It’s Thursday. You deserve a fun graphic. The people over at TaxFoundation.org helped me out by creating this map showing the purchasing power of $100 is state by state.
Basically, take $100 to Mississippi, and it can buy you $115.74 worth of stuff. Take that same money to New York (and this is the whole state, not just the city) and it will only buy you $86.66 (not as bad as Hawaii though, where I used to live!)
So, being frugally minded, I should move right? I mean, I am losing TONS of money by living in NYC! Well, I am losing less than you think. Sure, I spend more on rent than your average U.S. Citizen. Rent in NYC is crazy, no doubt about it. Other than that, I buy groceries at Trader Joe’s, I purchase most everything else online, where everyone is paying the same price. I don’t go out to eat as much as most people who live in NYC and when I do, I often explore the interesting and delicious cheap eats of the city (the fact that NYC has so many options actually helps with choices for CRAZY inexpensive meals). At the end of the day, I am absolutely paying more than if I lived in another city. But I am making a choice to pay more based on my priorities and I am minimizing the “value of $100” effect. I actually spend less money than many people do who live in less expensive areas!
If you still want to challenge me on living in NYC, that’s fine. However, you could probably move to a less expensive area as well. Check out Thailand where the cost of living is MUCH less than the US? Chiang Mai even has a thriving expat community (I’ve actually looked into this)! At the end of the day, I am achieving my goals and living in a city that makes me happy! How can that be wrong?
Either way, though, this map is a lot of fun. Enjoy!
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