this post was submitted on 02 Apr 2024
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[–] KillerTofu 22 points 10 months ago (3 children)
[–] themeatbridge 9 points 10 months ago* (last edited 10 months ago)

Looks like these numbers came from a report by SmartAsset, which took it's numbers from the MIT Living Wage Calculator. Here's a link to their methodology:

https://livingwage.mit.edu/pages/methodology

Relevant definitions:

At its simplest, a living wage is what one full-time worker must earn on an hourly basis to help cover the cost of their family’s minimum basic needs where they live while still being self-sufficient.

There are eight basic needs – food, childcare, health care, housing, transportation, civic engagement, broadband, and other necessities – that make up the cost components of the living wage, with an additional cost associated with income and payroll taxes.

EDIT: It looks like the SmartAsset report used their 50/30/20 rule to estimate their "comfortable" living wage. 50% needs, 30% wants, and 20% paying down debts. The MIT calculator bundles some needs and wants together, so it appears that SmartAsset teased out the expenses they categorize as "needs," e.g., food, housing, and transportation, and then they doubled it.

[–] SteefLem 4 points 10 months ago (1 children)

You can eat and sleep inside (something)

[–] KillerTofu 4 points 10 months ago (1 children)

As long as that thing isn’t a car!

[–] SteefLem 2 points 10 months ago

Well…. Thats extra.