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Post by Grimace on Jun 8, 2011 17:57:44 GMT -5
Average Joe 18-24 years of age, making $12 per hour hoping to keep getting 40 hours per week. After taxes per month $1580
Month Studio apartment.....$500 Groceries................$475 (if he eats a lot of ramen noodles) Gas/elec/water........$110 (if he's careful) Auto gas................$260 15 gal tank, 15mpg (beater car) Auto Ins.................$170 Cell phone..............$ 40 (plant robo call) Internet..................$20 (saves gas, pays bills online) Total expenses........................$1575 Total income...........................$1580 If he saves that $5 a week extra, he can buy a new $16,000 car in as little as 61 years.
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Post by TonyV on Jun 16, 2011 23:30:40 GMT -5
Great Post!
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Post by ScottR@KTP on Jun 17, 2011 10:00:08 GMT -5
But, instead they will amass over $25,000 in credit card debt during those 61 years.
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