in my mind minimum wage is still $7.25 so I don't think you earn minimum wage, however today you'd need to earn $11 an hour for 8 hours in order to be able to rent an "efficiency" apartment. An "efficiency" apartment is for ONE person only. A "studio" apartment is only for ONE person (not two).
2080 hours x $9.25 = $19,240. .35 (35%) x $19,240 = $6,734. $6,734 divided by 12 months is $561 is all you can afford to pay for an apartment. Know that that in 2015 prices per month now have increased by $30-$35 per month here so I'd assume it's that way there as well. Know that every year your rent will increase.
While I know that student loans could be for just schooling, some have aid for housing as well but I don't know how much. It would be better if you have your own place but with your income you'd probably only be able to afford a room + shared bath in someone's home. Having a roommate is not a good thing (maybe bad influence, maybe has different hours than yours, maybe is a partier and you might not be, and they might want friends in who will bother you and your grades will drop). If you're in school then you're in it for the best possible grades. Roomates tend to have problems, one leaves and sticks the other with the rent then you'd have to find another roommate and sue the first roommate, etc.
9.25 an hour probably works out to a total of 19000 a year. After taxes lets call it 12000 to spend per year.
that is 1000 a month, 250 a week. if your rent is 700, you have 300 dollars a month so 70 a week to spend.
70 dollars a week to live on. and you probably want cable 100-140 a month, maybe food, things for your apartment. and the car gas, insurance, renters insurance.
I think 30% is the total amount you should pay for living. so you need something 300 a month. That is nothing nice.
You could get a second job.
How many hours per week do you work?
9.25 @ 8 hrs. is $74.00/day.
$74.00 @ 5 days is $370.00/wk X 4 wks. is $1,480.00/mo. gross.
At $900.00/mo.rent leaves you with $580.00/mo. for all other expenses minus income taxes.
You will need to look for a cheaper place to live,get a better paying job or a room mate to hopefully help pay the rent and expenses.
It is possible,but you still need steady work hours every month just to live on next to nothing unless you can get some public assistance.
Get a better job. Basic economic theory says that if they raise the minimum wage the prices of everything will rise accordingly.
You make nowhere near enough money for a $700 apartment on your own. You /might/ be able to afford the cheapest thing possible with a roommate.
You need to keep in mind, you can afford how much you make in a week. So, yes you can if you split the rent.
Working to get a better job
