Single People In Idaho Need To Make This To Have A Quality Life

If you're like me, the rising cost of living has probably caught your attention. Who hasn't had that moment at the grocery store where you do a double-take at the price of a gallon of milk? It's not just your imagination because the cost of basic necessities is rising nationwide.

Current Minimum Wage in Idaho

As of now, Idaho workers earn a minimum wage of $7.25 per hour, which is in line with the federal minimum wage. That adds up to $15,080 per year for a full-time worker. If you're like me, you're probably pondering: Is that enough to live comfortably in Idaho?

Ever wondered just how much you need to make ends meet in your state? You and me both, my friend. Recently, I came across this fascinating article from GoBankingRates that lays it all out for us. They've done all the number crunching, pulling data from the Bureau of Labor Statistics and the Missouri Economic Research and Information Center. The results? A state-by-state breakdown of what a single person needs to earn a decent life.

Difference between Minimum Wage and Living Wage

So, what exactly is a living wage? Simply put, it's the minimum income necessary for a worker to meet their basic needs, including housing, food, healthcare, and a reasonable allowance for unexpected events.

If we analyze the current minimum wage against the cost of living in Idaho, there's an evident gap. Studies show the living wage for a single adult in Idaho is $14.09 per hour— nearly double the current minimum wage.

How much do you need to make in Idaho to get by as a single person?

Idaho has the 17th highest salary at $58,634.

If we analyze the current minimum wage against the cost of living in Idaho, there's an evident gap. Studies show the living wage for a single adult in Idaho is $14.09 per hour— nearly double the current minimum wage.

I hope you're not too shocked reading this. It's a reality check, isn't it? But hey, knowledge is power. Understanding these financial challenges can help us make more informed life decisions.