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What your budget might look like if you make the federal minimum wage

How to budget if you make $7.25 per hour

More than a third of U.S. states still adhere to the federal minimum wage in 2021.

A full-time worker making $7.25 per hour will take home around $1,000 every month after taxes.

CNBC crunched the numbers, and we can give you an idea of what your budget and housing expenses might look like if you make the federal minimum wage. 

This case study is meant as a goal and may not work for everyone.  

Keeping electronic records of your spending will help you stay organized. And there are apps that can help you. Some can link your credit and debit cards to your budget so you can keep track or even set limits.

Check out this video for a full breakdown.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.