Here’s How Much You Need To Earn To Live In Maryland

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Moving to Maryland can be a great idea. There are some excellent places there where you and your family will be able to thrive. But, before you start organizing your relocation and calling up movers, you better learn how much it costs to actually live in Maryland. So, bring out your math skills and let’s see what living in Maryland will cost you.

Cost of living in Maryland

Maryland is not a terribly cheap place to live in. Since it is above the US average by a substantial margin, you can expect to pay quite a lot for living in some places. But, as it is with every state, there are differences from place to place in the cost of living. Life in big cities like Baltimore and Annapolis is substantially more costly than living in smaller, more rural areas. This is why you can visit sites like mastermovingguide.com to get a true estimate on what moving to Maryland will cost. While getting a living estimate can be considerably more tricky. But, don’t worry. We are here to give you a helping hand.

Using credit card for online shopping
If you want to save money avoid using credit cards or buying online

Utilities and transportation

In order
to live in Maryland, you will have to pay about $223 for utilities.
This, of course, can vary depending on how much water and electricity you use.
But, this should be a rough estimate of what to expect. A monthly pass for
public transport in Maryland will cost you $72
. If you decide to drive a
car in Maryland, that will cost you substantially more then the $72. So, we
advise you to postpone driving your car, if you can, until you’ve grown
accustomed to living in Maryland.

Daily expenses

For food,
drinks and going out you will need around $600 per month. Now, this
expense can vary a lot since it is financially quite different to cook your own
food and go out once every two weeks, and to eat in restaurants and go out
every night. Our estimate is for a person that is new to Maryland and that is
not yet financially comfortable. This means that you won’t be eating prime rib
and drinking Don Perignon for lunch. But, you will be able to have a healthy
diet and go out for a dring with your friends once in a while. 

Housing

A 1 bedroom apartment in the city center of Baltimore will cost you around $1,352 per month. Meanwhile, renting an apartment outside of the city center will cost you around $1055 a month. That is almost $300 just for living in different areas of Baltimore. So, if you consider other areas where you can live in Maryland, you can understand why it is hard to put a specific price on rent. On the other hand, if you plan on getting a loan and buying an apartment, you should expect to pay between $2203 and $1231 per square meter.

Lifestyle costs

Now, add to all of that your everyday, lifestyle costs. Things like clothes, books, electronics, moving tickets, video games, etc. As you might guess, these can vary wildly depending on the lifestyle that you plan to live in Maryland. But, as we are trying to come up with a final number for this analysis, let us say that you will spend around $500 monthly of such expenses. These $500 should provide you enough money for a regular life with an occasional splurge.

A person shopping
Shopping costs can substantially vary from person to person

All of that totals to $2450. So, to live a normal lifestyle as a single person
in Maryland you will need around $2500 every month. Now, if this sounds like a
lot, there are ways in which you can save some money.

Clever ways to save money when you live in Maryland

Since we
use our phones in everyday life there are some clever ways in which they can
help us save money. How? Simple. People spend a surprising amount of money
without even realizing it
. A small purchase here and a small purchase there
can easily pile up without you noticing. That is where a phone can really help
you out.

Automate savings

If you plan on saving your money for something, a good idea is to automate your savings. You can work out a plan with your bank and have them put a certain amount of money in you saving each month. Consider consulting a financial planner in order to figure out how your saving will work and what is realistic to expect.

Track spending

Installing
a phone app to help you track your spending can be quite an insightful experience.
If you carefully keep track of what you spend your money each month you
will be surprised at how much money you waste. An app will force you to take
a close look at your life
and see how much money you actually need.

Pay in cash

Avoid paying online. It has been proved time and time again that paying in cash is the best way to get the feeling that you are actually paying for something. When you pay online or you pay with your credit card you have no feeling of paying. This is exactly the reason why casinos give you chips and don’t allow you to play games with real money. The less connection you have with hard cash, the easier it is to spend.

Using credit card for online shopping
If you want to save money avoid using credit cards or buying online

Cheap moving

Once you’ve lived in Maryland for a while you will figure out how to make ends meet. But, in the first couple of months, you might be struggling with unexpected expenses and surprisingly high costs. Therefore, you should try to save money on moving in order to have as much as possible for your early life in Maryland. The best thing to do is to find reliable movers to help you and give them as much time as possible to deal with your relocation. That way you will not only make your relocation cheap, but you will avoid moving problems with ease. Remember, the better you prepare, the less money you will spend.

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