Can You Live on the Living Wage?
Some terms you need to know
Living wage: a wage that is high enough to maintain a normal standard of living. This varies by location.
For example: In Jefferson County, Kentucky the living wage for 1 working adult and 1 child is $21.68 an hour.

Minimum wage: the lowest wage permitted by law or by a special agreement (Such as one with a labor union). The federal minimum wage rate is $7.25.

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1. Assume you make minimum wage. The rate for Kentucky is $7.25. Assuming you work 40 hours a week this mean you make $15,080 a year. Go to www.themint.org/teens/determine-your-budget.html and create a budget based on this salary. Did you have any money left over for the month? *
2. Look up the living wage for a single person living in your county. This information can be found at http://livingwage.mit.edu. Enter the amount below. *
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3. Multiply that hourly amount by 40 hours a week. Then multiply it by 52 weeks for the year. How much do you make a year? *
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4. Now go to http://www.themint.org/teens/determine-your-budget.html and create a budget using your living wage yearly salary. *
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5. Were you able to live at living wage rate? How much did you have left over for the month? *
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