How Far Does Your Dollar Go in New York?
We all worry about money. It's a universal phenomenon. If you don't have it, you're worried about getting it. If you have a little, you're worried about making more, just to be safe. If you have a lot of it, you're worried about losing it.
But New Yorkers, at least in my experience, seem to be among the most concerned about getting their money's worth. I've traveled a fair amount and I've never met a group of people who are more preoccupied with getting the best deal possible than those get in my home state. This isn't in any way a negative thing; Lord knows I'm in that camp, too. But I was curious about how much we're actually getting for our dollar compared to other states.
The New York Times has an interesting piece right now about what $100 can actually buy you, state-by-state. And I have to say... well, it's not great for us here in New York.
The “real value” of a dollar is highest in Mississippi, Arkansas ($114.30), Alabama ($113.90), South Dakota ($113.60) and Kentucky ($112.70). It buys the least in the District of Columbia ($84.70), Hawaii, New York ($86.40), New Jersey ($87.30), California ($89) and Maryland ($90.70)
What does this mean for you? Well, $100 only buys you $86.40 worth of goods at the national-average price. As you can see, that same $100 gets you $114.30 elsewhere in the country.
So, in conclusion, the only state where $100 has less buying value than New York is Hawaii. Meanwhile, in Mississippi, $100 goes the furthest.
As a frugal, money-paranoid person: I don't know much about Mississippi, but I guess I could learn.