Living paycheck to paycheck is an unfortunately common hallmark of American life.
Having it all — the ability to cover basic expenses, while still having "fun money" and contributing to savings — can be a difficult feat.
That total amount, also known as an annual "living wage," varies significantly depending on what state you're in.
GoBankingRates recently determined the necessary living wage in each state using data from the Bureau of Labor Statistics and the 50/30/20 budgeting rule. This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings.
