Minimum wage in Arizona to increase New Year's Day
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The minimum wage in Arizona is increasing to $7.80 an hour in 2013, a jump of 15 cents. It joins 9 other states that are also increasing their minimum wage rates.
The minimum wage increases in several states, including Colorado, Florida, Missouri, Montana, Ohio, Oregon, Rhode Island, Vermont and Washington on New Year's Day.
16-year-old high school students Miranda Olson says the raise at her part-time cafe job will help her toward her goal of buying a car.
Many workers around the country won't be as lucky as residents of Washington state, which is raising its minimum wage by 15 cents an hour to $9.19 even though it already has the highest state baseline in the country.
Among the nine states with automatic adjustments, the average minimum wage is $8.12 an hour, up from a little under $8. States that do not have automatic changes operate with an average minimum wage of about $7.40.
The cost of living in Arizona increased 1.7 percent from 2011 to 2012, according to the Bureau of Labor Statistics.
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An emergency fund will help see you through an unexpected and potentially costly life event, such as a health crisis, a job layoff or a major home repair.
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If you don't have a plan for the money when that refund check comes, consider these five options for letting the savings you accumulated last year bring you greater financial security and peace of mind in the years to come.
If you don't have a plan for the money when that refund check comes, consider these five options for letting the savings you accumulated last year bring you greater financial security and peace of mind in the years to come.