STATEN ISLAND, N.Y. — Inflation is cooling, but not everyone is experiencing its effects, especially those who are raising children in the current economic conditions.
This is because a decline in inflation doesn’t necessarily translate to lower prices; rather, it indicates that prices are rising more slowly, according to the Federal Reserve’s definition.
WalletHub, a personal finance website, released its report on 2024′s Best & Worst States to Raise a Family this week to help people determine the best states in which to put down family roots.
The study compared the 50 states across a number of key indicators of family-friendliness, including affordability, socio economics, family fun, health and safety, education and child care.
“It’s crucial to consider economic factors when deciding where to raise a family, like the job market, average income and housing costs. It’s also important to look beyond dollars and cents, as things like low-quality schools, a bad health-care system, natural disasters, or a high crime rate can turn the already-stressful process of parenting into a nightmare,” said Cassandra Happe, WalletHub analyst.
New York ranked fifth place for best states for families due to its family fun and affordability factors, according to the study.
Here are the top 10 states to raise a family, according to Wallethub:
1. Massachusetts
2. North Dakota
3. Minnesota
4. Nebraska
5. New York
6. Maine
7. New Hampshire
8. South Dakota
9. Rhode Island
10. Vermont
Wallethub shared the following five tips for finding the best states to raise a family:
1. Visit the states you are considering and spend time indifferent cities and neighborhoods to get a feel for the community.
2. Focus on the essential factors that you prioritize first.
3. Live somewhere good for children’s recreation — considering things like attractions, playgrounds, parks and other places where you can make memories.
4. Talk to other parents.
5. Look at data for things like unemployment rates, job…
Read the full article here
Leave a Reply