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The Autobiography of Russell
Life from a different perspective
zimzat
zimzat
Cars don't pay for themselves
Gee, vehicles are so expensive by the time you make the payment, the insurance, and the gas.

Figuring a payment of $100 a month, $120 for gas, and $200 for minimum insurance, that's over $400 a month. The recommended insurance is $500 a month, which makes it over $700 a month.

hrs/wkgross-25% taxes
$5.15/hr (minimum wage)
40$824$618
60$1236$927
80$1648$1236
$7.50/hr
40$1200$900
60$1650$1237.50
$10/hr
40$1600$1200


Using the above table of figures, you'd have to work at least 60 hours a week at minimum wage to afford an apartment and a car, or 40 hours a week at 7.50, and that's only breaking even with minimum car insurance. With the recommended car insurance you'd have to work at least 80 hours a week at minimum wage, 60 at $7.50/hr, or 40 at $10/hr to break even with it and the apartment.

It almost pays not to have a car, except it's hard to get a job without a car.

Current Mood: tired tired
Current Music: "Larger Than Life" by Backstreet Boys

3 comments or Leave a comment
Comments
raist_ From: raist_ Date: September 7th, 2005 12:51 pm (UTC) (Link)
All I can say is, welcome to the real world.
zimzat From: zimzat Date: September 7th, 2005 03:56 pm (UTC) (Link)
*nods* I knew this. I was mostly making the post to make a point that you can't live off a minimum wage job without ... well, without pretty much turning life into work, barely living from paycheck to paycheck, and having very little room to do anything else (Not a very appealing existence).
raist_ From: raist_ Date: September 7th, 2005 04:09 pm (UTC) (Link)
Having done that for most of my existence, I agree. It's not very appealing. But sometimes it's necessary.

Keep in mind also that $10/hour is still pretty much below the poverty level for the most part. (I think the poverty level is $30k / year, but I can't remember for sure)
3 comments or Leave a comment