Low Wage Living - Episode 8 - Month 1

We've got a game plan for the finances for the long term, the problem now comes into month one. You've washed up on the shores of society, making minimum wage. We have a budget and we have some wiggle room, now it's time to focus on the start. Just like any race the start can make or break you.

So far the budget is a grand total of 800 bucks and we've committed 400 to housing, 160 to food and 0 to transportation our Wiggle Room is currently sitting at $160.

1. Shelter 30%  50% of our budget - $400

2. Food 20% - $160

3. Transportation 20% 0- $0

4. Phone 10% - $80

Now you'll notice that I'm missing transportation, if you were stranded on a desert island with only a knife would you have a car? No, you wouldn't. So part of the reason we are spending more on housing is to get close to where we work. Alternatively crashing on someone's couch and lowering your housing budget would allow for a car payment. Realize that we are targeting a 5,000 dollar car at the highest. Personally I would aim to live close to work and get a bike, if that breaks down I can most likely walk home.

The first month we want to get a job but we might have to get our two main tools first. Credit Card, Cell Phone.  These can be a bit of a catch 22 and by the time you read this blog you probably already have both. If you don't your probably going to have to go to a bank in person and sit there and get the credit, then go get a phone. After you have a phone it becomes a lot easier the next time you need to deal with credit cards.

For the first month aim for clothes from good will, they accept a credit card so we can defer until we get paid. Solid colors, focused on work appropriate attire. I'm not attracting a mate at this point we are in survival mode, I can get 5 reasonable outfits for around 50 bucks. Probably another 50 bucks to pick up anything that was not available at the goodwill.  Start out at goodwill than move to full priced stores. Also remember you can and should haggle a bit. These stores got the stuff for free and typically will work with you, if not try a faith based operation. Remember the question 'is that the best you can do?' or 'Is that price firm?' I like those as they aren't confrontational and all your doing is asking. You might not get their absolute bottom price but you probably will be coming back there again so no reason to alienate them either.

Sleeping arrangements 10 dollar sleeping bag from Walmart, 20 dollar pillow - because I have priorities. We will want to upgrade this latter but month one we just need to make it through. If I was splurging somewhere I'd be darn tempted to do it here to get a good nights rest. The purple mattress has payment plans and 0 interest over 6 months. Depending on my credit this is the option I'd be tempted to take.  However as I might need to move around a bit at the start the sleeping bag fits in a backpack. I can ride a bike with a backpack. Moving a mattress would require a car.

The last 20 bucks would be spent on toiletries and tp and a pot to cook rice and beans.  Nothing fancy this month.