minwage Flashcards
What are the 3 rules that Alex and Morgan must live by for the next 30 days?
1.Work a minimum wage job.
- Start with cash equal to one weeks pay at a minimum wage job.
- Freeze their credit cards and bank accounts.
How much is their apartment security deposit?
$325
Their financial goal/budget is to make at least how much money by the end of the month?
$1,000
In what year was the minimum wage law established?
1938
The cost of living is increasing across the United States. Congress has not approved an increase in the minimum wage law because they think it will be counter effective; decreasing jobs. However, they have given themselves a cost of living increase by how much money?
$27,000
How much money (net pay) does Morgan earn after working 11 hours?
$45.26
On day 4, Morgan and Alex discover that their apartment is infested with what?
Ants
Morgan and Alex are lucky enough to find a church free store where they get a variety of free items. What did they get?
Warm clothes
Furniture
Dishes
Are Morgan and Alex on budget?
NO
Morgan realizes they will not be able to make their monthly financial goals. What does he decide to do?
Get a second job to increase his income.
Morgan’s niece and nephew come to stay with them for the weekend so they can see what it’s like to live on minimum wage and support children. How much money do they spend on the children?
More than $20.
Why couldn’t Morgan and Alex take the bus?
Buses stopped running 3 hours ago.
Can you live on your own working a job for minimum wage and maintain your desired quality of life/standard of living?
No
Morgan and Alex are over their budget. Why?
Their expenses exceeded their income.
