This is a great calculator that gives the average living market value in the county/city that you live in. Depending on how many children or other adults live with you gives you the ideal income on how much the average person needs to make per year to live in the city, town, or county in good financial health. Link: https://www.epi.org/resources/budget/
It’s amazing how different the costs of living are like in per city. I have lived in New Jersey in my early childhood years, Broward County for a year, Miami for a year and in Tampa since 2006. Although Tampa is the city I live right now, it is just not home to me and the job market isn’t the best unless you work in the medical or law firm companies as they are the strongest demand of work in the area. My goal is to move out of state in Virginia to work along-side with my business partner once I pay off 13k of student loans I have remaining, as it will be an opportunity to work with a likeminded person and increase my income.
It motivates me to see the chart to know I need to make more money and have better work skills to build the financial future that I want for myself. Sometimes the best decision in life is to move out to a new city or state for a better work opportunity and getting out of your comfort zone. What area do you live at? Comment below.