The debate over a possible minimum wage increase continues in Congress. According to a new study, the $2.85 bump could take 4.6 million Americans above the poverty line. While this debate stretches into 2014, executive director of Foundation Capital Management Charles Minnich provides ways you can pinch your dollar.
“If you free up $3 a day, that’s $1,000 a year,” Minnich says.
Another tip he offers is to call your utility company to see if they offer grants and discounts, as most do, for low income individuals. Such programs in our area include Philadelphia Gas Works’ “LIHEAP,” Low Income Home Energy Assistance Program, and Philadelphia Electric Company’s “Cap Rate.”
There’s also the earned income tax credit, available for a wide range of income levels – up to $50,000 if you have dependents. Take a look for some more great advice from the financial analyst!
And be sure to tune into Eye Opener, a different kind of morning show, weekdays from 6 to 8 a.m. only on PHL-17.