Then & Now: How Far Does a Paycheck Get You?

Then and Now JUST HOW FAR DOES A PAYCHECK GET YOU? According to a TNS Omnibus survey by NetCredit, 1 in 2 Americans are living paycheck to paycheck. Was it always this hard to cover everyday expenses? Take a look back at the cost of living in the past versus today. Minimum Wage Rate THEN AND NOW? $6 $5 $4 12.90 13.10 13.35 13,80 4.25 4.75 15.15 5.85 6,55A 7.25 2.10 2.30 2.65 1.25 .40 1.60 2.00 $2 0.7 1,00 $1.15 1938 1939 1945 1950 1956 1961 1963 1967 1968 1974 1975 1976 1978 1979 1980 1981 1990 1991 1996 1997 2007 2008 2009 -1943 -1949 -1955 -1960 -1962 -1966 -1973 -1977 -1989 -1995 -2006 -2012 $9.043 WASHINGTON STATE WITH THE HIGHEST MINIMUM $5.153 WAGE WYOMING, GEORGIA STATES WITH THE LOWEST MINIMUM WAGE $10.294 SANTA FE, NM CITY WITH THE HIGHEST MINIMUM WAGE IN THE UNITED STATES, Federal Jncome Tax THROUGH THE YEARS2 12% 10.09% 10% 8.75% 8.05% 7.73% 8% 8.71% 6% 6.19% 5.36% 4% 2.15% 2% 1.2% 0.95% 1920 1930 1940 1970 1950 1960 1980 1990 2000 2010 Changing Payment Methods CASH CHECK - 1785 - CONGRESS ADOPTS THE DOLLAR AS THE MONEY UNIT OF THE UNITED STATES. DIRECT DEPOŠIT - 1970s - Late 1800s – THE CHECK BECOMES THE DEFAULT MODE OF PAYMENT IN THE U.S. DIRECT DEPOSIT BEGINS WHEN A GROUP OF CALIFORNIA BANKS ORGANIZE A WIRE TRANSFER SYSTEM IN RESPONSE TO THE EXPONENTIAL GROWTH OF CHECKS NEEDING TO BE PROCESSED. How do Americans Spend their paycheck? A LOOK BACK OVER 3 DECADÉS AVERAGE ANNUAL EXPENDITURES AVERAGE ANNUAL EXPENDITURES $37,291 AVERAGE ANNUAL EXPENDITURES $46,288 | In order prom top to boltom $27,867 $50,000 $775 1351 MISCELLANEOUS 1,051 115 1634 TOBACCO PRODUCTS AND SMOKING SUPPLIES $2,572 40,000 1750 1308 $3,313 EDUCATION O READING $648 141 485 *8,293 1,953 PERSONAL CARE O PRODUCTS AND SERVICES $2,182 $30,000 - *860 1276 $1,740 ENTERTAINMENT 17,633 $447 $3,727 163 s399 HEALTH CARE 1,472 $1,554 1,743 TRANSPORTATION $20,000 12,767 15,151 O APPAREL $1,735 $1,990 $16,803 UTULITIES, FUELS, AND OTHER SERVICES $13,011 $20,000 HOUSING 19,252 ALCOHOLIC BEVERAGES 1349 *6,458 297 15,321 FOOD $4,271 2011 2001 1991 Did You Know? <$26,364 50% OF U.S. WORKERS MAKE LESS THAN $26,364 PER YEAR THE U.S. TAX CODE IS 10 TIMES LONGER THAN THE BIBLE" ABOUT 2.2 MILLION AMERICANS OVERPAY ON THEIR TAXES EACH YEAR" THERE ARE MORE TAX ACCOUNTANTS THAN SOLDIERS IN THE U.S." 7 Tips for Stretching your Paycheck Make Your Bun Coppee YOU COULD ŠAVE $250 A YEAR BY MÄŘING YOUR OWN COFFEE INSTEAD OF BUYING A SINGLE CUP OF $2 COFFEE ONCE A DAY - AND THAT'S JUST IF YOU'RE DRINKING IT DURING THE WORK WEEK. Buy in Bulk STAPLE ITEMS SUCH AS CEREAL, PASTA AND OTHER NON-PERISHABLES ARE OFTEN OFFERED AT LOWER PRICES WHEN YOU BUY THEM IN BULK. SO SPENDA LITTLE EXTRA ONE TIME TO SAVE YOU MONEY DOWN THE LINE. 3. Buy Generic MOST GROCERY AND DRUG STORES CARRY GENERIC PRODUCTS THAT ARE OF EQUAL QUALITY TO THEIR NAME BRAND COUNTERPARTS - JUST AT A SIGNIFICANTLY LOWER PRICE! Say Bye to Bottled Water EMBRĂCE THĚ TAP. THERE'S A SIMPLE AND CHEAP ALTERNATIVE TO BOTTLED WATER: BUY A REUSABLE WATER BOTTLE AND REFILL IT. Ditch Cable WITH ONLINE STREAMING THROUGH MAJOR BROADCAST AND CABLE NETWORKS YOU CAN WATCH THOUSANDS OF MOVIES AND TV SHOWS FOR FREE. 6. Cat In IT'S NO ŠECRET THAT PREPARING YOUR OWN FOOD CAN BE A LOT LESS EXPENSIVE THAN EATING OUT. SO BROWN BAG YOUR LUNCH INSTEAD OF PAYING FOR IT EVERYDAY. Use the Library THE LIBRARY IS NO LONGER JUST FOR BOOKS. YOU CAN ALSO RENT NEWLY RELEASED DVDS AND MAGAZINES FOR FREE BY SIMPLY VISITING YOUR LOCAL LIBRARY. NetCredit" A More Personal Loan Sources "TNS OMNIBUS STUDY BY NETCREDIT." NETCREDIT. N.P. SEPT. 2012. WEB. SEPT. 2012 www.NETCREDIT.COM. WAGE AND HOUR DIVISION (WHD) - MINIMUM WAGE." UNITED STATES DEPARTMENT OF LABOR. N.P, N.D. WEB.6 DEC. 2012. <HTTP://www.DOLGOV/WHD/MINWAGE/CHART.HTME UMERAPPJMYL. PABC NEWS. "STATES WITH HIGHEST, LOWEST MINIMUM WAGES ABCNEWS.COM. N.P, 14 MAY 2012. WEB. 6 DEC. 2012. <HTTP://ABCNEWS.GO.COM/BUSINESS/STATES-HIGHEST- LOWEST-MINIMUM-WAGES/STORY?ID=16330751a.UMERZJPJMYL>. "SANTA FE, NM., TO HAVE NATION'S HIGHEST MINIMUM WAGE." REUTERS.COM. N.P. 27 JAN. 2012. WEB. 6 DEC. 2012. <HTTP://www.REUTERS.COM/ARTICLE/2012/01/27/US- MINIMUM-WAGE-SANTA-FE-IDUSTREBO024K20120127>. "FEDERAL INCOME TAXES UNITED STATES 1910-2010." FEDERAL STATE LOCAL GOVERNMENT REVENUE IN UNITED STATES FOR 2013. N.P, N.D. WEB. 6 DEC. 2012. CHTTP://www.uUSGOVERNMENTREVENUE.COM/REVENUE_CHART_1910_2010USP_XXSILIO1IMCN_TF12F FEDERAL_INCOME TAXES#VIEW>. "THE HISTORY OF U.S. CURRENCY." NEWMONEY.GOV. N.P. N.D. WEB. 6 DEC. 2012. <HTTP://www.NEWMONEY.GOV/CURRENCY/HISTORY.HTM>. "ECONOMIC REVIEW." FEDERAL RESERVE BANK OF ATLANTA. N.P, N.D. WEB. 6 DEC. 2012. <www.FRBATLANTA.ORG/FILELEGACYDOCS/EROBNO4_QUINNROBERDS.PDF>. WHAT IS AN ACH DIRECT DEPOSIT?." WISEGEEK. N.P. N.D. WEB. 6 DEC. 2012. CHTTP://www.WISEGEEK.COM/WHAT-IS-AN-ACH-DIRECT-DEPOSIT.HTM>, "CE EXPENDITURE TABLES." U.S. BUREAU OF LABOR STATISTICS. N.P, N.D. WEB. 6 DEC. 2012. <HTTP://www.BLS.GOV/CEX/CSXSTND.HTM#1991>. "CBS NEWS. "INCOMES FALL FOR ALL BUT WEALTHIEST AMERICANS." CBS NEWS. NP, 21 OCT, 201m. WEB. 6 DEC. 2012. <HTTP://www.CBSNEWS.COM/8301-201162- 20123659/INCOMES-FALL-FOR-ALL-BUT-WEALTHIEST-AMERICANS/> "CRUSADE TO FIX TAX CODE GAINS STEAM." NPR: NATONAL PUBLIC RADIO. N.P. 9 JULY 2011. WEB. 6 DEC. 2012. <HTTP://WwW.NPRORG/2011/07/09/137729769/CRUSADE-TO-FIX- TAX-CODE-GAINS-STEAM aMILLIONS IN TAXES OVERPAID, MILLIONS IN TAXES UNCOLLECTED." CONSUMERISM COMMENTARY N.P. N.D. WEB, 6 DEC. 2012. CHTTP://www.CONSUMERISMCOMMENTARY.COM/MILLIONS-IN-TAXES-OVERPAID-MILLIONS-IN-TAXES-UNCOLLECTED/>. SMALL BUSINESS TAX TALK: TIPS & TRIVIA." INTERNATIONAL INSTITUTE OF NEW ENGLAND. N.P. 1 MAR. 2012. WEB. 6 DEC. 2012. CHTTP://INEUS/2012/03/SMALL-BUSINESS-TAX- TALK-TIPS-TRIVIA/>