WOODBURY – With the new year, new laws have come along, this time affecting paychecks. As of January 1, 2025, minimum wage has been increased to $16.25.
The state of Connecticut has decided to increase the minimum wage, leaving many students with bigger paychecks. The question is, what will the students do with the extra money?
“Since getting the raise this year, I am going to invest and save the money,” said junior Ty Starziski.
Students have different opinions on what to do with this money. Some students prefer to put their money in the bank and save, while others have expenses to pay.
“Between paying for my car insurance and my horses needs, the raise of minimum wage will hopefully help me be able to comfortably pay,” said senior Cassidy Sanzone.
While many students have all different jobs and have to pay for different things, many employers have been very understanding of this change.
“I work for a mechanic, so my boss was very understanding of the change knowing that I’m going to be buying parts for my truck,” said senior Cameron Frazier. “With the extra money now, I’m just going to be able to buy more parts to put on my truck.”
Whether it’s buying new parts or saving it, this change will help many students. Students may have one plan with what they’re going to do with the money, but some parents may wish it was another.
“They use their earnings to pay for expenses such as gas, food or things they want. They also invest some of their earnings in the stock market,” said NHS Spanish instructor and parent, Karen Sandor. “I want them to learn the value of money. I hope that with the extra money they earn that they spend it in a responsible way of their choosing. I think spending it for both fun things and putting some away is the smart choice.”
This most recent increase in minimum wage comes after several previous increases that brought the state’s rate from $11.44 in 2020, to now $16.35 which is one of the highest in the country.
“I think overall the increase will definitely help people.” said Sanzone.“It will allow us to not be as cautious in some times about what you’re buying and will hopefully help people save up for things they need money for, like college.”
