Topic Low and Middle Income Saving

Topic:Low and Middle Income Saving


Goodmorning. My name is ……….. I have extensive experience in theelectrical and electronic industry. Through my time in the industry,I have been very interested in the area of information systems. I amexcited by the challenges along with the innovative technologies thatI became accustomed to when working in company systems administrationduring my internship. Furthermore, I enjoyed accessing and applyingthe training I attained in systems management while working with myprevious company in the board test department. This inspired moreinterest in me and I started focusing my endeavors on attaining moretraining in information systems.

Inall my endeavors, I try my best to pay attention to detail andachievement. I work hard and cooperatively in a team environment andhave previously been the leader of teams on various occasions andprojects. Additionally, I have continued to develop communicationskills, which have continued to be very critical in my previous workexperiences throughout my academic life. I have been working with thelatest technology in the courses that I have gone through. Forinstance, I played a critical part in designing a Visual Basicapplication for database interface for some of the programs usedwithin my school.

Ininstances where I have got the privilege to be assigned a project, Ihave the aptitude to ensure that I see it through to completion inthe best possible way. I am determined and prepared to makeexceptional and considerable contributions in the subsequent phase ofmy career. I must also mention that I am very open to any advice thatyou may have for me in terms of what I may need to do so that Ibecome successful in this field.

Topic:Low and Middle Income Saving

Savingchallenges among middle and low income earners

Themiddle class has various definitions based on the country underconsiderations, but economists and scientists define based on keyindicators such as income, education, and occupation (Zeman,2010).Zeman(2010)argues that based on the income levels, the middle class would becalculated around the range of median income in a specific country,for example, taking a percentage of the median from 75% to 125%. InChina, for example, the middle household income was placed at $3,800and $15,000 annually and low-income earners below this level in theyear 2006.

Themiddle and low-income earners are characterized by a rise of incomeinequality where wealth is held by a few affluent individuals whoconstitute a very small percentage. In America, the middle-classconsumers are living from paycheck to paycheck and hence face savingchallenges (Petillo,2005).Based on their current wages, they prefer to work overtime toincrease their pay and hence have an extra cent to save. A further 29percent of Americans expect an income increased in the next years asthose with homes believe that their investments have increased invalue. An astonishing bigger percentage of middle-income earnersrequire borrowing or disposing of an asset to cover their expenses(Gornick&amp Jäntii, 2013).

Lackof saving can be attributed to insufficient disposable income amongthe low-income earners. The middle-income earners tend to haveinappropriate priorities as they acquire liabilities in the form of aluxurious life, such as cars while tend to take away more of theirincome. According to Petillo(2005),acquisition of assets for middle-income earners would be in the formof rental and business building that would bring in a car that can beused for luxury. The low-income earners would need to invest ineducation and professional skills to improve their status.


Gornick,J. &amp Jäntii, M. (2013). Income Inequality. Stanford,Calif.: Stanford University Press.

Petillo,P. (2005). Building wealth in a paycheck-to-paycheck world.New York, N.Y.: McGraw-


Zeman,K. (2010). The high education/low income paradox. Ottawa:Statistics Can