budgeting, Money Saving Tips

The Cheapest States to Live and Work In 2020

Want to save money? Why not move states and live cheaper? Guest post by Wendy Dessler

Live and Work at your personal Optimum

The top ten states in terms of cost-effectiveness in America as of 2019, according to HomeSnacks.net, were Mississippi, Arkansas, West Virginia, Tennessee, South Dakota, Alabama, Kentucky, Ohio, South Carolina, and Indiana—in that order.

However, in contrast, for jobs, Zippia.com reports the best states for working are Iowa, Minnesota, Virginia, Nebraska, Oklahoma, South Dakota, Missouri, New Hampshire, North Carolina, and Georgia—also in that order.

The cross-over here is South Dakota—though given North Carolina’s proximity to South Carolina, it’s conceivable you might live on the border of the one state, and work in the other. Whichever works best for you will be that which decides your strategy.

Here’s the thing: the cheapest state may not be the cheapest state just because prices are lower than everywhere else. Where are you going to work in Mississippi? Where are you going to work in Arkansas? The gas station?

Want to save money? Why not move states and live cheaper? Guest post by Wendy Dossler
Image by jamescheney82 from Pixabay

Balance and Finding it 

There is a balance between locales where there is work, and locales where there isn’t. 

However, that balance may be weighted in an interesting way. That is to say: what separates one state from another for you could come down to something as simple as a utility bill—and if that’s the case, check out this chart of basic electricity rates by state.

However, in 2019 and into 2020, there’s an excellent way to “have your cake” and “eat it, too”.

Invest in a laptop and become a digital nomad.

Digital nomads make their living independent of location through the internet. It’s less difficult than you may imagine. Day-trading, content writing, video logs that gain popularity, or downright entertaining videos can do the trick.

Create Content while travelling

Many millennials today make money by simply travelling places and making engaging videos during their trek.

 They’ll get paid by a hotel company that installs tiny homes in places like the Swiss Alps to come out, do a review of the premises, and post it on their channel. This is only possible once a given channel hits a certain threshold of viewers; but many make their living this way.

The key is learning how to acquire regular income that isn’t dependent on location. You don’t necessarily have to do so strictly by the internet, either.

Live entertainers often pursue nomadic lifestyles owing to a number of factors, keeping a home base in a cost-effective locality.

Want to save money? Why not move states and live cheaper? Guest post by Wendy Dossler

mineapolis downtown

Image by skeeze from Pixabay

Work with what you have from where you are

Not everyone has such a luxury, but the good news is that if you’re willing to put in the time, you can easily pull down $2k or $3k a month without having to work a forty hour week through almost any of the methods mentioned here.

It may take you half a year or so to find your momentum, but once you can keep a regular $2k a month in your account, then you can move to the cheapest state feasible and start building equity.

Mississippi

In Mississippi, you can buy a house for super cheap—or get land and build a tiny home there for just a few thousand dollars. Amazon has kits starting at $5k on up to $20k for tiny homes. You can find land for less than $30k; for under $50k you could own your own home. That’s cheaper than most college degrees!

Making your plans come together 

The way to see your plans come to fruition here is to use information like that presented in this writing to help plot a forward trajectory through 2019 and into 2020.

The states where better work is may not be that way forever—they could remain so, but in all likelihood, some jobs will dry up after a few years. Jumping now may be wise. It will differ per individual. 

Today's informative post comes from Wendy Dessler. 

Many thanks Wendy for your take on this today. 

You can find Wendy's blog, blogfrog here. It's a fab site that connects you with great independent bloggers, that are authentic in their niches. I'm so excited to be featured in the finance niche! 

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