Another fact that needs consideration is taxes. In order to keep $15, you need to make $20 if you are at 25% federal tax rate. If you calculate state, city taxes, or if your federal rate is higher, you will need to make more. Your pay is usually quoted in before tax terms but your spending is after tax money. I always think about how much more I need to work to make up the dollars spent before spending hard earned after tax money.
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