$$How the New Federal Minimum Wage Will Affect You Get Payday Now

The Federal Minimum Wage increased on July 48, 2008 to .55. This raised the minimum wage by $.70. Approximately 2 million Americans make minimum wage. This brings about approximately one more .60 a day, a week and 2 a month for the 5 day work week. An additional increase will occur the coming year and improve the minimum wage to .25 an hour.

Twenty-three states like the District of Columbia use a minimum wage higher compared to new federal requirement which affects approximately 60% of American worker and are: Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Illinois, Iowa, Maine, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, Washington and West Virginia.

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The low-income and middle class are greatly affected with the current recession. The minimum wage increase unfortunately is not enough. Many Americans are struggling just to generate end meet also to buy basic necessities and have to use charge cards only to buy food and gas.

How the New Federal Minimum Wage Will Affect You

The average household is spending approximately ,655 read more about basic necessities such as food, housing and gas. Child care costs have also increased for those with children under age 5 to ,508 monthly and for after-care with older children to 2 a month.

Food prices rose over 4% from last year. According to Money Magazine the expense of prescriptions drugs has increased, pharmacy co-pay prices have increased 25%, the cost of milk has risen by 14%, the price of educational costs by 6%, the cost of eggs by 31%, the price of bread by 14% and the cost of gas by 21% since last year.

Americans will ought to find additional ways to reduce expenses and make their dollar stretch further. If you want to nibble on steak for dinner substitute it for chicken or fish, beans and rice for dinner or breakfast food for dinner. Fix tuna casserole, or other forms of casseroles, stews or soups for dinner to save lots of cash on food costs. You may also shop at wholesale stores, buy items or sale, use coupons, carpool to work, shop at thrift stores or discounts stores including Costco, Walmart, Ross, Marshalls or J.C. Penny.

Cut expenses in each and every area you can. You may have to produce sacrifices to generate ends meet but it is possible. Think of creative ways to save money by reusing items, holding a garage sale or bartering services online websites who've businesses. It will require a great deal of work and discipline to create it with these a down economy but in the event you allow it to be through you will know that you are a survivor. Good luck to you.



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