Are you aware that the average American household spends over $5,100 on the cost of living each month?
With inflation rates soaring and wages failing to keep up, lots of people are struggling more than ever to make ends meet. If you’re tired of scraping by, you might be wondering where else you could go to enjoy a better quality of life.
Would you like to learn more about the lowest cost of living by state? Keep reading our guide that will introduce you to some of the most affordable states in the country that you should consider moving to.
When it comes to the cost of living index by state, Mississippi takes the cake. If 100 is the average cost of living, Mississippi comes in at 84.9. It’s worth noting that Mississippi is a state that rewards homeowners more than renters, so you should consider buying property to maximize your savings.
Mississippi does have an unemployment rate that’s slightly higher than the national average, but there are plenty of awesome perks you can enjoy while living there. The food scene is delightful and the weather will keep your spirits high.
As a general rule of thumb, lists that rank the US cost of living by state always include several states in the Midwest. This area isn’t as populated as other areas in the country.
While you may not have access to as much entertainment in a quiet state like Oklahoma, the cost of living index is 85.7. You’ll be able to save up for great vacations when you’re ready to explore.
If you’re thinking about moving states to keep your spending low, then Kansas should also be on your list of contenders. It has a cost of living index of 86.4.
Employers in Kansas tend to pay well and the cost of goods and services is much lower than the national average. You can build a cozy life in the Sunflower State.
Alabama has a cost of living index of 87.5 and you can even live in a bustling city like Birmingham and still fly low compared to the national averages. While you may not see a huge difference in your utility bills, all other facets of life should be much more affordable.
Alabama has a wide range of natural and city attractions, so you’ll never get bored. You can view more here to learn more about moving out of state.
There’s a lot to love about the Peach State. The cost of living index is 87.8.
You’ll have to hunt for the right housing for your budget, but you’ll be delighted to know that your salary should be quite competitive. Georgia also has wonderful weather and plenty of activities.
Now You Know More About the Lowest Cost of Living by State
Although moving costs can get tricky to manage, it’s worth relocating to a cheaper state if you’re falling behind. After reading this guide on the lowest cost of living by state, you can map out your future plans to boost your finances.
Want other money-saving tricks? Explore our site!