Table of Contents
What is a decent salary in us?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
How much money do I need to live in Chennai?
Summary about cost of living in Chennai, India: Family of four estimated monthly costs are 1,185$ (89,226₹) without rent. A single person estimated monthly costs are 335$ (25,261₹) without rent.
Is it possible to live off of $20K a year?
Above that there are also different variables that are going to help you live off of a low income. However, while living on $20,000 per year might not work in high cost of living (HCOL) areas, achieving a 50 percent savings rate definitely is. So, simply change the math a bit, and you can still make it work.
How much money do you need to live comfortably in your city?
Some cities have median incomes way lower than what you need. There is no one answer to how much money you need to make to live comfortably, but one oft-used rule of thumb in budgeting is the 50/30/20 rule — which calls for half your income to go to necessities, 20\% to savings and investments and 30\% for splurges and fun.
Can you earn enough to live comfortably in your state?
If you live in states like California, Oregon, or Maryland, you have to earn much more than the average salary because it costs more to live there. But if you live in states like New Mexico or Tennessee, you can earn much less and still live comfortably. There’s also the question of what your definition of “comfortable” is.
Is $700 a year enough to live comfortably in Fresno?
Fresno is one of the cities where the income needed to live comfortably falls under $80,000 a year for both renters and owners. And, with just $700 a year separating the two, there might be significantly less reason to agonize over the decision than in other places.