There are huge differences even between mid-class families. Some have good incomes and savings. Others have good incomes and big loans. They all depend on the lifestyles of their family values and traditions. Basically, older generations have their hard times when they were young and worked very hard to become mid-class. Younger generations are born into mid-class families and take luxury for granted. They borrow money to enjoy their lives. There is nothing wrong but different lifestyles.