Continuing the discussion from Why not raise the minimum wage with local ordinances? and The Nahployment ‘Crisis’:
This is something that has been in the back of my head for a while. (See linked topics.) What would be the living wage for me, a single man living in central Florida? That is, how much would I need to earn to cover my basic needs?
Well, I guess a good starting place is my current standard of living. Here’s a budget, based on what I would consider comfortable living alone with my current lifestyle, minus about $120/yr I spend on video games,
Details (click to show/hide)
annum month category ================================ 9000 750 rent 3000 250 food 2760 230 health insurance 600 50 maintenance 300 25 hygeine 240 20 health 240 20 dental --------------------------------- 16140 1345 necessities annum month category ============================== 2640 220 electricity 1440 120 telecom 660 55 water & sewage 540 45 mobile 360 30 natural gas 240 20 trash ------------------------------ 5880 490 utilities annum month category ============================== 3000 250 auto insurance 1800 150 gasoline 720 60 auto 480 40 auto maintenance ------------------------------ 6000 500 transportation
annum month
==============================
16140 1345 necessities
5880 490 utilities
6000 500 transportation
------------------------------
28020 2335 total expenses
In real life I don’t make quite that much. More like,
annum month category
===========================
29040 2420 gross wages
-5760 -480 taxes
---------------------------
23280 1940 income
Which is a net of -395/mo, -4740/yr. That surprised me! And partially inspired this topic.
(I cheat by living with family and using my parent’s health/auto insurance, which puts me into the black. But obviously that isn’t going to last forever.)
Having laid that out, what should be added or removed to arrive at a living wage?
I’m sure there are details I will need to provide. Let’s see…
The food line item is based on $8.00/day ($8*365=$2920), rounded up. This means eating in, leftovers, and shopping very thriftly.
The health insurance plan I chose for the $230/mo is the best one on the marketplace. I am lucky to not have any chronic health conditions (yet). My current standard of living is good health insurance, so I picked the silver plan, $0 deductible, $30 copay. This is after applying the premium credit for my income, of course. Roughly comparable to the plans we offer at my workplace, but slightly less expensive.
My work commute is about 9mi each way from the center of town. The county bus line runs from town to my workplace, among other places. All of the housing I was looking at was within 2mi of town or lies along that bus route. $750 can apparently fetch a low end 1 bed apartment, or a *really* crumby house. The bus fares are $1/trip, $3/day, or $30/mo. Aside from my workplace, pretty much everything of note is within walking distance of downtown or a bus stop.
The electricity bill I based on, as I wrote, my current lifestyle. I wish I had saved the scrap of paper I had used to add up the kwH. I assumed a water heater, HVAC, refridgerator, desktop computer, lights, washer, dryer. It's Florida so space heating isn't really necessary any time of year. The city charges $12.20 + $0.089879/kwh under 1000 + $0.111688/kwh over 1000, per month.
The water bill is based on an estimate from [this site](https://www.swfwmd.state.fl.us/conservation/water-use-calculator). With a daily 15 minute shower, 3 toilet flushes (low-flow), 10 minutes of running water, 30 minutes of handwashing, and one load of laundry per week, it says I may use 231 gallons per day / 6,468 gallons per month / 84,084 gallons per year. Rates are $9.63 + $1.874710/1000gal per month, plus $30.46 per month for wastewater and reuse.
The telecom item at $120/mo was, I think, based on offers I saw for low tier internet+phone bundles at $90/mo. I'm used to 100Mbps, which is faster than I need IMO. I added the extra $30 to account for all sorts of stupid fees.
The mobile item. I use my phone for calls, texts, alarms, and occasionally chess / 2048 / Wikipedia / Straight Dope. A Kyocera durable is probably the most appealing phone on the market, budget considerations aside, and would probably last me at least six years.
~Max