Here’s What It Costs in a Year to Be a Single Someone in New Jersey
If you're coupled up in New Jersey, for better or worse, you might want to thank your lucky stars once you hear how much it costs on average to be a single person for one year in the Garden State.
It looks feasible but it's most likely a struggle for singles trying to make it out there on their own, whether by choice or by circumstance.
Recently, GOBankingRates wanted to find out exactly how much it costs to be single in America. Analyzing data from the U.S. Bureau of Labor Statistics, they calculated the minimum amount a single person would bring in on a yearly basis.
The Criteria to Determine Living Single in America:
- 50% of income allocated towards necessities (i.e. housing; utilities)
- 30% of income for discretionary spending
- 20% towards savings or investments
Hawaii is the most expensive state in the country for a single someone. On average, a single person needs a livable wage of just over $112,000.
Coming in at #2 is Massachusetts (approx. $87K/year), and in third place is California, where singles need a yearly income of about $80,000.
So, how about New Jersey?
A single person living in the Garden State would have a hard time getting by on less than $64,000.
It's slighter cheaper to live in Delaware at just over $56K a year, even better if you're in Pennsylvania, where the average single person's yearly take home is around $53,000. The P.A. number surprised me the most because I can't think it would be very economical to be a single someone in Philly.
Are you single in New Jersey? Are you side hustling to make ends meet? Let us know in the comments.