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You can live for very little if you're careful. Of course, if you add on additional costs, the wage you need to survive increases. I always viewed "minimum wage" as the absolute minimum you need to survive. Of course it's not gonna be enough if you have more costs!
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If you go into debt for education, you are probably sacrificing your ability to be comfortable on a minimum wage. If you have kids, you sacrifice it. If you want to live alone and not with roommates in some areas, you sacrifice it. This seems sensible to me.