I’ve been getting ready for a depression in this country , eliminated my credit card debt and fortunately don’t have a car payment . Now I’m working on stashing as much cash as I can , and only buying the minimum .
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That’s smart actually. I saw recently that most people are one paycheque away from losing their homes. It’s amazing how many people live paycheque to paycheque. My grandmother always told me to accumulate 3 months of living expenses. It took me 15 years to save, but I finally did it.
You do realize that the minimum wage (at the federal level) is *STILL* $7.25/hr, yes? It’s not just teenagers working those jobs. As more and more good jobs (not to mention cuts to ed funding and the meteoric rise to college tuition) has led to a lot of people being stuck in that situation.
I should add that there are many places (states or cities) within the U.S. where the minimum wage is much higher than $7.25, but $7.25 is the Federal minimum wage. States with no minimum wage of their own default to the federal.
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