Posted by: Bennedict August 26, 2022
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I may be ignorant in many areas, I don't deny. I am just writing some simple logic that I understand. I have never been to Texas, so I do not know how is the living cost and other expenses out there. The only thing I do sometimes is to check the minimum wage in different states. So this is what I found by simple googling.
Minimum wage in MA in 2022:- $14.25 per hour
Minimum wage in Texas in 2022:- $7.25 per hour
I understand the minimum wage says something about the living cost and other expenses in places like Texas and MA itself, right?
So if somebody is making $150,000 per year in MA and if somebody is making the same in Texas, what can we infer? It is a great amount of money in MA already. But in Texas, it should be the sure shot way to live the coveted American dream right? I don't understand how people come here and still say with $300,000 yearly the combined income, they still are facing hard time to save?
Am I missing something? Please somebody explain. Kindly. I feel I am lost here.