I can remember talking to my grandma about the rough times she and my Grandpa had after they were married. My Grandpa worked in a factory and made just under $300 monthly.

Grandma worked whatever jobs she could to earn extra money. At that point, they already had one baby, and another was on the way. They lived on a farm, so much of their food was grown at home, but they still needed to purchase specific items.

Can you imagine having a family of four and barely making $5,000 annually? There's no way you could manage that today.

A study from GoBankingRates, released last year, showed how much a family of four would need to live comfortably in Wyoming today. 

Hold on to your wallet, cross your fingers, and hope you fall into this category.

To determine the 'living wage' for a family of four consisting of a mother, father, and two children, they surveyed the annual living expenses. For instance, they figured that 50% of the yearly income covered necessities, 30% went to discretionary spending, and 20% went to savings.

When the final numbers were crunched, Wyoming was in the middle of the pack overall but toward the front of the bottom half of states. Of the 50 states, 26 require at least a six-figure income, and Wyoming is one of the 26.

Hawaiians with a family of four need the highest annual income of $258,918. It is the only state that requires an income of over $200,000.

Wyoming is the 27th most expensive state overall and has the third lowest six-figure income needed, at $100,750.

The annual income needed: $100,750

    • Annual Cost of Housing: $19,774 (average $1,647.83/month)
    • Annual Cost of Groceries: $8,423 ($701.92/month)
    • Annual Cost of Healthcare: $7,751 ($1,937.75/ family member annually)

 

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