What’s a Good Salary to Live Happily in Denver, CO

Photo by NeONBRAND on Unsplash

Your earning will significantly influence your decision to choose a place to live. So if you want to live in Denver, Co, how much should you get to have a comfortable life there?

The Cost of Living in Denver

Denver has a COL (Cost of Living) in the overall index at 128.7. This is for a homeowner with no child care. Denver is a fairly affordable place to live but not good enough to be among the 50 largest cities to live in.

With a reasonably affordable price and a $100K earning, you could fare enough to live in Denver with a meager income leftover. But what about taking on a five digits number? How far could you get to live with that means?

In Denver County, the median household income was $68,592, according to the United States Census Bureau in 2015 - 2019. But to live comfortably, these are the monthly costs for two adults and two children.

• Housing - $1,298
• Food - $810
• Child Care - $ 1,583
• Transportation - $ 1,095
• Health Care - $ 966
• Other Necessities - $ 850
• Taxes - $1,100

Monthly Total - $ 7,702

Annual Total - $ 92,426

And therefore the monthly earning should be at $7,702 minimum. Thus, for income sufficiency, you need to make more than this amount to provide savings.

Ways to Increase Annual Income

If you belong to a family with two adults and two children and belong to the median earners, you can make ends meet by doing some ways to increase your annual income, Forbes.com says.

• Use your existing employee benefits like a dependent care FSA and healthcare FSA.
• Help other companies, make money on your experience and expertise
• Adjust your withholdings
• Sell your snaps - license and sell your strongest photos
• Start a side hustle
• Be creative - cut on expenses
• Add a new skill and earn extra money

Follow me to see more articles like this.

...

Follow

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.