How Much Income Do You Need to Survive in Michigan?

Let's face it, just the simple task of living is expensive. Everything costs money, no way you get around that.

The question is, how much money do you need to exist, you know, live and be safe?

That question was tackled by the website SmartAsset, and the results were revealing. They used statistics from MIT Living Wage to figure it all out.

Whether you are single, a couple or a family, of course the amount of income needed to sustain yourself is ging to be different. Also, there is a big difference as to where you live, city and state.

It seems the most expensive places to live, whether single, couple, family, is the East Coast, and Hawaii. So I'm not going there.

Let's talk about Michigan. What does it cost to live here?

Survey say, one single person would need at least $42,187 a year to cover basic living!

What about a couple? With one working, a couple would need at least $58,768 a year.

The cost goes up when you add children, as you would guess.

Let's say a traditional family of 4 would need at least $107,249 per year to get by.

SmartAsset says:

"The findings are based on cost estimates for housing, child care, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator. Investment contributions and discretionary expenses like entertainment or travel are not included."

Honestly, it's tough out there and so many families are struggling.

CNBC says that families are having to find any way to cut expenses because their incomes are not up to what this survey says is needed to exist.

Go to the SmartAsset website to see all the facts and figures, and, best wishes!