A TikTok video going viral walks through why it's difficult to live on less than $25 an hour (on average) in this economy
The key takeaway of his TikTok video: When you add up all the essentials like rent, groceries, and utilities, that averages out to $3,285.37 per month.
Split that up into four 40-hour workweeks, and the math shows you need to make at least $20 per hour to cover. Let me repeat that: Making $20 an hour would be just enough to cover that average cost of rent plus groceries and utilities in the US. Notice anything missing from that? For one thing, you haven’t paid taxes yet. By Halbert’s math, your monthly wages would need to reach $25 an hour to both cover taxes and hit that $3,285 target. And, even then, there’sYou haven’t done things like eat out at a restaurant or paid for a car repair. “You either have to kill yourself working way, way too many hours, or you’ve gotta figure out a way to make a ton of money,” Halbert says.
The polarizing nature of the TikTok video that we mentioned above comes down to how people think this problem should be handled. Halbert himself, for example, thinks cutting down your costs is an imperfect solution and won’t get you there — because making those cuts is a one-time thing, whereas costs keep going up. Real solutions discussed include finding a way to raise your income ; investing; buying only used cars; and living with a roommate who can help lessen the burden of high rent.
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