Money is crucial to Survive
Though it is an expensive country to live in, the United States still remains a popular destination for tourists. Today we’re going to talk about the cost of living in the USA, and this post will help you understand the expenses associated with living in the U.S.
How much should a person’s income be to Survive the expenses in the USA?
The United States is one of the wealthiest countries in the world, and its citizens generally need to earn a lot of money to live. The cost of living varies across the country and the kind of work. Still, for a single individual who needs to earn enough to cover basic expenses, the minimum annual salary should be around $36,000.
How much are monthly living expenses in the USA?
After figuring out how much you are going to live on, it’s time to figure out how much monthly living expenses you will need. The average American needs at least $800 per month for essential living expenses. Let Us see the Expenses that a person living in America must incur.
- Average Transportation Charges in the USA per month
The average monthly transportation charge for an American is about $345. This includes the cost of gas, oil, tires, engine repairs, etc. This amount varies based on your vehicle and the costs in your area. In addition, you also need to consider insurance costs, car loans, registration fees, etc. Depending on where you live, your monthly vehicle expense could be higher or lower. In the United States, the cost of living is generally low and your transportation costs are usually less expensive than in other countries. For example, a Mercedes in Switzerland costs on average $90,000 but can cost as little as $10,000 in the United States.
- Average Utility Charges in the USA per month
The average utility bill for a family of four in the United States is about $150 per month. This includes gas, electricity, water, and other household services. The cost of living in the United States is generally lower than in other developed countries and utilities are cheaper as well. In the United States, average utility costs are less than 1% of your total household income.
- Average Education Cost in the USA
In the United States, the average cost of education at a public university is $8,674 per year, and at a private university, the average price is $41,600 per year.
- Housing Cost in the USA
Housing cost in the USA per year is a little over $9,000, and this includes all housing costs such as taxes, utilities, and furnishings. Although housing cost in the USA per year is around $9,000, many people still struggle to afford it. The median price of a house in the United States is $320,000, which would mean that people who purchase a home with a 30-year mortgage would pay about $216,000.
- Average Cost of Food in the USA per month
The average cost of food in the USA per month is $1,591. This includes the price of fruits, vegetables, grain, meat, oils, sweets, and drinks. The average cost of food in the USA per month is $1,591. This includes the price of fruits, vegetables, grain, meat, oils, sweets, and drinks.
- The average cost of Healthcare in the USA
The average cost of healthcare in the USA is $3,000 per year, but as an individual, you will spend much more than that per year if you have a severe illness.
- The Average Cost of cellphone plans in the USA
In the United States, the average cost of a cellphone plan is $75.00 a month. A significant difference between plans includes the number of minutes you can use. The average price of home phone plans in the USA is $44.00 a month.”
- The Average Cost of Entertainment in the USA
According to an article published by Bankrate.com, the average cost of entertainment in the U.S. is $233 per month.
How To Calculate The Cost Of Living In The U.S.?
Living expenses are an essential component of calculating living wages. It isn’t easy to calculate the cost of living in the United States because so many different factors can affect the price, such as where you live, your income, and your budget. There is also considerable cost of living calculators available on the internet, including one developed by the Bureau of Labor Statistics that estimates how much people need to make to maintain a given level of expenditures.
Conclusion
The average American needs at least $800 per month for essential living expenses. This price differs with different family’s living expenses, and sometimes it takes thousands of dollars to go through a month in the USA. Thinking wisely and spending correctly will be a wise choice.
Meta description: Everything you need to know is the cost of living in the United States of America. This article tells you how much a person should earn to cover living expenses in the USA.