Following this outline, 50% of income is used to cover necessities, such as housing and utility costs, 30% goes toward discretionary spending, and 20% is left for savings or investments.
Hawaii’s living wage is more than double what many single people earn, as the U.S median income for single, full-time workers is $57,200, per Labor Bureau data. In Mississippi, however, the living wage is just $45,906, according to GOBankingRates data.