One way to cut the cost of living is to cut the amount of electricity we use. A brick, the box that's attached to a power cord, consumes electricity even when the laptop, cell phone or other piece of electronics isn't plugged into it. Televisions and cable boxes use power even when they are turned off and a big screen TV can use as much power as a refrigerator. Then there's that innocent-looking, electric toothbrush. Leaving that plugged in uses two watts of electricity. That may not seem like much, but it could be more than is used by the bathroom lights. To plug in on electricity savings we have to unplug.
McDonald's is another way to cut costs. Because of the down economy restaurant-goers are saving money by scaling down from casual dining to fast food. McDonald's global sales have gone up and its stock reached an all-time high. Because it's the world's biggest restaurant chain, its franchises are usually located closer to customers than the competition. Customers can save gas driving to McDonald's to eat and - according to some - get more gas while they're there.
As more and more people cut costs by shopping at Wal-Mart, the nation's biggest grocery seller is cutting costs too. It's buying local produce. Over the past two years its partnerships with local farmers have increased 50% across the country. In 2008 Wal-Mart expects to buy $400 million worth of local produce, which will mean millions of dollars in fuel savings for the company. Although Wal-Mart stretches the meaning of local to include anything grown in the same state, customers don't mind because it helps them stretch a dollar.
Stretching a dollar is especially important to people earning minimum wage. Three-fourths of minimum wage earners are adults - not teenagers. On July 31, 2008 the second phase of the three-phase minimum wage increase went into effect. The minimum wage went from $5.85 to $6.55. This means an extra $28 a week for those who work forty hours. That's not much. That's why more than half the states have higher minimum wages. The 12% raise means $262 a week and $13,624 a year - which is still $8,000 below the federal poverty level for a family of four. The good news is only 2% of hourly earners are affected by minimum wage. The bad news is 2% of hourly earners are still affected by minimum wage.
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