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#792346 - 11/11/12 09:54 PM
Re: Nickel and Dimed - Your thoughts?
[Re: Sandra Investing/HFinance]
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Joined: Jul 2012
Posts: 1,963
Lori-Dreams
BellaOnline Editor
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BellaOnline Editor
Chipmunk

Joined: Jul 2012
Posts: 1,963
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What a great thread, Sandra. When I was younger and wanting to move out of my parents' home, I would calculate my (meager) earnings from a full-time minimum wage job and my future expenses. It always demoralized me to learn that I couldn't cover the bare basics. Housing took the biggest bite, even with roommates.
On minimum wage I couldn't do it. After I got out of college, I was fortunate enough to land a nice job so I could afford my own place.
Today minimum wage is a lot higher than when I was younger, but when you factor in the higher cost of living, I guess it's the same. People have to be super resourceful and frugal to make it on minimum wage today. And of course, where you live matters a lot.
Share a studio or flat with others who don't mind sleeping on the sofa. Eat less. Give up a car for transportation. Wear charity store clothing. Skip holidays and gift-giving.
It's all okay if you're single but when you have kids to raise, it's a lot of deprivation. It gives the kids low self-esteem and a poverty consciousness.
As for the saving to invest, it's a matter of priority. But it's hard to see even a little bit of cash sit in a bank when you're hungry.
Last edited by Lori-Dreams; 11/11/12 09:54 PM.
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#794143 - 11/26/12 03:28 AM
Re: Nickel and Dimed - Your thoughts?
[Re: Sandra Investing/HFinance]
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Joined: Aug 2010
Posts: 753
AKLisa- Knitting Editor
BellaOnline Editor
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BellaOnline Editor
Gecko

Joined: Aug 2010
Posts: 753
Fairbanks, Alaska
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I never actually read the book, but I remember VERY well an author interview I heard on NPR shortly after the books release. One of the things I really took home from it was feeling like I had been validated in a lot of my observations about all of the lower paying jobs I was qualified to get at the time. Low pay usually means no benefits, no paid time off, etc. This means an even lower wage and quality of life for those who work in low paying jobs as compared to higher wage jobs. Currently, I work in education as a paraprofessional - I get a good amount of time off (not paid) and some decent benefits. I have gotten myself somewhat out of the dilemma the book poses. Still, if you average my pay over the course of one year and take out for mandatory deductions, I make less than minimum wage. My job works great with my family, but could never be held by a single parent. I simply do not get paid enough. I think that as a society we need to look at the value of some of these low paying jobs - do we really want the people preparing our food or cleaning our homes feeling so stressed and overworked? In Native Alaskan Inupiaq culture, the person who cooks is held in very high regard. If someone was washing and sorting my dishes and underwear, I would want them to know they are appreciated. I don't know how we would change this as a society. The best thing any individual can do is look for the good paying jobs with benefits - it is less work and stress than low paying jobs. Personally, I am re-evaluating where to take my career next. My current job is NOT a place to stay for my full career. Whether I switch to another field or become certified as an educator, I stand to at least double my bottom line on my pay. Oh, and of course, I pay the same for my gas, groceries, rent, etc. as someone who is certified and gets paid twice as much.
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Melatonin
by Nancy Roussy. Sleep Disorders 04/20/18 10:25 PM
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