Sharing Daily Discoveries About Personal Finance And Business Topics

Is It Possible To Live On A Minimum Wage Budget

minimum wage budget living

I saw this picture shared in one my social media accounts today. As you can see, it’s a picture that outlines how at this day and age twenty dollars simply can’t buy much nowadays in terms of food. While I assume the notion is to describe everything such as food and housing cost, seeing those pictures of the groceries for examples makes me think it is possible.

Maybe I won’t have the popular the answer here, but it is possible to live on minimum wage. I think the question is more can you live a particular lifestyle with minimum wage? For example, I was talking to a person the other day where we were discussing about cell phone rates. I told him that I pay about forty dollars month and he mentioned that he pays about ninety dollars. Now his service technically has better quality than mine. But could he live on the same plan that I use? Yes. Would he want to? That is a different story.

Like the grocery example, even in a big city I can buy a ton for twenty dollars. Are you willing to give up things such as soda, alcohol or dining out? I know for myself I proved it was doable for food even with a handicapped circumstance. Making more money isn’t always the answer as I feel the important thing is recognizing what you can truly afford while adjusting your lifestyle to it.

There are of course special circumstances such as people that require special needs. From my personal observations though most people seem like they can perfectly live on a minimum wage budget if they really wanted to. It doesn’t necessarily mean you are “poor” to do this as well. I would actually find it smart if say a person lived on like a minimum wage budget lifestyle where at the same time they make like an executive salary. Because these people usually then invest the money they save to try and make more.

I some ways to me it’s like an essential part of training yourself to find resourceful solutions to your financial situation as well as opposed to always just relying on making more money to solve everything. If you can find ways to live with that little money just imagine how much better you will be with money when you have more. I’d almost be afraid of having too much money if I couldn’t find ways to live on a minimum budget.




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