The American city where the obtaining of a six-figure salary is considered a "low income"



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LIVING in California near San Francisco is so expensive that even earning a six-figure salary may not be enough to make ends meet, according to new figures.

A family of four earning $ 117,400 (£ 88,321) Families in San Francisco earning $ 117,400 a year are considered low-income families "clbad =" lazyload "data-src =" https: //www.thesun.co.uk/wp-content/uploads/2018/07/NINTCHDBPICT000419319062.jpg?w={width} "data-sizes =" auto "data-img =" https: //www.thesun. The families of Getty-Contributor

of San Francisco earning $ 117,400 per year are considered low-income families in and around San Francisco.

The "very low income" category ranges from $ 44,000 (£ 33,101) to $ 73,300 ( 55,144) per year for a family of the same size

according to a report by the US Department of Housing and Urban Development.The figures place San Francisco and neighboring cities in front of Los Angeles, where the threshold of "low income "for a family of four is $ 77,500 (£ 58,304.41). New y Ork City with $ 83,450 (£ 62,780 )

The cost of living and housing increases more and more.

How the cost of your travel, food and energy costs has changed in the United Kingdom

The types of goods and services required for a minimum standard of living have remained broadly the same, but the cost and the way which people buy from them have changed – according to the Joseph Rowntree Foundation (JSF)

  • Public transport has become much more expensive and bus services have been reduced
    As a result, transportation costs represent nearly 40%. one-fifth of the minimum household budget.
    The bus trip costs 65% more than in 2018 in 2008.
    For a single person, the minimum transportation budget has increased from £ 17 to £ 37 per week
  • The store of Weekly diet – On average, the cost of food increased by just over a quarter between 2008 and 2018, but a minimum food budget for a single person. Energy – On average, energy bills are more than 40% higher than those of a decade ago, putting pressure on household budgets, despite the fact that the energy bills are still high. Internet facilitates the search for better rates and the improvement of energy efficiency of lighting is less strong for some households.
  • Childcare expenses have risen sharply – The average price of a full-time child room for two 22-year-olds is now 229 £ per week, more than 50% since 2008.
    The government's emphasis on early childhood development is reflected in parents who, unlike in 2008, should have the choice to take care of their children. preschool children, rather than being able to afford a maternal badistant
  • Technology is becoming more and more important in everyday life. People are spending less today on technology and are more connected than they were ten years ago.
    Broadband, a laptop and a basic smartphone, now costs £ 8 a week for a working-age person, compared to £ 9.50 for a payphone and a pay-as-you-go mobile in 2008, despite an inflation of 25 percent.

Only 15 percent of San Francisco County residents could afford a median-priced home in the first quarter of 2018, according to a separate report. In 1965, the number of new and resale homes sold for $ 800,000 or more in the Bay Area increased by 21.1% from one year to the next, making it the largest residential area in Canada. one of the most expensive markets in the United States.

To compare to the UK, the Joseph Rowntree Foundation (JSF) estimates that a couple with two children must earn at least £ 40,000 a year to achieve a decent standard of living.

The minimum income standard set by the foundation is based on public comments on what he thinks It takes clothes and food, but also Christmas gifts and holidays. week in the UK.

A single person must earn £ 18,400 a year today to achieve a decent standard of living.

standard of living, according to the foundation.

Every parent in a couple of two children must earn £ 20,000. equivalent to £ 40,000 For a family of four

Sometimes it's almost impossible to save until the end of the month, let alone save for anything to save


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But there are ways to make it work without having to land a second employment. Here is our guide on how to save over £ 10,000 a year.

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