Crazy Amount of Money Family of 4 Needs to ‘Get By’ in Wyoming
If this is correct, there are more than a few of us that will need to get an additional job. There's a new financial calculator that claims a family of 4 in Wyoming needs to earn a hefty amount each year to get by.
I saw this first shared by CNBC. It's a new metric created by MIT called the Living Wage Calculator. It estimates housing and living costs for a family of 4. What's the verdict for Wyoming families? You might want to sit down for this. It says that a Wyoming family of 4 needs to make $67,888 every year to "get by".
On the CNBC map, it looks like this.
I'm gonna argue that what they consider "getting by" is quite a bit different than most of us in Wyoming. Without crossing the sharing boundary, I can tell you my W2 didn't have that many big numbers on it and my family is plenty happy.
The scary thing is this MIT Living Wage Calculator says that their number is the bare minimum. Here's how they describe $67,888:
The living wage model is a ‘step up’ from poverty as measured by the poverty thresholds but it is a small ‘step up’, one that accounts for only the basic needs of a family. The living wage model does not allow for what many consider the basic necessities enjoyed by many Americans.
I'll just say that I will agree to disagree with them. It's an interesting read if for no other reason than to see how Wyoming compares to the rest of the country.