- If You’re Having Trouble Finding Extra Money on Minimum Wage
- Everyone has different amounts they want to earn
- 36 tips to help you leave Dubai rich
- Thriving on Minimum Wage | The Wealthy Accountant
I do wish you and your daughter luck, happiness, and good fortune as you make your way through life together. I think you are dangerously misleading people. It also depends on the cost of food where you live as well as housing costs, etc in that area.
But sometimes in areas where those costs are higher, minimum wage is higher as well. It may not be possible for everyone, but with diligence and creativity some can do it. So…basically…life is going to suck and one should just hope for a quick, painless death? That seems kind of depressing. At the same time, you could start a side hustle to make your finances better and maybe even get a better job.
We have lots of posts about ways to side hustle or work from home to make your life better. Living on minimum wage for one person is indeed doable. Most people are just too damn lazy to do what it takes. EVERY budget has room for cuts. A couple with both working minimum wage jobs should be doing OK. Stop complaining about your station in life and do something about it. Thank you for posting this and describing your experience. How polite and respectful your replies have been to comments that are not. Thank you! I know it is frustrating to try to make it on either minimum wage or very low wages.
With some creativity and carefully planning, it can be done for some people. If you already have pets when you are moving out of your family home, having to cover costs for pets, let alone a human child, would be ridiculously impossible and a joke on minimum wage. Life is great on paper or with a calculator. Thank you for your comments, though. Your email address will not be published.
How to Survive on Minimum Wage Some of the links included in this post are from our sponsors. Brad MaximizeYourMoney. May 24, at am. Laurie Blank says:. May 25, at am. John says:. May 24, at pm. Elizabeth says:. April 1, at pm. Steven says:. November 28, at pm. Deacon says:. November 29, at am. Tabitha says:.
January 6, at pm. I doubt the author ever lived like this. Denise says:. January 8, at pm. January 9, at am. Matthew says:. February 7, at pm. April 24, at pm. D says:. April 30, at pm. May 1, at am. Angie says:. May 11, at am. May 14, at am. While it may sound impossible, with a good paying side hustle you can set aside money and save. June 30, at pm. July 2, at am. Sisi says:.
July 6, at am. The solution to having a minimum wage job: get a second job. Dani says:.
- Increase your income.
- 5 Tips for Saving Money When You Have Low Income;
- Ask the Readers: How to Save Money While Making Minimum Wage?;
- The Candle People.
January 30, at pm. But not rental homes, because he doesn't want a second job, it's diversified small investments in a mix of properties through Fundrise. Worth a look if you're looking for a low dollar way to invest in real estate. Great points. I think investing at minimum wage is about priorities, and often is even about finding ways to big for more money. Some of them are as easy as raking leaves. Maybe that extra money is what you save while you live on the minimum wage job.
If You’re Having Trouble Finding Extra Money on Minimum Wage
Good points Robert! I think it would be difficult and might require some creative thinking, but I believe it could be done. Like Joe said, it would have to come down to priorities and someone having their head on right to see that it would benefit them in the long run. Sure the math works but you have to dive into the mentality of that college student from past experience.
As long as you stay within your means, I say party on! Of course you can. It start with just a few dollars, but it will increase as your pay increases. This is how you can get out of a poor situation. Even just investing a very small amount of money, like a few bucks, is better than nothing.
Because you committed, and put your best foot forward to at least make it important to prioritize investing. The recent implantation of the Affordable Healthcare Act has left part time employees like myself only a maximum of 25 hours to work in a week, but nobody ever get that many hours. Suggestions, advice and anything in between would be greatly appreciated. If you can find a second job that is fun, all the better.
I picked up odd jobs, too afternoon painting a church, etc. Often, I feel like I know what to do with my money should I ever get a job that pays better, but for now all I can do is hope to build up my emergency fund and pay as much on my student loans as possible. My advice to Andrew is to look into low income housing in your area.
I worked a job similar to this for a while once. Both my co-workers and myself believed the job to be more of a temporary arrangement until something better could be found. Within a few months I was given a position with more responsibility and more pay. I only spent a year with that employer, but I learned some valuable lessons there. Regardless of pay, you need to always try to outperform those around you.
Find out what your employer wants out of an employee and let them know you are willing to work very hard to be that person. You may be rewarded for it sooner than you think. Also, never turn down any overtime. When the budget is tight, there is no greater blessing than overtime. Eight bucks an hour magically turns into a twelve dollar an hour job with overtime.
I made plans with family and friends, but everyone understood that if I was given an oppurtunity to work overtime, I would take it. My family and friends always understood. I even made a habit of showing up to work thirty minutes early. Regardless of where you are, do your very best, be punctual, and go the extra mile.
These traits are magnified while working at a low wage job because so many others see it as just that, a low wage job, instead of looking at it as an oppurtunity to excel. Agree with Laura, excellent advice. I think it will make a difference in my search. Sometimes full grownups for whatever reason have minimum wage jobs. I hate him. Remember that you are in a job market, and the market will pay you what your work is worth in that market.
Once you have a foundation of economic stability you can go about figuring out ways to make more money, get promoted, look for new jobs, get training for other types of work, etc. That hidden overtime really helps! I was scheduled 40 full hours assuming I took all my breaks, so with those 14 minutes a day I got at least an hour and ten minutes a week at OT! That being said, I had a different job that had a real honest-to-goodness time clock, but it only punched by the quarter hour. Love this question! I also second, third, and fourth not having cable, etc.
Everyone has different amounts they want to earn
The library is an awesome resource for this. I would also look for some ways to make side money. Babysitting, tutoring, etc. It adds up faster than you might think it does.
This could also work as bartering in the right circumstance. Gifts were a major source of trouble for me when I was poor. I tried to keep spending down by making gifts, but the costs for supplies were higher than I expected. Fortunately I have a small and not very gift-centric family. Fortunately, like chacha1, I have a small family, and more fortunately, they were quite receptive to this as it spared them the aggravation of shopping. Another branch of the family always gathers together and the adults pick names and only buy presents for the children up to One tight year bought my dad a old used fish knife with a funny saying on the holder at a yard sale.
No one has ever said a word about it. I make hot cocoa baskets! It works out great, actually, because I can do all the shopping at once, which is necessary since xmas gift giving is miles away from where I live. I had good luck writing poems or even just copying attributed poems on nice paper or just writing a nice letter about how much the person means to me.
Truthfully, if any of my family members had not understood how broke I was and stopped talking to me, it probably would have been good riddance. I always had a couple people on my gift list where the gift felt required usually kids, and usually because I loved giving them gifts! Taxes are usually ones biggest expense, especially when you have already cut out everything possible. My partner and I have each filing as single earned more than that the last few years and gotten to claim it. Why would you need to make more money to qualify for a tax credit for low income earners?
36 tips to help you leave Dubai rich
I never qualified all the years I was a low earner. It was the only time I wish I made less money! So, he could still earn more and qualify if he puts a certain amount in his K. One other thing — you should budget and save for annual or semi-annual items — taxes excise on car, possibly , car insurance, clothing, heating, Christmas and vacation — or whatever else you anticipate for costs.
Pay the bill off in full at the end of the month. The delay between when you buy stuff and have to pay for it will provide you with capital to spend on stuff you need immediately. Plus spoons and forks and a coffee cup. If you drink coffee, get a drip cone so you can make your own. You can probably find a lot of this used at a thrift shop or garage sale. Find a place close to work and a grocery store so that you can walk. If that is impossible, get a bike. If you have to, use transit. If you are paying cash for groceries, budget an amount and put the cash for groceries in an envelope when you get paid.
Then take the envelope to pay for stuff at the grocery store. It will help keep you honest. That means any time you buy things not in your barebones budget you treat them as spending from savings. It will give you someplace to put your money that is safe, even from you. Find free entertainment. There are plenty of places you can find to meet people and to entertain yourself without spending money. Neither are coffee shops. You will save the cost of a computer and TV in addition to the service charges.
You can get free internet access at most libraries. Same with any furniture. Same with that bike. Its not cheap if you need to replace it in a couple months. Bars could be free depending on your friends. If it would not be ackward sp? If not, I would suggest volunteering to be DD so you can still hang out with friends without spending. Some bars also offer incentives to designated drivers, e. If you can find out where your friends want to go ahead of time, call and ask the establishment if they have such a policy.
Worst advice EVER. Fiddling with credit and walking a financial tightrope when you have no money of your own is asking to get into a world of manure. What you have after you borrow money is a rock around your neck and now you have to pay interest for the privilege. Not worth it.
Thriving on Minimum Wage | The Wealthy Accountant
Learn to save early so you never have to beg or borrow from anyone. The rest of the advice is pretty good, but this is downright dangerous, so I wanted to point it out. If you have any maintenance or landscaping skills, you might also try finding an apartment complex that could use them. You can get a rent credit that way, which can cut down on your housing costs tremendously.
I would also recommend that you keep track of every penny. Put that excess into savings. Also, when I was homeless in the post-DotCom bubble bust, I would estimate my budget for things like groceries and gas and pull that out in cash. Psychologically its much harder to pay for things when you are watching the cash flow out of your hands. If you hit the end of the week and have some dough left over, put it into a piggy bank. When you pay cash for something, take the change you get back and drop that into a jar or piggy bank.
Trust me, it adds up quickly. Then take that change and deposit it into a local savings account. I also second the recommendation that you get health insurance preferably with a low copay. I once lived in a county that offered subsidized doctors appointments and pharmaceuticals for people with low income issues. It was a lifesaver for many of my friends. This is one way to not feel deprived when living on so little income. Lastly, I would recommend that you do whatever you can to make sure you have at least a Bachelors degree educationally if you do not already. You can get condoms for free from Planned Parenthood I think not sure, I live in the UK where you can get free condoms from a whole bunch of places.
I can make cheap food taste better with sauces and seasoning. And sometimes I have skipped meals to save money- NO I do not recommend this to anyone, it is miserable and you will feel awful. Oh and get a good water bottle and some strong leakproof tupperware so you can take lunch and free tap water everywhere. This will save you a LOT of money.
Laser focus on the goal, though, will be required with each and every expense. Again, focus. As the previous posts stated, there are lots of ways to get free things. There is also a website, Mint. It allows you to save for a specific goal, earn some interest and invite friends and family to contribute, too.
On that sort of budget the single biggest piece of advice would be shared housing. If you can cut your rent down by having a roommate or living in a shared house it will help tremendously. In my experience, at least. Its the little things that get you. Many years ago when I was out of work I leaned a lot about this and now that I earn a lot of money I still follow the things I learned back then.
I never rent movies, I get them for free at the library. I rarely buy books, I use my library card for free. I walk as much as I can. I buy second hand especially at stores that benefit others. I buy quality items such as a good coat or shoes that will last me years. I pack my lunch. I only go out to eat occasionally and with friends so that it becomes a social thing which I plan for every month. And I always ask myself, do I need this or want it and if I want it will I still want it a year from now or will i end up giving it away? And finally, I keep my ownership of stuff to a minimum — have a yard sale from time to time and put the money into savings.
Or do occasional odd jobs and put that money into savings. And just as one does on a diet, have that piece of cheesecake every so often and really really enjoy it. So once I awhile buy something fun and enjoy the heck out of it! I would try to find a part time job on the weekends, and bank that pay as my savings. So your full time work to pay for your living, and your part time job to build savings. Once I had a sizeable fund of savings built, say 4 months or so living expenses, I would probably quit the second job.
Hopefully you would advance in your current position within a year or 2 and make more money doing that. With the Way2Save, you can choose to put away a dollar for every purchase you make, or a dollar every day of the month. And that money is still yours. If you really need it for bills, you just transfer it back to your checking account. I live just below poverty line I have kids so my situation is slightly different though and I have learned a few things.
Perspective can be everything. Where I live you see this all the time as I live in a remote place. People live a long time in their small homes which are cheaper to maintain and heat. My friends will feed my cats or water my plants if I am gone for the weekend saving me money there. Like someone mentioned above sometimes you can get promoted quickly in these workplaces that pay minimum wage and often closer to the top there are some benefits. In addition to all the great advice given above, I recommend not having a landline and instead having a Tracfone or other prepaid cell phone.
In the US, you can call without a plan as long as the phone is charged. I agree that one of the best things to do is to have as few recurring expenses as possible or keep them as minimal and cheap as you can. I had one magazine subscription that I cut. We are working on getting rid of our monthly phone bill to be replaced by something similar to the magic jack. We switched to less expensive internet etc. I knew we needed to be saving for a new vehicle but there was no room in the budget to do it. All of the money we make on the side goes into this targeted savings account.
They are savings incentive plans for people with low incomes who want to save — and you can often get a local nonprofit or the government to match your contribution much like an employer does with a k. I find it hard to believe people are suggesting someone on minimum wage buy health insurance. You are going to have to find free care, whether that is paid for by charity, government or by stiffing the hospital on the bill.
There are also many low-income medical and dental clinics where you pay as you go. I disagree. You might try a high deductible policy and use the free clinics etc. Having health insurance, even a high deductible plan can also qualify you for lower charges even if you have to pay them. You need to use limited resources on the most likely and if you can afford catastrophic health insurance, you are probably better off spending the money on a dental appointment.
The risk of death from getting really sick or in an accident, though small, does not outweigh the benefit of extra money for non-survival items. Agree with Chris, El Nerdo, and Matt. Health insurance is not optional, it is a necessity like food and shelter. With that said, there was nothing I could do short of marrying someone who had a group plan to get out of that situation. Thankfully things are better, but my point is, bankruptcy is not the solution in every situation. But if you go the second route, you still have to set aside some money every month to cover the costs of that deductible!
Still, better gambling on the emergency happening a year away than never, right? Free clinics have different policies for who they admit. Some are able to even bill Medicaid if you have Medicaid. If he has debt, he should work on paying it off. Eliminate any and all financial commitments possible. Save, save, save. Find cheap or free sources of entertainment. Find a hobby that brings a lot of joy to your life, and ignore the rest of the superfluous junk.
Donna Freedman, I believe, had an article about earning money doing online surveys. It would be a way to get some additional money to save or an occasional splurge. Definitely stay away from owning a car. Between gas, insurance, registration and maintenance, cars are a huge expense. Seek out free entertainment. If you live in a large enough town, it should be plentiful.
Use libraries for books and movies and potlucks for social gatherings. Make saving a priority, however small to start. You can add to it over time. As you mentioned, you will need to adjust your expenses to accommodate it. Take in a roommate and cut your expenses to make it happen. Make the rounds of thrift stores once a week or month, to find new deals. You can get decent cookware, spatulas, whisks and even bread makers for cheap. Linens, sheets and towels are exorbitantly priced in thrift stores for some reason at least in our area , so get some of these things elsewhere.
That included a full dinner set, silverware, measuring cups, other kitchen utensils, and a kitchen table.
- Can You Invest if You Make Minimum Wage?!
- Building wealth on minimum wage infographic - Business Insider;
- Bad Loyalty (The Trudy Wilson Mysteries Book 2).
A half pound of meat, a cup of veggies and a cup of rice, pasta or potatoes means real food, real cheap, with leftovers for lunch. These are Japanese style lunch containers. These are extraordinarily great for packing lunches, but some are very expensive, so you can do one of two things. Consider them an investment to keep from spending your money on fast food, or you can look them over, and find something similar at a yard sale, thrift store or dollar store. Consider your poverty an adventure. Low or high cost of living? Family or single? Maybe your option is high deductible, catastrophic coverage paired with a free clinic for preventative or common care.
Transportation: What are your needs versus what is available in your community? If you need a car, can you get by with a less expensive option and shop around for insurance? Everything else: find a balance between low cost and your ability to find contentment and health. If you want to save money, start saving money. Put a dollar per paycheck into a savings account and leave it. It may not seem like much but if you do it it will add up. I have an account with ING that automatically pulls a certain amount out of my bank account each month. Just a reminder — if you are living with your parents — remember they have expenses too and adding another human to the household will drive up their costs.
When we immigrated into this country, I remember my dad making very low wages. He would work 40 hours a week plus overtime.