Cost of living is increasing around the country. At the same time, wages have not kept up with the pace.
We’re seeing costs increase simultaneously with flat wages. This is typically referred to as inflation, but official figures are adjusted. Nevertheless, the reality can’t be hidden. Many people notice their standard of living decreasing while cost of living increasing.
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Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years after the Great Recession, Americans’ finances remain precarious as ever.
These difficulties span all incomes, according to the poll conducted by The Associated Press-NORC Center for Public Affairs Research. Three-quarters of people in households making less than $50,000 a year and two-thirds of those making between $50,000 and $100,000 would have difficulty coming up with $1,000 to cover an unexpected bill.
Even for the country’s wealthiest 20 percent, households making more than $100,000 a year, 38 percent say they would have at least some difficulty coming up with $1,000.
Help Is Here
Many Americans are finding it ideal to move out of their current state. In fact, residents have been fleeing high tax states in droves. In America, cost of living varies greatly based on location. Thankfully, now there’s a way to find out where you might be better off.
City vs City is a powerful cost of living calculator. The app looks at income, expenses, and savings to determine your cost of living. It then factors in state and local taxes and determines your true cost of living in your area.
Our app allows users to compare their cost of living with another city to determine where they might get the most bang for their buck. If you’re struggling with a high tax state, Download City vs City today!