If you gamble on faith — not on odds — you might want to stop reading this now. Because the chances of winning just about any big stakes lottery game — like Mega Millions — is just north of impossible. Let’s take Powerball, for instance. Odds of winning the jackpot: about 1 in 175 million. By comparison, your odds of getting hit by lightening — a presumably less favorable outcome — are significantly higher. So, be sure to take shelter during thunderstorms, and, if you play the lottery: you might not want to quit your day job just yet. But hey, you never know, right? People win all the time. In this animation and accompanying infographic, animator Joe Golling explains how to calculate the mathematical possibilities of buying the winning ticket.
Looking for an apartment to rent in San Francisco?
Last year, the City by the Bay earned the dubious distinction of having America’s most expensive rental market, beating out longtime heavyweight New York. Due in part to the surge in the region’s tech-fueled jobs market (some “friend” indeed, Zuckerberg!) and the city’s longstanding shortage of affordable housing units, the spike has led to jaw-dropping rents, with the median monthly rate of a mere studio at more than $2,200 a month, according to apartmentlist.com. Continue reading →
California’s lowest-paid workers received some much welcomed news this week when state lawmakers approved a hotly contested bill to gradually bump up the minimum wage to $10 an hour.
The legislation, which Governor Jerry Brown has already promised to sign, will hike the state’s minimum wage to $9 by next July and $10 by January 2016, an increase of 25 percent. It’s the first statewide increase in six years, and will give California the highest minimum wage in the nation. Currently, Washington State leads the way, with a minimum wage of $9.19 an hour. California also trails Vermont and Oregon. Continue reading →
It turns out that your little bundle of joy is going to cost you a big bundle of cash.
That’s according to a recently released U.S. Department of Agriculture report calculating the average cost of raising a child born in 2012. Accounting for food, shelter, schooling and other basic necessities, the report estimates that from birth to age 18, a kid will rack up a total bill of about $241,080, or just shy of $13,400 per year. When adjusted for inflation, that total translates to more like $302,000, or about $16,800 per year. And no, that does not include college.
It now costs about 23 percent more to raise a kid than it did in 1960 (adjusting for inflation), according to the report. It also notes that rearing costs, not surprisingly, vary by geographical region: the urban Northeast is most expensive (a whopping $271,170), followed by the urban West at $256,710. And nationwide, rural areas are the cheapest regions to raise kids, largely because of the housing cost differential.
Explore this USDA infographic for more details, and check out the interactive chart below it, which breaks down the average cost into individual expenses. If, after that, you’re still considering parenthood, take a look at the USDA’s interactive cost calculator for a customized estimate.
And for that reason, most of us have flocked to clothing stores like H&M and Old Navy for the unbelievably cheap and expansive selection they offer.
T-shirts for five bucks; jeans and dresses for under $20. It’s almost like you can’t afford to not buy it.
Clothing is cheaper now than it’s ever been: today average Americans spend less than four percent of their total income on their wardrobes, about half what was spent 50 years ago, according to the Bureau of Labor Statistics.
It’s almost cheaper today to buy a whole new wardrobe than to pay to wash your old one (a bit of an exaggeration, yes, but really not all that far off).
But you know the saying that there’s no such thing as a free lunch? Same thing goes with your $5 t-shirt – it comes with some steep hidden costs. There’s no possible way retailers like H&M could be making billions in profits selling clothing at such low prices without there being some catch.
Benjamin Franklin once famously wrote: “In this world, nothing can be said to be certain, except death and taxes.”
Well, the deadline for the latter inevitability (and hopefully not the former) is just around the corner.
For many Americans, mid-April means last minute scrambling and groaning, a last ditch effort to get taxes filed by the April 15 deadline.
So what happens to all that hard-earned cash of yours?
The federal budget – on which the government operates – consists mainly of revenue from income taxes and payroll taxes. In an effort to demystify what the government actually does with that cash, Google and Eyebeam last year put out a call to graphic designers and developers to help visualize how our federal income tax dollars are spent. The Data Viz Challenge, as it was called, drew some very cool entries, including the following interactives (click on each to explore the multimedia versions).
Where Did All My Tax Dollars Go?
Designed by Anil Kandangath, this won first place in the contest. It allows users to enter their income and view a clear breakdown of what services that money went towards.
Every Day Is Tax Day
Designed by Fred Chasen, this project took second place in the contest. It allows viewers to explore how many hours they actually spend working directly for the government over the course of a year, and what programs that cash funds.
Much of President Obama’s State of the Union address last Tuesday centered on the theme of boosting America’s dwindling middle class.
“It’s our generation’s task,” he implored, “to reignite the true engine of America’s economic growth — a rising, thriving middle class.”
Among the more tangible policies mentioned that evening to further that objective, the president proposed raising the federal minimum wage – from $7.25 per hour to $9 by the end of 2015 – and provide for annual cost of living adjustments. (This would apply to most hourly jobs, with some exceptions, including some tip-based work.)
“Let’s declare that in the wealthiest nation on earth, no one who works full time should have to live in poverty,” he said. “Working folks shouldn’t have to wait year after year for the minimum wage to go up, while CEO pay has never been higher. So here’s an idea that Gov. Romney and I actually agreed on last year: Let’s tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.” Continue reading →
When Benjamin Franklin famously wrote that “in this world, nothing can be said to be certain, except death and taxes,” he neglected to mention a third absolute: our government’s eternal failure to agree on how high those taxes should be and what they should pay for.
As long as our nation continues to spend a lot more than it takes in, the issue will continue to be a saga between conservatives and liberals, the former fighting for lower taxes, fewer public services, and smaller government; the latter pushing for higher taxes on the wealthy, more government revenue, and a preservation of the social safety net. It’s like a really boring, annoying version of the NeverEnding Story (without the cool flying animals). Just think about the last few months in Washington: we narrowly averted hurling ourselves over the fiscal cliff only to re-enter into a battle over the debt ceiling. Continue reading →