How Much Do You Really Need To Make To Live Comfortably In Maine?
Even though it seems like the battle over cost of living versus the average salary is something that we have only been dealing with for a few decades, it is really a problem that has been going on since at least the early 1900s. Probably much farther back than that.
According to the Department of Labor, the first national minimum wage went into effect in 1938. Back then, it was 25 cents per hour. The whole point was to make sure that employees were not being taken advantage of by their employers.
Since then, the government has made periodic increases to the national minimum wage. On top of that, some states and municipalities have implemented their own minimum wages.
Despite these increases in the national minimum wage, it always seems to be a topic of conversation. And, of course, the crazy amounts of inflation we've been dealing with since early 2021 have made it an even bigger issue in recent years.
How Much Do You Need To Make To Live In Maine?
Not that we recommend doing this, but you if polled your friends and family about how much they make, you'd probably get a wide variety of answers. Anywhere from about $25,000 to well over $100,000.
Clearly, the more money you make on an annual basis, the more comfortable your life is. Better housing, better food, more reliable vehicles, etc.
But, how much does it take to live comfortably in the State of Maine?
According to Go Banking Rates, a single person in Maine needs to make about $60,100 in order to live comfortably. That means that your rent (or mortgage) is covered, you have electricity / water, you have a phone, have the internet, are eating good food, and you have a reliable vehicle. And, of course, you have some cash left over to have some fun.
How does that compare with other New England states? In New Hampshire, that figure is $62,935. It is about $66,000 in Vermont and it is about $88,000 in Massachusetts.
Thanks to our friends at NJ 101.5 for the idea for this post.