• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

Show Your Minimum Wage Budget

Not sure what you're referring to. Just make a budget.
 
My budget in MS:

Housing: $250
Utilities: $250
Transportation: $200
Healthcare: $100
Loans: $0 (this would be the key...)
Food: $200 cash (plus food stamps..what is the max for stamps? $250? So could be at $450 a month for food which is more than doable)
Household: $75
Taxes: $50 (probably end up with rebate...minimum wage earners rarely end up paying taxes)

I think this budget is livable. And that is with only one income. If my wife were working (which she would be assuming we were both earning only minimum wage, we would definitely have a livable budget. The key to MS is that housing costs are very cheap. Usually what gets my employees into trouble (and they earn a good deal more than minimum wage) is debt. They make poor decisions (and are taken advantage of quite regularly) with regards to automobiles. I know we have stepped in several times and taken the used car dealerships to court over abusive loans and shady deals that set up the consumer (our employee) for failure. My father in law practices law, so we try to keep an eye out for our employees to make sure they aren't being taken advantage of.

I would imagine in states where cost of living is higher, that the minimum wage would be almost impossible to live on with one income. Very interesting link. Thanks for sharing PH.
 
YEah, low income housing. It is possible in my hometown (I know this because a buddy of mine owns a ton of low income rental houses. Ranging anywhere from $200 - $500 a month.)
 
jesus that's cheap. makes it a hell of a lot easier.
 
deacphan said:
jesus that's cheap. makes it a hell of a lot easier.
Click to expand...

Yeah...that was my point in the first post. Now the housing is crap (kitchen/living room/bedroom/1bath) but it has heat, air, and running water and keeps the rain out.
 
I just entered what we pretty much pay already and I'm over $70K in the hole per year. So the conclusion is one which most liberals like me already knew: minimum wage ain't shit. Glad I cracked some books instead of some pipes.
 
I'd be curious to see what's the median age of a person who makes minimum wage. If you worked two 25 hour minimum wage jobs a week, that's 50 hours at 7.25 *4 weeks a month = $1,450.00. Assuming an effective rate of tax of 10%, you're clearing $1,300.00 per month.

Assume $300.00 per month for a 1BR apt.
$200.00 for HH utilities/cell.
$200.00 for Health Insurance.
$250.00 for food.
$150.00 for transportation.
$100.00 for incidentals
$50.00 for short term savings
$50.00 for long term savings

That's a lot of effort for it to be that tight, and you can't spend your January EITC refund in the preceding October when your radiator blows out. I certainly made minimum wage working high school and part-time stuff in college. If it was a full-time job and I was single with no dependents, I'd drive a beater car, work a retail-type job 9-5, wait tables at night and rake leaves or cut grass on the weekend. I bet I could make $2000.00/$2,500.00 a month doing that. Get a roommate to share housing costs. Obviously, kids and debt sink this math.

On the other hand, I think I may have the cost of housing solved for you.

First, make $100,000.00 per year.
Second, apply for public housing aid.
Third, get it.
 
Wrangor said:
My budget in MS:

Housing: $250
Utilities: $250
Transportation: $200
Healthcare: $100
Loans: $0 (this would be the key...)
Food: $200 cash (plus food stamps..what is the max for stamps? $250? So could be at $450 a month for food which is more than doable)
Household: $75
Taxes: $50 (probably end up with rebate...minimum wage earners rarely end up paying taxes)

I think this budget is livable. And that is with only one income. If my wife were working (which she would be assuming we were both earning only minimum wage, we would definitely have a livable budget. The key to MS is that housing costs are very cheap. Usually what gets my employees into trouble (and they earn a good deal more than minimum wage) is debt. They make poor decisions (and are taken advantage of quite regularly) with regards to automobiles. I know we have stepped in several times and taken the used car dealerships to court over abusive loans and shady deals that set up the consumer (our employee) for failure. My father in law practices law, so we try to keep an eye out for our employees to make sure they aren't being taken advantage of.

I would imagine in states where cost of living is higher, that the minimum wage would be almost impossible to live on with one income. Very interesting link. Thanks for sharing PH.
Click to expand...

but dude you want to cut food stamps from people. There was a whole thread about…….nevermind.
 
jhmd2000 said:
I'd be curious to see what's the median age of a person who makes minimum wage. If you worked two 25 hour minimum wage jobs a week, that's 50 hours at 7.25 *4 weeks a month = $1,450.00. Assuming an effective rate of tax of 10%, you're clearing $1,300.00 per month.

Assume $300.00 per month for a 1BR apt.
$200.00 for HH utilities/cell.
$200.00 for Health Insurance.
$250.00 for food.
$150.00 for transportation.
$100.00 for incidentals
$50.00 for short term savings
$50.00 for long term savings

That's a lot of effort for it to be that tight, and you can't spend your January EITC refund in the preceding October when your radiator blows out. I certainly made minimum wage working high school and part-time stuff in college. If it was a full-time job and I was single with no dependents, I'd drive a beater car, work a retail-type job 9-5, wait tables at night and rake leaves or cut grass on the weekend. I bet I could make $2000.00/$2,500.00 a month doing that. Get a roommate to share housing costs. Obviously, kids and debt sink this math.

On the other hand, I think I may have the cost of housing solved for you.

First, make $100,000.00 per year.
Second, apply for public housing aid.
Third, get it.
Click to expand...

golly, its like a rocket ship right into the middle class.
 
this is like a game for idiots, "hey look, being poor is easy!" :rulz:
 
I feel like there should be a separate category for lotto tickets.
 
If I was on minimum wage, we'd probably move in with my inlaws: no "housing" payment and my utilities would be cut in half!

Or I could just quit my job and go on welfare: a free apartment, satellite TV with every possible channel (even the Mexican ones), and a smart phone for every person in the family!
 
You must log in or register to reply here.
Back
Top