by Dr. Theresa M. Kelly

Created on: July 29, 2008

Introduction: This article includes information regarding steps towards living a blissful and happy life.

1. Financial Stability - Middle of the Road

Maintaining a middle class to upper class status is important in the journey to a blissful life. The middle and upper classes have opportunities to avoid issues that otherwise arise in lower class households.

Income

The middle class today are considered those who have a single earned income of $40,000 to $100,000 per year in the United States, though these numbers fluctuate based on different studies and statistics. Having a little more money then what you need to live a comfortable simple life is as essential as knowing whether you are living inside or outside of your financial means. Even the rich can be broke if their greed outweighs their earnings. Keeping a fine balance between how much you earn and how much you obtain will eliminate many issues in life.

Savings and Investments

Financial stability is not obtainable unless you have a respectable amount of savings and investments. Most associate the middle class with home ownership. While owning your own home does open then door for more issues, such as costly home improvements, putting your earnings into an investment like home ownership brings you far closer to financial freedom then renting your home. On average experts suggest saving 10% or more of your income for retirement while still having a comfortable amount in savings for emergencies and unforeseen costs that may arise. Problems solving and budgeting are also vital in creating a stable financial future.

College Education

Over the course of a lifetime, a graduate of a two-years college earn about $275,000 more than someone with only a high school diploma. For someone with a four-year degree this number almost doubles to around $1,000,000 more in lifetime earnings. The greater earning potential you have the greater likelihood you will be able to own, save and invest.

Assets

Financial security is vastly influenced by the reserves you set aside for hard times. While this is more of an addition to the criterion for middle class status, it does help financial stabilize your life. Taking into consideration today's raising cost of college, uncertain labor market and threats to the traditional retirement security, assets are a crucial component of financial stability.

Limited Debt

The increase of credit card debt in the US is growing at alarming rates. In just the past decade credit card debt for the average American

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