneses, even with a decent salary, but there’s also a good chance that that person is just seeing the highlights of life that others want them to see. No one posts about the bills they can barely pay on Instagram. We all have to remember that we can’t expect to be living an upper-class lifestyle on a middle-class income.
It feels like hardly anyone is keeping their head above water financially nowadays. Even people who are making salaries that others could only dream of feel like life is unaffordable and unfair. Things like debt and the cost of living can skew people’s perspective, but we must also make sure we are living within our means and not expecting more.
Mary-Faith Martinez is a writer with a bachelor’s degree in English and Journalism who covers news, psychology, lifestyle, and human interest topics.
