It costs money to live the lives we want to live. This is why we all need to find a job that provides a steady paycheck. This paycheck pays for housing, transportation, childcare, food, taxes, utilities, recreation, and other odds and ends. With a proper budget in place, your dollar can go a long way. But how far it will go depends on where you live. It’s important to realize that the cost of living varies based on your location.
The cost of living accounts for the price of goods and services in a specific area. We all grow accustomed to a certain standard of living based on our paycheck and our location. The amount of money we need to maintain the same lifestyle will differ between different cities, states, and countries. The cost of living is an important, but often overlooked, thing to consider during the job search.
Here’s a simple example… it’s more expensive to live in San Francisco, California than it is to live in rural Arkansas. This means that if you earned the same amount of income in both places, you’re standard of living would be higher in rural Arkansas because your dollar will go farther. Does that make sense?
Understanding this fact is valuable during the job search. Knowing what the cost of living is in different locations can help you to negotiate a fair salary so that you are paid what you deserve. A six figure salary in a big city might not really be that much once you factor in the essentials (housing, transportation, food, taxes, etc.), but in a small town you might be able to live like a rock star on the same salary.
As a job seeker, you need to research the cost of living in the places where you are searching for jobs. Take the time to compare the cost of living between different locations using Cost Of Living calculators on websites like CNN Money or Bankrate.com.
During the job search, always think about the cost of living before you accept a job offer or consider relocating. Use cost of living to help you find the best job for you in the best place possible. Best of luck!