Spyke

Syndicated from the fediverse. Read and engage on the original instance.

View original on sh.itjust.works

Report: This is the income needed to ‘live comfortably’ in Arkansas

FAYETTEVILLE, Ark. (KNWA/KFTA) — Arkansas is among the top 10 states where it’s least expensive for a single adult to “live comfortably,” according to a new report.

Personal finance site SmartAsset used MIT Living Wage Calculator data to gather the basic cost of living for an individual with no children and for two working adults with two children.

The report found that Arkansas had the second-lowest income needed to “live comfortably” for a single working adult.

SmartAsset defines “comfortable” as the annual income required to cover a 50/30/20 budget rule, which recommends spending approximately 50% of your income on basic needs like food and housing, 30% on wants, and putting away the remainder toward savings or paying off debt.

The report said the income needed for a single adult in Arkansas to “live comfortably” is $83,242, up 2.7% year over year. The income needed for a family of four to “live comfortably” is $195,437, SmartAsset said.

On the other side of the rankings, Hawaii was the most expensive for a single adult to “live comfortably,” with a needed salary of $129,002.

The top 10 states with the lowest incomes needed for a single adult to “live comfortably” were:

  1. West Virginia
  2. Arkansas
  3. Kentucky
  4. Louisiana
  5. South Dakota
  6. North Dakota
  7. Mississippi
  8. Oklahoma
  9. Ohio
  10. Alabama
https://www.nwahomepage.com/news/state-news/report-this-is-the-income-needed-to-live-comfortably-in-arkansas/Open linkView original on sh.itjust.works
3

2 replies

The report said the income needed for a single adult in Arkansas to “live comfortably” is $83,242, up 2.7% year over year. The income needed for a family of four to “live comfortably” is $195,437, SmartAsset said.

Arkansas ranks second least expensive and it is still ridiculously expensive to live here.

5

You reached the end

Report: This is the income needed to ‘live comfortably’ in Arkansas | Spyke