While the Deep South is riddled with states in which your money goes further than in most others when it comes to the spending power of the almighty dollar, there’s one state in particular that stands out.
In the state of Mississippi, your money can buy more goods than in any other state across the nation, according to new research by the Tax Foundation based on data from the Bureau of Economic Analysis which has been measuring how much goods one can buy with the same amount of cash in the different states across the US.
According to the research, the relative value of $100 in the state of Mississippi is $115.21, or $15.21 more than the national average. That means, your money is actually working for you buy goods — at least in comparison to elsewhere in the country.
While Mississippi might very well be the best state to live in such the context of bang for your buck, neighboring Alabama isn’t far off with $114.03 and neither is Arkansas with its $114.29.
Much worse off are states like California and New York which are well below the national average with $89.05 and $86.73 respectively. In fact, the worst off is Washington, D.C., in which $100 only buys you $84.96 worth of goods.
Based on the research, a single Benjamin Franklin, presently the equivalent to 89.64 Euros, has the ability to go much further in the south than in the northeast.
The group behind the study, the Tax Foundation, is a nonpartisan tax research group dedicated to the education of taxpayers on tax policy and burden.
Are you surprised by how much the worth of a c-note varies from state to state, how your purchasing power varies from state to state?