How Does Minimum Wage Hurt Workers?

By | March 25, 2015

 

How Does Minimum Wage Hurt Workers ?


how minimum wage hurt workers

 

I mean Seriously ? ……

I cant believe such questions are still been asked today especially in the current global economic trends and after the 2008/9 recession that shook both US and UK economy so badly.

Have you looked around you lately ?

Minimum wage hurt workers in more ways than one and believe me when I say this because you do not need Google search or Wikipedia to find the answer.

It is right there in your face.

 

Why and how ?


Because at the end of this post, you will come to understand:-

1,  How minimum wage hurt workers today.

2, Why minimum wage will continue to hurt workers in years to come.

3, And how you can overcome living only on minimum wage from today.

 

What is Minimum Wage ?


what is minimum wage

National Minimum Wage according to Gov.UK  website for example “is the minimum pay per hour almost all workers are entitled to by law”.

Every country has their various rate of what constitutes minimum wage rate, what age of workers are entitled to it and how you can check if you have been paid accordingly.

 

How Does Minimum Wage Hurt Workers?


There are many ways in which minimum wage hurt workers today and these includes:

1, It Leads To Low Motivated employees

low motivation

Well for starters it leads to more mediocre employee because you will find it difficult to get supper superior employee if you pay your workers minimum wage rate.

These workers are people with the same huge amount of financial difficulties at home.

Knowing very well that tomorrow is going to be another dead end minimum wage job day in day out with out prospect of change will always be a mood killer to do more.

The most painful part today is that nothing changes for the minimum wage earner even when every other aspect of their job will continue to change.

 

 

2, Minimum Wage Earners Always Remain Deeper and Deeper Into Debt


deeper in debts

Don’t get me wrong !!

Because debt is debt and when it get to bad and doubtful debt then you are in serious trouble.

And you are going to need some serious help to get out of it.

Now what if I ask you a few question and you can be honest within this post because we all need help at one point or the other:-

  • Are you a minimum wage earner ?
  • Are you happy with your current job ?
  • Does your take home income equates your monthly out goings ?
  • Is your marginal propensity to save equals your marginal propensity to consume out of your consumable income ?
  • Where do you see yourself financially next year with your current job ?
  • Are you ahead of your debts ?
  • Are you happy with your level of monthly out goings ?
  • Do you want more out of your take home pay ?

The ugly truth is that there are no two ways about it.

It is what it is simple as that.

If you want more, then you are going to start thinking out side the box.

In fact you need to start thinking as if there are no box at all !

With minimum wage you will always find it difficult to meet up with the everyday price increase in commodities and high cost of living.

The rate at which these cost increases are far greater than the annual minimum wage increase of any economy you may find yourself in.

I am a living example and that is why I am writing this post, hoping to help low income earners explore options so they will not rely on minimum wage alone.

 

 

3, Minimum Wage Earner Always Find It Difficult To Save For Rainy Days


purse-522622__180

It is a known fact that with minimum wage job, you will always find it hard to save for rainy days.

We all knew that the purpose of working is to earn enough and be able to set aside something for retirement.

How many of us can testify to that with minimum wage job today ?

With minimum wage, you are constantly tied to a static and predictable wage that does not give room for savings.

This is because your wage will hardly change the effects of your increasing expenses and constant need to meet up with daily cost of living standard.

The employers on the other hand can not be totally blamed for not paying higher wage because the effects of such increase in payment may be attributed to a constant change in government policies as well as its effects on economic trends.

If this is so then why does the minimum wage earner bear most of the burden ?

Why should you have to strive day in day out just to stay barely above waters of high cost of living ?

Why should you limit yourself to just minimum wage when you have the same equal opportunity do more to support yourself and family ?

I will leave you with that thought to chew on ……..

 

 

4, Minimum Wage Will Never Be Enough


 

minimum wage is not enough

As our needs and wants will continue to rise, so will our desire to fulfil these needs and to be able to afford them.

The problems with minimum wage are that we will be unable to :-

  • Travel the world on minimum wage if this is among your list
  • Unable to afford the things we want always
  • Unable to expand our expenditures
  • Unable to borrow at a good rate
  • Unable to climb to the real-estate ladder
  • Unable to do things and buy the things we really want in life without worries of stepping deeper into debt
  • Unable to get out of debt
  • Unable to live out of our comfort zone

 

 

Why I Think Minimum Wage Will Continue To Hurt Workers In Years To Come


ongoing problem

Well believe it or not minimum wage payment is here to stay and will continue to be for unknown foreseeable time to come.

And I think for the following reasons, minimum wage will continue to hurt workers for years to come :-

 

1, Because most politicians will tell you that increasing the minimum wage will help alleviate the poor and the disadvantaged. While this may sound encouraging, research has proven that this does not force employers to pay a particular wage to every employee.

 

2, You will only here such promises to increase minimum wages during and only close to election time.

 

3, There is no such increased amount that will be enough because every inch of increase in minimum wage will be met with an increase in standard of living. Do the math.

 

4, Companies will continue to seek for more cost effective labour market just to stay sustainable and profitable. Look around your demography today and recollect how many well known companies that have moved their production abroad in search of cheap labour ?

 

5, The debate and argument regarding either to raise and not to raise minimum wage will continue to remain strong and will be an on going one for years to come. True or false ?

 

6, Most people in high level of government and various high positions who make these decisions and implement those policies that affects minimum wage payment does not really have the first hand grasp of  what minimum wage earners experience.

Why ?

Because they do not earn minimum wage.

 

7,  Structure of pay will continue to differ from one company to the other, especially the small businesses and the multinationals.

 

8, Inflation and interest rates will continue to play a vital role in any country’s  national debt and borrowing capacity. This in turn influences currency and country’s GDP as well as labour cost. I am sure I got you thinking how and why already ?

 

9, Why does politicians always remember their promises to increase minimum wage and improve standard of living only during or before election times ? I am sure you know the answer to that plus you already knew this is going to be an on going phenomenon.

 

10, Plus many more and please do feel free to include more if you got one in the comment box at the bottom.

 

 

How To Stay Above Minimum Wage From Today


solutions

 

Staying above the minimum wage will mean you have to get another job or continue to do extra hours of work.

But we both knew that this does not always turn out well and you will always  end up over stretched just to stay above the water.

I am not an expert in such matter and I am no guru in all thing magic button to make extra money fast but I believe in life experience and following what works.

 

The following are ways I believe you can make extra money quickly and hence support your family better.


These includes:-

1, Rent out your spare room and earn free income.

rent spare room

 

Check out Easyroommate, Gumtree and SpareRoom to advertise for free.

 

 

 

2, Make extra cash from your driveway

rent a space

If you live close to a city like London for example, you can post your postcode to sites like ParkatmyHouse you will be contacted by people with urgent need to park their car.

 

 

3, Review products for money.

review products

Companies like Ciao.co.uk for example will pay £3 for each review you write.

 

 

4, Get cash for your ink cartridge

by recycling it as well as your old gadgets

 

 

5, Get paid to party or

body shop

becomes a consultant to The Body Shop and earn up to £100 to sell special beauty products in people homes.

 

 

 

 

6, Make money from your creativity.

creativity

Sites like Folksy.com and  NotMassProduced.com are willing to accept your home made goods online. They attract a lot more customers than you do if you set up your own shop.

 

7, Become a voice over artist

voice over

 by subscribing with  Voices.com, upload a sample of your voice and quickly apply for voice over works on the side. You can be lucky to be head hunted due to your unique voice and that my friend is success, recordings, cash …..you name it.

 

ALSO…

 

There are huge opportunities out there to make extra money online if you know how to find an honest and reputable way.

 

I must emphasis that there are no such thing as quick magic formula or software to make 6 figures online. If it does exist we will all be billionaires by now wouldn’t you agree ?

With that said,

I will suggest you go for a programme that has potential of life time recurring income. That way you still keep your job while you earn handsomely and you can quit your job entirely if you so desire.

My #1 Top Ranked Program on this site happen to be a perfect and plus I am happy to recommend it because I am using it.

It is not a software or a formula or plugin of any kind.

It is a website forum of more than 306, 000 premium members with expert helps and growing daily, who are more than happy to help you start making money online from today.

The jaw dropping surprise is that you don’t have to pay anything to get started.

 

It Is Totally Free To Get Started

 

Click Below To Give It  Try ! And Then Come Here And Tell Me What You Think !


I will continue to explore more legitimate ways you can earn extra income to help and support yourself.

Do come back for more updates.

Do you have any other ideas that may help others ?

Please do share your thought on the below box.

 

If then I will suggest if you are fed up of minimum wage and need ways to earn extra income to support yourself and family ? CLICK HERE NOW

 

If you have any questions or comments please do so in the box provided below and I will get back to you immediately.

 

Also if you find this post useful, please do share the heck out of it for me so others can learn and get help as well.

 

-Richard



10 thoughts on “How Does Minimum Wage Hurt Workers?

  1. Ediina

    Well, Gates scored 1590 out of 1600 on his SATs and drppeod out of Harvard, which means he’s so brilliant AND a shrewd businessman that he didn’t need the degree from Harvard. He certainly could have completed it if he wanted to, but he had better ideas. So it depends on the type of business you want to start, and it also depends on how much backing you can get for it. If you’re going to build a business that designs operating systems, you’d better be really educated in computer science and math. Technical subjects like that require technical knowledge, which must be learned. Even Gates didn’t just hack into a TRS-80 one day and figure out how to write code out of the blue. If you’ve got the capital to HIRE people like that from the git go, then it’s a different story.But if you’re starting a business in something like agriculture or industry, for example, and you have knowledge of it, then no you don’t need higher education.I would get the multi-million dollar revenue dollar signs out of your eyes. Building a company from ground up to that point often takes decades. The secret to building a good business (beyond luck) is by first having a really good idea. What do you got that’s better than your competitor? How can you get people to buy your product or service? As a business founder, it’s your IDEA, and your passion for the idea, that are most important. You then have to decide how much you know about the subject, if you are willing to learn what is required if you have to, and whether or not you should create a partnership or hire employees that DO know. But that can be risky at first. You have to work with people you trust. And to gross multi-millions someday, you will definitely be a corporation that has quite a few people on the payroll. Was this answer helpful?

    Reply
    1. Richard U Post author

      Thanks Ediina,

      Well thought input and good to know you have a full grasp of how the system works.

      You are right.

      The whole point is that the minimum wage issue is a two way streak thing. One for the employers and one for the employees.

      Secondly the walls of university can never teach you what an average hard knock life experience in the field will teach you to succeed these days.

      Taken your Bill Gate example I am sure every one would agree.

      That said, it is left for us individuals to choose either to be tied down on minimum wage alone or go out of your comfort zone and start something new in support of your current minimum wage pay ?

      The opportunity provided by the internet is very large. The world of online business is like an octopus with 18 heads.

      With the right help and support you can create a website around your hobbies and interests and monetise as soon as you start having visitors and comments coming.

      You are not constrained to the life of minimum wage alone. Let your imagination go work and build yourself alternative recurring income for life using what you already do and know on daily basis.

      My number Top Ranked Programme here can help you get started and if you need any help along the way, feel free to come back here.

      Thanks again.

      Reply
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