Tuesday, February 15, 2005

The "New Affluent"

Oh, look — a fresh new survey commissioned by Visa and the suits who brought you the Visa Signature card!

"...Affluent Consumers Embrace Middle Class Values"

There's nothing I like more than a good survey. How 'bout you?

In this case, our pals at Fabrizio, McLaughlin, and Associates surveyed 800 adults with annual household incomes of $125,000 or higher, plus an equal size sample of adults that demographically mirror the nation. What they found is that the so-called "New Affluent" — those folks aged 35-54 with household income of at least $125,000 — supposedly "...clip coupons more than other Americans, report embarrassment in being identified with wealth and status, and are more concerned about passing along honesty and integrity to their children than money or status."

With "tastes a lot more mid-scale than their wallets," these apparent freaks of financial nature are "ultra-vigilant about spending wisely."

I'd love to see the survey data itself, and not just Visa's rendition of it, but apparently that's all we'll get. What sticks out to me? Well, the earnings guidelines, mostly. Is $125k a great household income in my part of the country? Hell yes. Is it a great salary in NYC or LA? Don't think so. Shouldn't a survey's methodology take this discrepancy into account? I'd say that $125k qualifies as "New Affluent" in OKC ... but falls far short of it in Manhattan.

I'd love to hear others' views on this survey, which seems somewhat along the lines of the work done for Millionaire Next Door.

— Posted by Michael @ 10:30 PM

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Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
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