Quote:
Originally Posted by LaneSig
PM_Mama and AlphaFrog-
$23 times 40 = $920 for a week's pay.
$920 times 4 = $3680 for the month.
$3680 times 67% (which is the average take home pay after taxes, insurance contribution, etc.) = $2465 for a month
$2465 times 12 = $29580 for a year's take home pay.
$29580 to buy groceries, gas, rent (or home mortgage if lucky), utilities, etc. Most people would have trouble making due on that as a single person. Now, add in a family. Even if your spouse is making a 2nd income, it's still going to be tough.
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Even if your mortgage/rent was $1200/month (would be very middle class where I live), that still leaves you $1,200 for expenses. Can you live large on that? Obviously not, but you could live economically on that. Might mean no cable and no eating out. But no one owes you that stuff.
I know what I'm talking about, because my husband and I together don't make much more than $23/ hour since he had to take a huge cut in pay when the restaurant he was working for shut down. We luckily have a low mortgage payment, but we also put money in the savings account every month as well.