How to make ends meet with a minimum wage job
A minimum wage is defined as the lowest hourly, daily or monthly wage that employers may legally pay to employees or workers. This type of wage was first enacted in Australia and New Zealand in the late 19th century. The minimum wage law has a controversial political standing within the United States.
The minimum wage today ranges from $5.15-$8.00 per hour. This varies greatly from state to state. There is a federally minimum wage but states are free to choose (at this point) what the minimum wage is for their state. Some states are higher than the federal minimum wage, some lower and a few are the same. There are argued benefits and drawbacks of the minimum wage but the stark reality of this type of wage is that most people find it extremely difficult to maintain a decent standard of living while working at a minimum wage job. If you have to try and support yourself there are a few things you can do to help the situation.
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- Housing-A minimum wage will probably prohibit you from being able to rent a place on your own. There are of course exceptions to the rule based on where you live. Look into subsidized housing and see if your income would qualify you to rent. If this type of housing is lacking in your area and you really want to live in an apartment realize you will probably have to take at least one roommate in order to make the rent. While it may lack the social quality you really desire consider living with family and saving money to help defray the costs of apartment renting.
- Food-By budgeting carefully you can stretch your food budget. Coupon clipping, shopping sales and choosing carefully will help save money here. Consider splitting large bulk food items with a trusted friend or roommate to help defray grocery costs. Studies show that cooking at home saves considerable money over eating out so develop both the cooking skills and the self discipline to eat at home and you can save considerable money.
- Health care- Another difficult reality of minimum wage jobs is that most are offered with no health benefits attached. If you find yourself in this situation look into whatever health programs are offered in your state for low income applicants. These types of programs are designed to help bridge the gap for those who do not have any health coverage. Fill out the paperwork carefully and abide by the regulations of your program and you may not have to go without any insurance coverage. If you take a prescription drug look at the large chain stores or club stores where prescriptions are now being offered at hugely discounted prices whether or not you have insurance to help cover the costs.
- Clothing- Those working minimum wage jobs generally cannot afford to have a large clothing budget. But this does not mean you have to go totally without. Consider shopping at thrift stores and consignment shops. By shopping carefully you may be able to pick up someone's unwanted treasure for a fraction of the retail price. There are several types of thrift stores now some even specializing in designer clothing. With a little patience and footwork you may have the best wardrobe around.
- Education- Since most minimum wage jobs are held by young adults the costs of schooling becomes a major concern. If you are working a minimum wage job and supporting yourself you may qualify for grants or no-payback loans to help defray the cost of gaining an education. Do not assume that you will not be able to attend school because of your current circumstances. Make an appointment with the financial counselor at any school you are interested in and discuss your options. You may find this the perfect way to improve your skills and no longer be working a minimum wage job.
