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What is a good salary to support one person?
While you can get by as a single person on a $22,000 annual salary in Kentucky or Arkansas, you’ll need at least $30,000 in Hawaii or Maryland. That’s according to data from MIT’s living wage calculator, which determines the minimum amount necessary to meet basic needs without relying on outside help.
What is a fair wage per hour?
1. What is the minimum wage in California?
| Year | CA Minimum Hourly Wage for Large (26+ Employees) and Small (25 or Fewer Employees) Employers |
|---|---|
| 2017 | $10.50/$10.00 |
| 2018 | $11.00/$10.50 |
| 2019 | $12.00/$11.00 |
| 2020 | $13.00/$12.00 |
What’s considered a livable wage?
A livable wage in the least expensive city in the United States, Harlington, Texas, is $10.47 an hour. In Manhattan, the most expensive city, the livable wage is $17.46 an hour, and one would still need roommates….Livable Wage By State 2021.
| State | Livable Wage |
|---|---|
| Hawaii | $61,000 |
| Connecticut | $60,000 |
| Massachusetts | $60,000 |
| New York | $59,000 |
How much does a single person need to live comfortably?
This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The median necessary living wage across the entire US is $67,690.
Is 30k a year good for a single person?
$30,000 a year is good for a single person, but it might be a stretch for a family unless it is one of multiple income streams. However, it can work depending on where you live and how you budget. If you need to survive on $30,000 a year, it may be accomplished through budgeting and reducing your expenses.