Middle-income earners in the U.S. are struggling as the wealth gap widens. Pew research shows only 51% of Americans are considered middle class in 2023, down from 61% in 1971. Ayesha, making $60,000 in Dallas, faces high living costs and little left for savings with $10,000 in credit card debt.

Wages for middle-income earners have stagnated, rising only 6% between 1979 and 2013. Economic Policy Institute data shows hourly wages flat or declining for this group, while highest earners saw a 41% increase. Ayesha barely qualifies as middle class and faces financial struggles as a single income household.

A survey finds 65% of middle-class Americans feel financially strained with little hope for improvement. Rising inflation and high living costs contribute to this pessimism. Foreclosure rates are surging, and housing prices remain out of reach for many households, leading to a bleak financial outlook for many.

To improve financial stability, building an emergency fund and paying down debt are crucial steps. Tracking spending for 30 days can reveal areas to cut back. Setting up auto deposits for savings can ensure consistent saving. Taking control of finances is key to overcoming financial challenges and uncertainties.

Read more at Yahoo Finance: I’m a middle-class Texan doing everything right, but one emergency away from financial crisis. How do I build stability?