Question of the Day: Which U.S. state has the highest real value of $100?
Think $100 buys the same amount of stuff from state to state? Get real!
Answer: Mississippi ($115.34)
Questions:
- What does it mean when we say that $100 has a different "real value" in different states?
- How might the cost of living affect people's lifestyle choices in states where the real value of $100 is higher versus lower?
- Discuss how the real value of money might influence where you would choose to live after graduation.
Behind the Numbers (Go Banking Rates):
"It’s no secret that a $100 bill can be stretched much further in some states than others. Most people know you’ll get a lot more for your money in Mississippi than inHawaii, but you might not realize just how much of a divide there can be between different states.
To determine how far $100 will go in every state, GOBankingRates compiled data from the U.S. Bureau of Economic Affairs and also analyzed supplemental factors such as median household income, typical home values and annual cost-of-living expenditures to provide deeper insights into why $100 is worth more in some states than others."
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NGPF's Budgeting unit will get your students thinking about the best ways to manage their spending.
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About the Author
Ryan Wood
Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.
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