As the cost of living continues to rise in the U.S., a family of four needs to earn more than ever to live “comfortably,” according to a new report by GOBankingRates.
Using data from the Bureau of Labor Statistics and the Missouri Economic Research and Information Center’s 2024 Cost of Living data series, GOBankingRates researchers analyzed annual living expenses for a family of four in all 50 states. For the report, a “living wage” is defined as the income required to cover 50% of necessities, 30% for discretionary spending, and 20% placed into savings.
The data tells an expensive story.
Every state’s living wage was at least $82,000 a year. In
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