Can You Afford to Move to a New City?

03.15.07 | Money | 0 Comments | by junger

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We've talked about moving in the past year, but not really known how far our dollar would go in a new city.

Living in Boston, everything is expensive. We know that. And we know that moving to a smaller town or less metropolitan area would bring down our cost of living, but presumably our salaries would also decrease.

There's a neat tool online provided by CNN Money called the "Cost of Living Calculator" that translates your current salary from your current city to a comparable lifestyle in a different city.

Using data provided by researchers at ACCRA, Inc., we compare key expenses in dozens of major cities. Costs include housing, utilities, transportation and health care.

So if we ever pick up and move to Phoenix (one city I would move to in a heartbeat), I'd only need to make about 70% of my current salary.

Give it a whirl.

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