3 answers
3 answers
Updated
Becky’s Answer
The response to your inquiry may differ based on your location, household size, and other factors. Use this excellent tool to find the information you need:
https://livingwage.mit.edu/
https://livingwage.mit.edu/
Updated
Brianna’s Answer
Hi, Illissia,
Try looking up "cost of living" for particular areas that you are interested in living in. It will vary wildly from state to state and city to city. For example, a $40k a year salary for one person in Iowa is a liveable salary, but it will not cover living expenses in New York or Califorinia. This becomes even more true when you introduce even one child, but especially multiple.
Try looking at the Pew Research salary calculator to get an idea of what salaries constitue "middle class:"
https://www.pewresearch.org/short-reads/2020/07/23/are-you-in-the-american-middle-class/
Try looking up "cost of living" for particular areas that you are interested in living in. It will vary wildly from state to state and city to city. For example, a $40k a year salary for one person in Iowa is a liveable salary, but it will not cover living expenses in New York or Califorinia. This becomes even more true when you introduce even one child, but especially multiple.
Try looking at the Pew Research salary calculator to get an idea of what salaries constitue "middle class:"
https://www.pewresearch.org/short-reads/2020/07/23/are-you-in-the-american-middle-class/
Updated
Jennifer’s Answer
When you have kids, there's so much to consider! You'll learn some things as you go, but remember, it's a significant choice. I found a helpful article online that you might like: https://www.verywellfamily.com/how-much-does-it-cost-to-raise-5-or-more-kids-5075170#Where%20The%20Money%20Goes
Always keep in mind that you can choose who becomes a part of your life, so choose wisely.
Always keep in mind that you can choose who becomes a part of your life, so choose wisely.
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