Stretch Your Paycheck Further in Your State
The states where residents are most likely to live paycheck to paycheck are also among the most expensive places to live in the U.S. And, they're primarily on the coasts. So, if you can move to the Midwest or South where it's cheaper, you'll likely be able to keep more of your paycheck each month.
But if moving isn't an option, here are a few things you can do to stretch your paycheck — no matter which state you live in:
1. Track your spending to see what nonessential expenses you can eliminate.
2. Call your service providers to negotiate lower rates to lower your monthly bills. Or, look for better deals from other providers.
3. Consider getting — or becoming — a roommate to reduce housing costs.
4. Get a side gig to increase your income so you can build savings or pay down debt to free up more cash in your budget.
Up Next: How Does Your Financial Future Compare to Most Americans'?
Methodology: Based on each state's median household income, states were ranked according to the percentage of the median paycheck that was left over after subtracting the following: (1) average housing cost per paycheck, (2) total amount spent on food per paycheck, (3) total amount spent on utilities per paycheck, (4) total amount spent on transportation per paycheck and (5) total amount spent on health per paycheck. The states' median household income figures were sourced from the U.S. Census Bureau's 2016 American Community Survey. All expenses were calculated using figures included on the Bureau of Labor Statistics' 2016 Consumer Expenditures report.