Time to Make a Budget

To calculate what it would be like to live on minimum wage, input estimates of how much you will need to meet monthly payments for rent, food, phone, etc.

Rent Food Phone Utilities Car Payment Car Insurance Misc

Minimum Wage: $ per hour

  


Your budget totals:


If you were earning a wage of ($7.25/hour), you would have this amount left at the end of the month:


This means you could save this amount in the course of one year:




Questions to think about:
What is your quality of life like?
How many roommates do you have?
What is your diet like?
What do you do for leisure activities?
What would happen if you became ill? Do you have health insurance?
Is the American dream possible for people working at minimum wage? Is it likely?

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