Here’s how much money you must make to live comfortably in Georgia, report shows

In more bleak financial news, a new study finds that single Americans have to make almost $100k a year to live comfortably, while a two-income family with two children has to make more than twice that amount. As you may have noticed, this is far above the median household income of $67,730.

This disparity reflects the current problems of the middle class and the fear attached to existing in America right now. It seems like most Georgians are not living very comfortably at the moment.

What does it mean to live comfortably?

SmartAsset , the financial organization responsible for this latest study, based the idea of “comfortability” on the 50/30/20 economic paradigm .

This formula suggests wage-earners should spend 50% of their income on basic necessities, 30% of their wages on things they want, and put 20% away for savings.

Although this can be wildly subjective, depending on the individual, there are some basic categories that you should consider.

• Basic necessities : this usually includes housing, utilities, food or transportation.

• Things you want: this covers discretionary spending on things like eating out at restaurants, entertainment, hobbies, beauty and self-care, or travel.

• Savings: this is the amount of money you put away to save or pay down debts

What are the salary requirements for Georgia?

Although the median national income needed for a single person to live comfortably is around $89,461 a year, Georgia’s number is higher.

Georgia is no. 15 in the rankings of comfort-seekers. According to this study, a single person who wants to live comfortably here needs to draw a salary of $96,886 a year , or $46.58 an hour.

Are the income requirements the same for couples or parents?

Absolutely not. In fact, it is considerably higher for couples and parents to live comfortably . In a two-income household with two children, the combined necessary income is $212,826.

Financial advisors recommend applying the 50/30/20 rule, but the criteria for “necessities” changes drastically for families. Things families must factor in include:

• Housing costs

• Access to quality education

• Healthcare access and costs

• Family and community support

• Safety and low crime rates

• Proximity to schools

What are the most and least expensive states in the US?

These are the top three states ranked by the annual income needed to live comfortably as a single adult:

1. Massachusetts - $116,022

2. Hawaii - $113,692

3. California - $113,692

These are the bottom three states ranked by the annual income needed to live comfortably as a single adult:

3. Oklahoma - $80,412

2. Arkansas - $79,456

1. West Virginia - $78,790

Are you shocked by these numbers? Tell me what you think? Sound off in the comments, or you can email me and find me on Instagram .

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