In Florida’s Bay County, basic expenses for one adult total roughly $49,000 annually.
Here’s what to know
The estimate covers necessities such as housing, food, and utility bills, WJHG reported, citing data from the U.S. Department of Health and Human Services.
Savings and nonessential purchases also factor into a comfortable budget. A separate SmartAsset study puts the annual income needed for a single adult to live comfortably in Florida at more than $100,000, allowing for spending beyond essentials while setting money aside.
According to WJHG, SmartAsset applied the 50-30-20 budgeting rule, directing half of income toward necessities, 30% toward wants, and the remaining 20% toward savings. This approach builds saving into household budgets instead of leaving it to whatever remains after the bills are paid.
More background
Ken April, who has lived in Bay County for 10 years, is among those changing daily habits to manage expenses. Throughout the Florida Panhandle, household budgets face pressure from expensive housing and increasingly costly groceries…