The Cost of Living (Very) “Comfortably”
Last month, a financial site for consumer-focused financial information called SmartAsset released a new study regarding the cost of living for a family of four. The wildly subjective report has a very generous standard for what they label as living “comfortably.”
“Comfortable” is defined as the income needed to cover a 50/30/20 budget for a family of four. The budget allocates 50% of your earnings for necessities such as housing and utility costs, 30% for discretionary spending and 20% for savings or investments.
The study claims a family of four living in Illinois would need to make $231,962 annually to live “comfortably.” WHOA. They must pity those of us with larger families who are living well below that standard.
Yet my wife and I can tell you that we are not uncomfortable but content, believing that God will provide all our needs according to His good and perfect will. (Philippians 4:11-19) And He has blessed us in innumerable ways.
It is interesting to see how they assess our neighboring states:
Wisconsin: $225,056
Iowa: $211,411
Indiana: $206,003
Missouri: $202,259
Kentucky: $190,112
The most expensive states were Massachusetts, which was listed at $301,184 and Hawaii, listed at $294,611
The least expensive state was Mississippi, which was listed at $177,798. Just above that was Arkansas, at $180,794.
