The Reality of What You Can Afford on Minimum Wage

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The federal minimum wage was established nearly eight decades ago in 1938, clocking in at a mere 25 cents per hour. These days, it sits at $7.25 per hour.

However, now that each state — and now cities — have their own minimum wage, the average national minimum wage of $8.32 per hour was used to calculate the following examples in order to provide more accuracy. This average national minimum wage results in a monthly salary of $1,442 and an annual salary of $17,306.

But whether it's Los Angeles or Louisiana, Miami or Montana, getting by on minimum wage is tough. Click through to see why it's hard to live on a small income.

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