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How Much You Need To Live \"Comfortably\" In Each U.S. State

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How Much You Need To Live \

2019-11-18 02:05:59

The cost of living is notoriously high in the U.S. and Business Insider says that many Americans are living paycheck to paycheck. With the cost of living varied from state to state, GoBankingRates released a report that estimates the "living wage" needed in each state to live "comfortably." Comfortable is based on the the Bureau of Labor Statistics and the 50/30/20 budgeting rule. Business Insider explains, "50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings." Annual living wages can drastically vary from state to state, including: 1. California: $99,971 2. New York: $95,724 3. Mississippi: $58,321 4. Florida: $67,614 5. Hawaii: $136,437

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