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wealthier classGOBankingRates
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64% Informative
Many middle-class people spend mindlessly on stuff that looks impressive but only ends up draining their savings and keeping them from growing their wealth.
One of the most damaging habits is spending more than you earn, said Christopher William , a CPA finance expert and founder of Balanced News Summary .
The main thing here is to steer clear of massive debts while amplifying your professional skills.
A significant barrier for the middle class in their journey toward wealth accumulation is lifestyle inflation.
As individuals earn more, they tend to increase their spending proportionally, or even excessively, which can stymie their ability to save and invest effectively.
The “Keeping up with the Joneses ” mentality is particularly detrimental.
VR Score
56
Informative language
53
Neutral language
24
Article tone
informal
Language
English
Language complexity
49
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
18
Source diversity
7
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