Value of Money

I never liked technical terminology such as socioeconomic diversity vs. socioeconomic status, but I thought the points that were raised really made sense. A person's financial situation is not typically stable. You may start out making minimum wage and then move up to a higher position, or on the flip side you could lose your job altogether. The discussion on cost of living is an important thing to consider as well. A person with a high SES in one place might not be considered so well off if they move to a different city.
Living in general costs more than it did a generation or two ago. I was just talking to one of my friends who was excited about graduating and getting a job in the future. She even commented that she couldn't believe that people could have financial problems while making $20,000 a year. I don't blame her for being excited, because it's a lot more than any of us are making now, but after we talked about the cost of living it isn't surprising that money can be used up so quickly. Money is used up even faster once a person has to support a family with children.
As always, content and process come into play when dealing with financial issues in a family. The same issues can cause problems whether a family is wealthy or poor. A family needs to find a balance between the ways they utilize their money. It's important so save enough money so you can have some control over your life, but it's not terrible to spend a little for enjoyment. A couple needs to discuss how they plan to manage their money and what they will do if finances become a problem.