Fox 5 Atlanta Reports-
The Brief
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- Georgia ranks among the top 20 most expensive states for single adults, requiring an annual salary of $99,590 to live comfortably, according to a new SmartAsset study.
- Families of four in Georgia need about $210,829 per year to maintain a comfortable lifestyle, placing the state 33rd in affordability for families.
- Nationwide, the cost of living is climbing, with individuals needing nearly $6,000 more and families needing $9,000 more this year compared to last.
SmartAsset used the popular 50/30/20 rule to crunch the numbers, recommending that 50% of income go toward essentials like housing and food, 30% toward personal spending, and 20% toward savings or debt. The study looked at how much pre-tax income it takes to stick to this balance in each state.
While Georgia’s costs are high, it’s far from the most expensive.
If your a single person living in Georgia do you agree with the study?
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