Think life in Colorado feels expensive? You’re not alone.
A recent report from SmartAsset sought to determine how much money someone needs to make to ‘live comfortably’ in various places around the United States, including Denver, Colorado Springs, and Aurora in their analysis. The company looked at two different scenarios – that of a single adult and that of a household with two adults and two children.
When it came to determining what ‘living comfortably’ looks like, the company referenced the well-known 50/30/20 budgeting rule , which basically boils down to spending 50 percent of monthly take-home income on ‘needs’ and 30 percent on ‘wants’ while also putting 20 percent aside for savings. Being able to allocate money in that way means one is ‘living comfortably.’…