These savings can only come after the cost-of-living overhead. It's important to note that average salary does not scale 1:1 with cost of living.
Depending on your finances, a 20% bump in pay with a 40% increase in cost of living may lower your discretionary income.
For some, this is offset because overhead does not scale 1:1 with salary: living in a high-cost area provides a greater discretionary income advantage to those with high incomes than for those with modest incomes.
Depending on your finances, a 20% bump in pay with a 40% increase in cost of living may lower your discretionary income.
For some, this is offset because overhead does not scale 1:1 with salary: living in a high-cost area provides a greater discretionary income advantage to those with high incomes than for those with modest incomes.