Study: The value of $100 has plummeted in some states — is it yours? Here’s how to get the most out of your money

Study: The value of $100 has plummeted in some states — is it yours? Here’s how to get the most out of your money

Your $100 may not go as far as it used to if you live in these key states -- but there are steps you can take to change that.

A recent study by the Tax Foundation found that $100 will get you a lot or a little — it all depends on where you live in the country. If you’re in the District of Columbia, your dollars go the shortest, with $100 buying you $84.96 worth of goods compared to the national average, and your money goes the farthest in Mississippi, where $100 gets you $115.21 worth of items.

Not surprisingly, economically depressed areas like the Deep South, the Rust Belt, and the Midwest tended to have the lowest cost of living, whereas the Northeast and West Coast tended to have the highest cost of living. If you live in the latter, what can you do about the fact that your money doesn’t go very far? As it turns out, quite a bit.

If you want to drive out costs, the fastest way to do that is through your grocery budget, which can fluctuate quite a bit depending on your habits, unlike more fixed bills like rent and phone bills.

You can save money by simply eating less. This has the added benefit of also allowing you to live healthier, as consuming fewer calories lowers your risk of obesity. Studies have found that most Americans admit that they eat more than they should.

A second way is to avoid the expensive brand names and settle for generic. This gets your more nutrition per dollar. Many people swear by some brands, but oftentimes there is not much difference in quality between a name brand and a generic band. It will require some planning and some self-control to take this method, but it can be done.

You can also buy in bulk. Head over to retailers like Costco to buy big packs of meat that can be frozen for future meals. Get giant bags of rice that can be a staple of future dishes and won’t go bad. Buy large bags of ground coffee rather than picking up a cup at your local Starbucks every day.

Also, eat out less. Instead of getting Chinese takeout, learn how to make your own entrees, and how to make them delicious to avoid the temptation of expensive takeout food.

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