Tom Wood
A woman who earns around £80,000 each year reckons she was actually better off in real terms when she was on minimum wage.
The woman, a TikTok user called Sam, took to the social media platform to lament the cost of just about everything, and to express her frustration with how the economy has taken a turn for the worse in recent years.
She argues that much of her substantial wage is eaten up each month by the price of simply existing.
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If she thinks it's bad, imagine what it must be like for everyone who isn't earning £80k.
In her original video, which has been viewed more than 105,000 times, the Canadian said: “The cost of living in 2023 is so bad that I’m pretty sure I was actually better off financially when I was making minimum wage in 2012 versus me making almost 100,000 dollars today.”
It’s a bold claim, let’s see if she can back up those figures.
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The British Columbia resident continued: “In 2012, I lived with my roommate in a two bedroom apartment and our rent was $700, so we paid $350 each.
“I paid maybe $100-$150 for groceries.
“Our utilities were maybe $100 a month for everything, and my take home pay making minimum wage was probably $1300-1400 dollars a month.
“After all my expenses and necessities I had so much money left over.”
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Now, let’s take a look at what her finances look like here in 2023.
It’s no real spoiler to tell you that she thinks they're much worse.
Sam went on: “Now in 2023 I pay $3,300 dollars a month for rent in British Columbia. Utilities are at least $200 or $300 a month. I have a student loan payment several hundred dollars a month. I had to move outside the city, so I have to have a car.
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“I really feel like I had a lot more disposable income in 2012 when I was making minimum wage,” she concluded.
It seems as if many people agree with her about the cost-of-living crisis, as one comment stated: “This is definitely true in North Carolina, I used to get like a good lunch for $5-$7 bucks, a dinner would be around $15-$20.
“Now lunch is $12-$15 and dinner is close to $30-$40 without booze.
“This is strictly sober meals.”
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Another said: “Ugh. I remember living in a 3 [bedroom] townhouse in the early 2000s $750, split 3 ways.”
A third said: “I make $170K in Toronto, and I can choose saving for retirement OR a house OR kids. Just one.”
OK, we’ve all got our own problems, and it’s true to say that everyone’s problems are individual and valid, but there are people much worse off out there, so it’s worth sticking another reminder in for them.
It’s tough for everyone at the minute, but it’s seriously tough for those who aren’t so lucky or so well off.