The Salary a Family Needs For Basic Survival in Arkansas & Texas

How much money do you think the average family of four needs to just get by? Times are tough and prices are high. A recent study took a look at the minimum amount of money annually a family needs for basic survival.

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Cnbc.com posted a list of the basic baseline of annual income needed in every state for a family of four. Basic is the keyword here. They looked at housing costs, healthcare, childcare costs, taxes and other common needs like transportation. This study did not include entertainment or travel of any kind. Yikes.

The Top 5 Most Expensive States to Live on Basic Survival Income with a Family of 4 are:

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Massachusetts you'll need an income of $150,578
Hawaii an income of $147,319
Connecticut an income of $139,924
New York you'll need an income of $139,504
California an income of $138,357

Of course, the amount of money needed depends on where you live so we looked at Texas and Arkansas.

Texas: The Amount of Money Needed for Basic Survival For a Family of Four

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An annual income of $100,689 is needed.

Single parents would need this bare minimum a year:

1 Adult, 1 Child: $73,609
1 Adult, 2 Children: $90,695

Arkansas: The Amount of Money Needed for Basic Survival For a Family of Four

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A family of four needs an annual income of $90,394

Single parent? This is your bare minimum:

1 Adult, 1 Child: $65,274
1 Adult, 2 Children: $80,024

Remember these yearly salary numbers do not include entertainment or travel for vacations. How do you fair in the mix?

If you would like even more of a breakdown like, if you are a single parent with 3 children or if you are a couple and have more than 2 kids, you can see the annual salary you would need for basic survival at Smartassets.com