![]() If you pay more than that you're considered "burdened" by your housing costs. Your budget will be more sustainable if you can spend less than 30% of your income on housing. While there are many budgeting tips and tricks that can help you cut down on extra expenses, it's harder to trim the costs of the basics. The cost of many of these necessities has been rising across the US. Then there's food, childcare (if you have kids), medical costs and transportation. That means housing, whether you rent or buy. People differ in how much they're willing to pay on extras like entertainment and gifts but we all have to pay for the necessities. ![]() Let's talk about the factors that go into estimating your cost of living. If not, you might be overwhelmed by higher costs in your new home. Therefore it's incredibly important to plan ahead before your big move. The biggest expenses we all face can vary significantly from one place to another. That's where a cost of living calculator like ours can really make a major difference. ![]() Are the other cities on your list more or less affordable than your current home? If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. Cost of Living Calculator Photo credit: © iStock/fizkes
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