From time to time, I find a really great calculator that I just have to share. The Cost of Living Wizard is one such calculator. What’s better than being cool? Well, being easy to use of course!
All you need to know is your total income for the year, the state and city you live in, and the state and city you work in. As well as a state/city to compare the cost of living to!
I wanted to know how much the Cost of Living was in Toledo compared to my hometown of Lorain. I put in my salary, chose my state and city for the first two fields, and then chose Ohio, Lorain, for the last two fields. Then click Calculate.
The Wizard calculates, and tells me that employers pay -1.0 less in Lorain, and that cost of living there is +5.7 higher in Lorain. The cost of living being higher surprised me since I live in a bigger city.
You can also find out if employers in your new town will pay you as much to do your job. Underneath the calculations are two more fields find out if you’re worth your salary in the new city, as well as how much people get paid to do your job there.
This is a handy tool if you’re planning to move to a new job market, or just move to a new state – let’s you know how expensive it will be to live there. It tells you the minimum that you’d need to make to continue your current living costs.
Very, very useful!