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																																			Abstract Middle-class Americans maintain a structurally unequal relationship with the country’s largest banks. This asymmetry stems from persistent financial literacy gaps, the complexity of modern banking products, behavioral design that nudges consumers into costlier outcomes, and the scale advantages enjoyed by megabanks. Although regulators intervene episodically—most visibly in cases like Wells Fargo’s fake accounts scandal […]
													
																																			Introduction Middle-class voters are the backbone of the American electorate. Their votes decide elections, and their voices shape national policy. In the 2020 presidential election, for example, middle-class suburban voters played a critical role in swinging key battleground states, underscoring their influence on electoral outcomes. Yet politicians often speak about the middle class in vague, […]
													
																																			The lingering shadows of the Gilded Age stretch into the present, casting a long silhouette over America’s economic landscape. Families like the Waltons, the Mars clan, and the Cargill-MacMillans stand as pillars of enduring wealth, their fortunes built over decades and, in some cases, centuries. These dynasties have accumulated vast resources and mastered the art […]
													
																																			If you’ve been waiting for a sign to make big moves with your finances, this is it. The Federal Reserve just made its first interest rate cut since 2020, slashing the federal funds rate by a full half percentage point. This is no small step—it’s a loud and clear signal that the era of “cheap […]
													
																																			You’re not alone if you’ve noticed your savings dwindling or are finding it more challenging to set aside money. The U.S. personal savings rate has plummeted in recent months, reaching a low of 2.9% as of July 2024, a stark contrast to the pandemic peak of nearly 35% in April 2020. This decline is driven […]
													
																																					
												
																									
												
																									
												
																									
												
																									If you think American banks charge too many fees, you’re right — and you’re not imagining it. Compared to much of the developed world, the United States is the outlier when it comes to high bank fees, aggressive overdraft practices,...
By Article Posted by Staff Contributor
The illusion (why “free points” aren’t free) Rewards feel like free money. In reality, red tape, devaluations, and “earn-more-to-save-more” nudges push you to overspend for perks that move under your feet. In 2024 the CFPB flagged four recurring pain points—hidden...
By Article Posted by Staff Contributor
The give-and-take (how premium cards actually work) Premium cards are a trade: issuers “give” perks (lounges, credits, partners), and you “give back” via the annual fee and your spending. When the cost of giving perks rises—lounge contracts, new platforms, richer...
By Article Posted by Staff Contributor
The short answer Premium perks got expensive (lounges, partner reimbursements, richer credits), the “perk arms race” escalated, inflation raised every input cost, and enough cardholders happily pay for status and convenience to make higher annual fees stick. Result: headline prices...
By Article Posted by Staff Contributor
											
											
											Reality Check If you’re the first in your family to go to college, you don’t just pick a major—you pick a financing model. And that choice...
By Article Posted by Staff Contributor
Reality Check You shouldn’t need a translator to pay for college. Yet for too many middle-class families, the FAFSA feels like a maze with moving walls—new...
By Article Posted by Staff Contributor
Reality Check You’re looking at your budget and your chest gets tight. Rent, groceries that cost more than last year, childcare, car insurance. And now those...
By Article Posted by Staff Contributor
Reality Check Your paycheck stops; your life doesn’t. It’s Day 31 of the shutdown. Rent is due today, the daycare draft hits tomorrow, and you’re staring...
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The Plain‑English Take There was a time when a steady paycheck, a pension, and a gold watch weren’t a fantasy. They were the deal. If you...
By FMC Editorial Team
Most middle-class households aren’t “bad with money.” They’re paying a quiet tax in fixed costs and frictions—housing, healthcare, childcare, and high-APR debt—that eat the raise before...
By Article Posted by Staff Contributor
Why this matters (more than your will) A once-a-year habit that keeps your intentions aligned with your paperwork—and your family out of avoidable messes. For a...
By Article Posted by Staff Contributor
Reality Check You don’t need another lecture. You need a plan that works in the middle of real life—when the rent is due, the car needs...
By Article Posted by Staff Contributor
You’ve got a will for the house and the car. Good. But what about the stuff that actually runs your life—email, bank logins, bill-pay portals, cloud...
By Article Posted by Staff Contributor
You can feed a full house without making your card issuer fat and happy. The trick isn’t starving the table—it’s starving the waste. Why the Table...
By Article Posted by Staff Contributor
Reality Check If you’re the first in your family to go to college, you don’t...
Reality Check You shouldn’t need a translator to pay for college. Yet for too many...
Reality Check You’re looking at your budget and your chest gets tight. Rent, groceries that...