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Money Monday: Negotiating credit card debt
Morgan Lavoie, the editor-in-chief of Money News Network, shares ways you can negotiate your debt with credit card companies.
ORLANDO, Fla. - How much money do you need to make to live comfortably in Florida? SmartAsset revealed that answer in its new 2024 study.
The study analyzed the salary a single adult needs to afford a cozy lifestyle within some of the largest U.S. cities based on the 50/30/20 budget rule – which means allocating 50% of your salary to your needs, 30% to your wants and 20% to savings or paying off debts.
Here's what the study revealed for single Floridians living in the following cities:
Orlando
- Hourly wage needed for a single adult: $48.22
- Salary needed for a single adult: $100,298
- Total salary needed for two working adults with two children: $212,160
Tampa
- Hourly wage needed for a single adult: $45.40
- Salary needed for a single adult: $94,432
- Total salary needed for two working adults with two children: $209,498
Jacksonville
- Hourly wage needed for a single adult: $44.08
- Salary needed for a single adult: $91,686
- Total salary needed for two working adults with two children: $208,666
MORE STUDIES:
- Florida considered one of the 'most sinful' states in the US: study
- Orlando, 2 other Florida cities among the nation's top 50 cities with the most bed bugs: study
Port St. Lucie
- Hourly wage needed for a single adult: $43.90
- Salary needed for a single adult: $91,312
- Total salary needed for two working adults with two children: $205,587
St. Petersburg
- Hourly wage needed for a single adult: $45.40
- Salary needed for a single adult: $94,432
- Total salary needed for two working adults with two children: $209,498
Miami
- Hourly wage needed for a single adult: $48.52
- Salary needed for a single adult: $100,922
- Total salary needed for two working adults with two children: $215,904
Nationwide, the top city with the lowest salary needed to live comfortably is Houston, Texas. SmartAsset's study reveals a single adult needs to make $36.10 or $75,088 to afford an enjoyable life there.