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How to Live a good life under $1750 a month and Save $$$$!!

Can you survive and save $$$ within minimum wage?

person holding fan of US dollars banknote photo – Free Money Image on Unsplash 

This post is not for the top 1%, heck it’s not even for the top 50%, this post is specifically for those who try to live the american life earning $7.5 per hour and anyone who tries to cut down expenses and save $$$.  This post will cover in detail a few areas and contains follow up posts. 

First let’s calculate your income: 

So, let’s start with your income, a typical american earns about $1500 a month with a single job, with another gig and it improves by $1000. Though retailers like target, Amazon pay twice the minimum wage, For simplicity we will take the below calculation.

Working Hours per Day10
Earnings per hour7.5
Work days in a month~24
Total 24*10*7.5= ~$1800 (without taxes) 
Example income

The total pre tax salary comes to around 1800 which is lesser than what Jeff Bezos makes in a second.. IN A SECOND. But lets not go into the capitalism and the top 1% problem, for now we will leave it up to Bernie.

At $7.5 , you will not save what it requires to run a year in retirement even when you keep earning for the rest of your life. With current salary, it roughly translates to $21,600 per year which is way below the median US salary of ~$31000. But if you can plan well enough you can live within $21600 and anything that comes above can be used for savings(in case if you earn above $7.5) . 


I tried listing the major expenditure areas where most of your income goes .

Some Stuff that can help you save money (supports this site)

Before you can dive in, this post is only for 

  1. Singles who works on Low wage (insurance covered)
  2. Those who have no financial commitments like Student Loan (will address this in another article) etc 
  3. Just got out of college and no other jobs apart from Low wage..
  4. Starts working on a low wage job due to Covid-19 job loss.

Ok, so, You are single and fits either of the above said parameters and below is how you should be spending your salary and IF you can do it, then we can optimize it further.

If you are married, or has a mortgage, dont worry, i will cover you in next posts..  

Food $140
Car + Insurance$200
Misc/Credit card bill$200
Proposed Expenses

Savings : $50

Looks sweet and easy isn’t it? Well this might be the toughest thing that you might have done yet!  some of these like cellular bill at $30 may look ridiculous, but i will share as much as details as possible on how to achieve this (i have achieved this) . Also, you can use the trail programs available everywhere and make use of it , without spending a PENNY, like one below (affiliate link – supports this site)

Now let’s delve into the details on how to achieve this! 

Finding the right place

Majority of your expenses would be incurred by rent unless you stay with your parents. A typical minimum wage worker works for a retail company like Walmart or Dollar Tree ,which most probably is located in a city or suburb. A typical american works 44 hours a week,so it’s understandable that you might want to live near by, but usually those are mostly expensive , i.e greater than the median rent. So the trick here is to find a nearby suburb.

The main thing is to set the expectations , what are the things that I *really* need from a home. The basic need goes like

  1. 1 Bedroom 
  2. 1 Bath
  3. Car parking
  4. Central Heating/AC
  5. Carpet / hardwood
  6. Washer/Dryer (optional) 

So it’s safe to assume that you need all these and let’s be honest, a single shouldn’t need more than a single bedroom. The other alternative is for friends to stay together by sharing a 3bhk home, but it comes with its own disadvantages.  So we have the list of needs ready, the next is to find the apartment? NOPE.. 

The next is to find the right suburb to live in, and there are three main things that you need to consider

  1. Crime rate
  2. Travelling time
  3. Amenities available..

Crime rate determines the livability of the environment so be stern about this. Travelling time should be a variable , rather than a constant, so anywhere between 45 mins to 1 hour should be fine 1 way.  Amenities include, the grocery stores, gyms, theaters, eat outs etc. You can visit big name stores, banks on weekends.

OK, now you have found the almost perfect suburb to live in, but the rent is exceeding the $800 figure, what to do? Well we have few links provided  below for you to find the next right suburb. Now this may not be as easy as it seems, however you need to spend hours of time to find the right place and even then in places like California or NY this may not be possible. I will try to address few of these in upcoming posts..

Some Stuff that can help you save money (supports this site)

Links for references..

 In next set of posts we will go through each of your expenditure line items and discuss in details. Meanwhile, you can reach out to me for any queries.

To be continued…..

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