• The average person making minimum wage earns about $1,100 per month after taxes. Using this amount, give me a realistic budget of your expenditures for each category. You have to stick to this amountyou cannot consider using credit cards, loans, or any outside help from parents, friends, or anyone else. Additionally, on the homepage of Canvas I have posted a copy of the USDA's most current food plans. This fact sheets lays out how much a person would need to spend (on average) each month on food to reach the recommended nutritional requirements. Please use this to estimate your food budget (i.e you cannot say that you would only spend 7 dollars on food each month by eating ramen noodles for every meal). Use the categories from Part 1 to make your budget again using $1,100 for the month, listing it out again as before.

Food: $xxx (whole dollar amounts!)

Shelter: $xxx

Clothing: $xxx

Utilities: $xxx

Entertainment: $xxx

Transportation: $xxx

Medical costs: $xxx

Cell Phone: $xxx

Other: $xxx

Using the budget exercise as support for your answer, tell me how your life is limited if you are living on minimum wage or in poverty. For example, what kinds of things do you have to give up? Does priorities change? What are some risks that you run living in poverty or on minimum wage? 2 full pages minimum

Or

If you already live on minimum wage or in poverty: Using the budget exercise as support for your answer, tell me how your life is limited if you are living on minimum wage or in poverty. Also, what kinds of things could you do if you had more economic resources? How would your lifestyle change? How would your priorities change

Answer rating: 100% (QA)

Food 300 Shelter 400 Clothing 50 Utilities 100 Entertainment 50 Transportation 100 Medical costs 50 Cell Phone 50 Other 100 Using the budget exercise as support for your answer living on minimum wage ... View the full answer