A new study by GoBankingRates reveals that Generation X incurs the highest living costs in California, averaging $62,591 per month. This figure significantly exceeds the expenditures of other generations. The breakdown includes $24,085 for housing, $12,769 for healthcare, and substantial amounts for groceries, utilities, and transportation. The study highlights a trend of Gen Xers facing rising costs coinciding with income peaks, with 64.2% reporting living paycheck to paycheck, showcasing the financial pressures this demographic is under amidst high living expenses.
Members of Generation X have the highest cost of living in California, spending a total of $62,591 per month, significantly more than other generations.
The data reveals that Gen Xers have entered a stage of life where their incomes - and costs - begin to peak, contributing to financial strain.
On average, Gen Xers spend approximately $24,085 on housing, making it their largest monthly expenditure in California.
Despite their financial challenges, Gen Xers face unique pressures, with 64.2% reporting that they live paycheck to paycheck.
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