You Won’t Believe The Salary Needed To Survive As A Single Person In Louisiana!

Without a doubt, the economy is still in rough shape, and there is no indication that things will get any better very soon.

The persistently high cost of groceries, a slowly expanding GDP, and inflation that is gradually rising are all contributing to Americans' anxiety. As a result of having fewer savings than before, more people are turning to credit card debt in order to pay for necessities.

Fortunately, living in Louisiana is not the most costly place in the nation. We have a cheaper cost of living than most areas and don't have to live in big, expensive cities.

That begs an intriguing question: In Louisiana, what is the minimum income required to survive? You may be shocked by the amount of money required to cover all of your demands if you're a single individual. Working for what we refer to as a "living wage" in adulthood will undoubtedly need you to put in some effort.

What is a "Living Wage"
The minimum income required for a worker to support themselves and their family, satisfy their basic necessities, and maintain a respectable level of living is known as a livable wage. The minimum salary, which is frequently determined by governments and could not always be enough to meet living expenses, is not the same as a living wage.

Making sure that people and families can afford necessities like housing, food, healthcare, transportation, and education is the goal of a livable wage. It varies from one place to another and considers things like local living expenses. The purpose of a livable wage is to shield workers from poverty and to offer financial stability.

In addition to helping individual workers and their families, proponents of a living wage contend that by lowering poverty and income disparity, it also advances a more stable and just society. On the other hand, detractors frequently voice worries about possible detrimental impacts on companies, especially small ones that could have to pay more for labor.

Discussions and initiatives in favor of a living wage have gained traction in many areas, changing minimum wage legislation and drawing attention to the larger problem of income disparity.

GoBankingRates.com set out to determine the minimum income required in each state for an individual to survive. Their experts computed the annual cost of needs using the most recent Consumer Expenditure Survey data available for an individual from the Bureau of Labor Statistics.

The minimum living wage in Louisiana is the seventeenth highest in the country; an individual must earn at least $50,087 annually to make ends meet.

Lowest Minimum Living Wages in the U.S.

1             Mississippi          $45,906

2             Oklahoma           $46,024

3             Alabama              $46,577

4             Arkansas              $47,111

5             Kentucky             $47,318

6             Kansas                $47,379

7             West Virginia        $47,732

8             Missouri               $47,771

9             Iowa                    $48,518

10           Tennessee           $48,774

Hawaii has the highest minimum living income, at $112,411 per year, which is sufficient to cover all of your essential expenses.