How much money do you need to survive?

October 4, 2011

How much income does one need to earn in San Luis Obispo County to be self-sufficient? A lot more than just three years ago, apparently.

A gross salary of about $2,220 a month buys a single person living in this county that self-sufficiency status, according to the results of a study just released by the Oakland-based Insight Center for Community Economic Development.

Insight’s report is hardly encouraging: the cost of living in California has risen by double-digit figures since 2008. A detailed, county-by-county breakdown of income needs also suggests that a single parent with two children in preschool will earn $5,346 monthly to be self-sufficient. A family with one adult and one preschool child needs $4,063, or two teenagers, $5,893. Two adults and a teenager require a minimum income of $3,611.

Authors of the report said their research measured how much is needed by families of different compositions in order to meet “minimal basic needs.” Factors included in the report’s preparation included estimates of costs of housing, food, child care, medical expenses, transportation and other necessary spending.

Taxes, the report found, reflect the biggest jump in cost-of-living hikes for individuals.


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7 Comments

  1. granola_girl says:

    The link goes to the 2008 report. The new 2011 data for SLO is here http://www.insightcced.org/index.php?page=ca-sss

    (0) 0 Total Votes - 0 up - 0 down
  2. sloweb says:

    “Taxes, the report found, reflect the biggest jump in cost-of-living hikes for individuals.”

    OMG, I am shocked! Who would have guessed that?

    (4) 6 Total Votes - 5 up - 1 down
    • r0y says:

      Must be all those evil neo-cons I’ve heard about who have been running this state! Damn them and their pro-government, pro-hand-out, pro-tax agenda!

      We need even MORE rich to pay even MORE than their fair share. They need to pay MY fair share, too!

      (0) 4 Total Votes - 2 up - 2 down
  3. easymoney says:

    “Factors included in the report’s preparation included estimates of costs of housing, food, child care, medical expenses, transportation and other necessary spending.”
    I can say for sure and for certain the it costs more to live here in SLO county now than most other places in the state.
    There are few “head of household” jobs and little to no manufacturing jobs in this county. Those of us who have lived here for decades continue to do so because of the quality of life, not the jobs or low costs. My nut every month is substantial and we live frugally, and in the last three years it has gotten much more expensive, while the economy has plummeted. The costs of fuel alone in this county are outrageous compared to even out in the desert hundreds of miles from anywhere.

    (13) 15 Total Votes - 14 up - 1 down
    • maybe not says:

      So, easymoney, I guess your are saying that the “Money aint so Easy?”

      (8) 8 Total Votes - 8 up - 0 down
      • easymoney says:

        The screen name is an oxmoron…
        And it is never easy, if it were there would be no protests today, no whining about the down economy, no whining about the high employment situation and no attempts at spreading the wealth around…

        (-1) 1 Total Votes - 0 up - 1 down
        • r0y says:

          Actually, money is quite easy: just print it (or digitize it). What is truly difficult is VALUE.

          (1) 3 Total Votes - 2 up - 1 down

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