McDonald’s has teamed up with Visa to help its employees manage their personal finances. Yes, I’ll give you a second to let the laughter die down. Sometimes when you laugh that hard your eyes water.
Most people will appreciate McDonald’s suggestion that a personal budget is a good thing, but all the company has really done is reignite the debate on how impossible it is to work at the Golden Arches and afford to live.
Take a look at how it’s all supposed to work:
You notice anything about living on a McDonald’s wage? Like the fact that you would need a part-time job on top of your full-time job at McDonald’s to get the budget to balance? Yeah, that $1,105 is the figure if you were putting in 40 hours per week at McDonald’s after taxes.
I’d love to hop into the “raise the minimum wage” debate here, but there’s just something disheartening about putting a Band-Aid on a gaping flesh wound. Raising minimum wage isn’t going to do anything but raise the cost of everything else. It blows my mind that people still don’t understand how inflation works, and the fact that our financial system in the good ol’ USofA is destined for failure. It’s based on unethical models and practices that we can’t sustain for the long-term.
I’m not suggesting it’s all going to stop. Rather, we’ll continue with these “I can’t live on my wage” problems. That is, unless you’re exceptionally affluent or savvy, or the banks decide that honesty and fairness is truly the best policy.
To the McDonald’s wage workers of the world, I suggest becoming very, very money savvy in a big hurry. Depending on where you live, the figures afford a variety of options, but one thing’s for certain: you clearly can’t afford heat, so maybe spend some of your 27 daily dollars on a blanket.