Quick Hit Aricka Flowers Thursday July 18th, 2013, 6:35pm

McDonald's Financial Planning Site Doesn't Add Up (VIDEO)

As fast food and retail workers continue their Fight for $15, a call for an increase of the minimum wage, McDonald's decided to do their employees a favor and create a financial budgeting site meant to help them "take control of [their] money."

But, as a new video shows, even McDonald's has to do some fancy maneuvering to make their low hourly wages of $7 to $8 seem even somewhat manageable.

Some of the head scratch-inducing math the Golden Arches came up with includes monthly allocations of $20 for health insurance, $100 a month for car AND home insurance, NO money for heating, food or child care, and income from a second job! But this second job would be especially difficult for workers to take on considering one of their major complaints is that they do not have regular hours, which makes it next to impossible to schedule schooling or another job around.

Take a look at more of McDonald's funny money budgeting tips:

This morning, Chicago McDonald's worker Nancy Salgado was on the Today Show to discuss the difficulty she has in trying to raise two children on an income of $11,400 annually, which is far less than the $25,000 income the fast food giant factors in for workers on their financial planning site (which includes that second job). The Census Bureau says the median income for fast food workers is abot $18,000, if they can manage to get full-time hours. Check out Salgado's interview here.

There have been some small victories for retail and fast food workers since they launched their fight for an increased minimum wage and ability to unionize without retaliation back in April. But the latest moves by McDonald's show that the fight is far from over considering how daft and out of touch the leaders of many major corporations appear to be when it comes to understanding what defines a true living wage.

Comments

McDonald's budget allots quite a bit of money for a car payment and car insurance. Most McDonald's are in urban area and a car ownership isn't necessary.

If they're that hard-up, sell the car and get a bicycle. Most probably live within 5 miles of McDonald's and could very easily ride a bicycle to work.

Bob Kastigar
IBEW Local 1220, Chicago

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