What if you were a single parent with a child… You work full time for $25.00 hr. You bring home roughly $2,000 .00 per paycheck (bi-weekly) before taxes…
Your bills:
$1, 200. 00 / rent, one bedroom, not fancy.
$130 .00 / electrical
$375 .00 / car payment, high mileage, 11-year-old Altima.
$165 .00 / car insurance
So, let’s do the math:
You bring home about
$3,300.00 a month after taxes & your bills average about $1,800.00 (give or take).
You’re making it, but barely… This doesn’t even include groceries, internet, cable, cell phone, etc. so add about $1,200 for all of those (at a minimum!).
(nor does it include child tax credit, or child support).
Now, it’s a really cold December and you get a power bill for $600 .00 because you’ve had to be late on it… How do you pay that? To put it simply, you don’t. Because you can’t!