Give your students a glimpse at what it looks like financially for a two-parent, two-child family to live in different counties across the country.
The cost of living is a crucial factor to consider when doing any kind of financial planning, especially when the numbers can be drastically different depending on what area you’re considering living in. This interactive map from the Economic Policy Institute lets you analyze the cost of living, broken down into different categories, across all of the counties in the United States.
Questions:
- Look at the monthly costs for different necessities. How would you prioritize these expenses if you had a limited budget?
- Compare the cost of living in a rural county like Polk County, WI, to a more urban area like New York City. What are some factors that might account for the differences in cost of living between the two regions?
- Based on the total yearly cost of living in a county you’d be interested in living in, what would be a reasonable salary to aim for in order to live comfortably?
- Discuss how lifestyle choices, such as the size of one’s family, can impact the cost of living. How might personal values and life goals affect these choices?
- Considering the cost of living, how does this influence your plans for higher education and career choices?
- How much money do you think you should aim to save for emergencies based on the monthly cost of living in your area?
- Why is it important to include health care in your financial planning, even at a young age?
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Looking for more interactive resources? Be sure to check out the NGPF Interactive Library.
About
the Author
Ryan Wood
Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.
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