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Surviving on Minimum Wage

Surviving on Minimum Wage. Tatyana Butler Algebra 2 project. D&B Ventures ll LLC Apartments. Address : 57 Sumner St. Hartford Ct, 06106 Phone # : 188-367-0411 Rent : $600 monthly. Marshalls. Address : 1130 Silas Deane Highway, Wethersfield, CT 06109 Job #: (860)563-2887.

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Surviving on Minimum Wage

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  1. Surviving on Minimum Wage Tatyana Butler Algebra 2 project

  2. D&B Ventures ll LLC Apartments • Address : 57 Sumner St. Hartford Ct, 06106 • Phone # : 188-367-0411 • Rent : $600 monthly.

  3. Marshalls • Address : 1130 Silas Deane Highway, Wethersfield, CT 06109 • Job #: (860)563-2887

  4. Gross monthly income 8.25(40)=330.00 330.00(52)=17,160.00 17,160.00/12=$1,430.00 The gross monthly income is $1,430.00.

  5. deductions FT: 8700*.10=870 17,160-8700=8460 870+8460=2139/12=$178.25 ST:10,000*0.03=300 17,160-10,000=7,160x.05=358 300+358=658/12=$54.83 SS: 17,160*0.042=720.72/12=$60.06 MC: 17,160*0.0145=248.82/12=$20.74 HI: $43.00

  6. Net Monthly Income Gross monthly income – monthly deductions • $1,430.00-$356.88 • The net monthly income is $1,073.12

  7. Monthly Expenses • Rent : $600/monthly • Utilities included • Food : $100/monthly • Personal Hygiene : $50.00/monthly • Phone bill : $50.00/monthly • Xtra : $5.99/monthly • Transportation: $50/monthly • Total of monthly expenses = $855.99 • Net income – monthly expenses = $217.13

  8. Month #1 • Monthly expenses : $855.99 • Net monthly income-monthly expenses=$217.13 • Monthly Balance : $217.13 YTD Savings : $217.13

  9. Month #2 • Monthly expenses : $855.99 • Farberware 18 pc. Cookware set : $55.00 http://www.target.com/p/t-fal-simply-clean-total-15-piece-charcoal-non-stick-cook-set/-/A-12112791?ref=tgt_adv_XSG10001&AFID=Google_PLA_df&LNM=%7C12112791&CPNG=Kitchen&kpid=12112791&LID=PA&ci_src=17588969&ci_sku=12112791 • Duo Quadro 16-pc. Dinnerware : $29.00 • Threshold Silver Melio 20pc : $20.79 • Total of things brought : $188.79 • Net monthly income- monthly expenses=$217.13 YTD Savings : $28.34

  10. Month #3 • Monthly expenses : $855.99 • Net income – monthly expenses=$217.13 • Ralph Lauren Bedding, Classic King Mattress Pad : $140.00 • Monthly Balance : $217.13 YTD Savings : $105.37

  11. Month #4 • Monthly expenses = 855.99 • Net income – monthly expenses=$217.13 • Monthly Balance : $217.13 YTD Savings : $322.50

  12. Month #5 • Monthly expenses = 855.99 • Net income – monthly expenses=$217.13 • Monthly Balance : $217.13 YTD Savings : $539.63

  13. Month #6 • Monthly expenses = 855.99 • Net income – monthly expenses=$217.13 • Monthly Balance : $217.13 YTD Savings : $756.76

  14. Month #7 ( Happy Birthday to ME ) • Monthly expenses = 855.99 • 3’s “ Fire Red “ 2013 = 109.99 • Net income – monthly expenses=$217.13 • Monthly Balance : $107.14 YTD Savings : $863.90

  15. Month #8 • Monthly expenses = 855.99 • Net income – monthly expenses=$217.13 • Money Balance : $217.13 YTD Savings : $1,081.03

  16. Month #9 • Monthly expenses = 855.99 • Net income – monthly expenses=$217.13 • Monthly Balance : $217.13 YTD Savings : $1,298.16

  17. Month #10 • Monthly expenses = 855.99 • Net income – monthly expenses=217.13 • Monthly Balance : $217.13 • YTD Savings : $1,515.29

  18. Month #11 • Monthly expenses = 855.99 • Net income – monthly expenses=217.13 • Monthly Savings : $217.13 • YTD Savings : $1,732.42

  19. Month #12 • Monthly expenses = 855.99 • Net income – monthly expenses=217.13 • Michael Kors Chain-Link Padlock Bracelet, Golden : $115.00 • Nautica Hooded Jacket : $119.99 • Money Balance : $217.13 YTD Savings : $1,497.43

  20. What I learned • I learned that living on minimum wage is very difficult but if you budget your money you can do it, I also learned how to do taxes and how to budget my money wisely..

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