daz28 wrote:
What's wrong with a minimum wage job?? For some it's the only job they can get, so for others to turn their noses up at it is wrong, imho.
I'm not turning up my nose at a minimum wage job. Minimum wage ISN'T ENOUGH TO LIVE ON.
Lets say I lose my job. I immediately take the FIRST minimum wage job I can find at $7.25 an hour. That's $290 a week. Unemployment brings me up to $400, so $20,800 for the year. Take away 15% for taxes, and I'm left with $17,600.
Time to pay my mortgage!! That's about $9400 for the year, so now I'm down to $8280. I don't have a car payment since it's paid off, but let's hope that it doesn't break.
Let's pay some utilities. I'd drop my cell phone, which would cost me around $200 to get out of my contract, but save me from a $100 a month payment. I'd get a home phone though so I can be reached for job searches, but I'd get the cheap plan at $15 a month. I'd also cancel my satellite TV. I normally would keep internet, but let's cancel it and use the public library instead. Electric bill should go down pretty good with no TV or computer time, so that's about $50 a month or so right there. (The neighbors are going to complain a bit that my pool is getting smelly because the pump isn't running, but that's ok.) The city still wants that water and sewer bill paid. There's $120 a quarter. Gas bill has to get paid too. Hope we don't have a cold winter, but I'm glad I have a new furnace. There's about $80 a month averaged out.
All that? $2420. So we're down to $5860 for the year.
Need to keep that car insured though. I can drop the extra coverage since it's paid off. There's about $600 for the year. Student loans still come due. There's another $1680.
I'll use my savings to pay minimum payments on my two credit cards so my credit doesn't take a crap. As well all know, people with bad credit are bad employees nowadays!!
Wouldn't want to lose a job because of it.
I'll have to forgo my COBRA coverage though. $400 a month is a LOT to spend on my budget. I hope I don't get sick!!
$3580 left for the year. $298.33 per month. $68.84 per week.
Gas, food, prescriptions (when I can afford them without medical coverage), pet care (I'm giving up a lot, but I'm not giving up my pets.), all of that on under $300 a month. It's pretty tough, but I can probably do it. I just hope nothing breaks on my car, or I don't get sick.
But wait... my unemployment benefits just ran out!! I just lost $5720!! Not only do I have no money for food or gas, I have no money to pay some of my bills!! I'm going to have to take a second job just to make ends meet!!
I'm lucky. Could you imagine what would happen if I had a wife and child to support?
Good thing I live in America, the Land of Opportunity.