Gen Z surviving paycheck to paycheck with minimal spendings!
Boomers: "If you kids can&
#039;t live comfortably on $20 an hour, you have to be overspending."
We got to break this down very quickly to give people perspective into the Gen Z&
#039;s lives. If you make $20 an hour, that is $40,000 a year.
After taxes, that is $2,750. The average one-bedroom apartment and utility is going to run you $2,000. You cannot do that making $20 an hour, so you&
#039;re going to have to rent with a roommate for about $1,200, and that&
#039;s being conservative.
$500 a month for groceries, which is less than $150 a week. $300 for a student loan payment, which is below average. $150 for car insurance, $150 for gas, $100 for personal care, $50 for a cell phone is $2,750.
That is paycheck to paycheck, leaving you with nothing. Nothing for savings, investments, the big one, health insurance, because I&
#039;m assuming they&
#039;re under 26 years old, and zero fund. Now, if they were to make $30 an hour, that&
#039;s $60,000 a year.
