Can You Live On $19 Dollars An Hour?
As the cost of living in America continues to rise, the minimum wage in many states has increased to keep up. With the current minimum wage set by many states at $19 an hour, some are asking if this wage is enough to truly make a living. After all, there’s rent, insurance, food, bills, and other expenses to consider. Can you really survive on such a measly income?
In this article, we will explore the answer to this question. We’ll consider the pros and cons of living on a $19 an hour wage, providing tips and strategies for making it work. We’ll also look at other ways to make more money and how to budget if you’re living on the $19 an hour wage.
Pros and Cons of Living on $19 An Hour
Let’s start out by looking at the pros and cons of living on $19 an hour.
Pros
The main pro of earning $19 an hour is that it’s far above the federal minimum wage. The current federal minimum wage is $7.25, so this wage of $19 is significantly higher. Plus, many states have minimum wage laws that require employers to pay workers more than the federal minimum wage. Having a wage that’s higher than the federal minimum wage means you’ll be able to save more money and have more spending power.
Another pro is that $19 an hour is enough to pay most of the bills. Your rent and food will be covered, and you may even have a bit of extra money left over.
Cons
The main con of living on $19 an hour is that it’s difficult to save any money, especially if you’re living in a large city. Rent is expensive, and you’ll need to pay for utilities, food, and transportation each month. And if you want to buy anything outside of these essentials, it’s likely not going to be possible.
Living on a budget can also be difficult. You’ll need to watch your spending carefully and be extra mindful of where your money is going.
Tips for Living on $19 an Hour
If you’re living on the $19 an hour wage, there are a few tips and strategies you can use to make it work.
- Be Mindful of Your Spending
When you’re living on a tight budget, it’s important to be mindful of where your money is going. Take the time to calculate your bills and necessities each month and be sure to stick to the budget you create.
- Utilize Free and Low-Cost Activities
When you’re living on a budget, it’s a smart idea to seek out free or low-cost activities. Take advantage of free events in your area, look for affordable entertainment, or find free options for transportation.
- Look for Other Sources of Income
If you want to make more money, look for other sources of income. This could mean taking on a side gig, freelance work, or a part-time job. Or, you could turn your hobbies into a money-making venture.
- Make a Budget
Creating a budget is a great way to stay on top of your finances and ensure you’re making the most of your money. When making a budget, list out your income and expenses and then figure out which areas you can cut back on.
- Find Ways to Cut Back
If you’re not comfortable with adding another job to your plate, then find other ways to cut back. Consider selling unused items, cutting back on entertainment expenses, or shopping around for cheaper options.
As we’ve discussed, living on $19 an hour is possible. With the right strategies, budgeting, and a mindset of mindfulness, you can make it work. And if you want to make more money, there are options for seeking out additional sources of income.
Ultimately, living on $19 an hour is doable if you’re willing to be mindful of your spending and utilize free and low-cost activities. It certainly won’t be easy, but with a bit of perseverance and dedication, it is possible.
