Average Hours You Need To Work To Live Comfortably in Each State

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What are the average salaries needed to live “comfortably” in each state? How about the number of hours you need to work each week?  Those are some interesting questions that the folks at GOBankingRates set out to discover.  They crunched the numbers from all 50 states, looking at each one’s median hourly wage to get the total number of hours needed to work to cover expenses, nonessential items and savings.   They then ask, can you earn enough to cover your bills and have money left over to pay for extras and save for the future?  Their list starts with the state having the least number of hours needed to work up to the one with the most.  Indeed…

“If you worked a 40-hour workweek earning the minimum wage of $7.25 per hour, you would earn $15,080 a year before taxes and any other payroll deductions. Although that’s above the federal poverty line of $12,490, it’s certainly not enough to live comfortably.”

Click here to read the full story at gobankingrates.com.

About Author

Director of Education & Outreach, National Real Estate Investors Association