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Ronnie Dunn - Cost Of Livin
Ronnie Dunn - Cost Of Livin'
Published: 2011/07/26
Channel: RonnieDunnVEVO
Jamey Johnson - High Cost of Living - Music Video - Clifton Collins Jr.
Jamey Johnson - High Cost of Living - Music Video - Clifton Collins Jr.
Published: 2010/01/22
Channel: Clifton Collins, Jr.
The TRUE cost of living in NEW YORK CITY
The TRUE cost of living in NEW YORK CITY
Published: 2017/12/10
Channel: Erik Conover
Cost Of Living In America Today Vs. 1980
Cost Of Living In America Today Vs. 1980
Published: 2015/07/20
Channel: AJ+
What
What's the Real Cost of Living?
Published: 2012/02/17
Channel: Wall Street Journal
Jamey Johnson - High Cost of Living
Jamey Johnson - High Cost of Living
Published: 2009/03/11
Channel: timmyovideos
Is the Cost of Living Really Rising?
Is the Cost of Living Really Rising?
Published: 2011/08/17
Channel: Learn Liberty
Reality check: Cost of living
Reality check: Cost of living
Published: 2017/03/29
Channel: Bank of America
COST OF LIVING IN NEW YORK CITY - DAILY
COST OF LIVING IN NEW YORK CITY - DAILY
Published: 2017/09/01
Channel: Tar Mar
Cost of living in Chicago (USA)
Cost of living in Chicago (USA)
Published: 2017/09/04
Channel: costoflivingin
LIVING UNDER $600 IN THAILAND | CHIANG MAI COST OF LIVING GUIDE
LIVING UNDER $600 IN THAILAND | CHIANG MAI COST OF LIVING GUIDE
Published: 2017/02/24
Channel: Chris the Freelancer
the average cost of living in the united states of america 2017
the average cost of living in the united states of america 2017
Published: 2017/03/11
Channel: TopChannel
Apartment Tour // Cost of Living in Mexico!
Apartment Tour // Cost of Living in Mexico!
Published: 2016/08/17
Channel: Travellight
COST OF LIVING in AUSTRALIA | Australia Food Prices
COST OF LIVING in AUSTRALIA | Australia Food Prices
Published: 2017/03/18
Channel: April Tandy
Chiang Mai Thailand - Cost Of Living 4K
Chiang Mai Thailand - Cost Of Living 4K
Published: 2018/01/07
Channel: PassportHeavy
Cost Of Living In Tokyo (MY RENT & EXPENSES)
Cost Of Living In Tokyo (MY RENT & EXPENSES)
Published: 2017/07/29
Channel: Exploring With Steve
Cost of living in Canada - Groceries That We Buy & Prices
Cost of living in Canada - Groceries That We Buy & Prices
Published: 2017/09/20
Channel: Life In Canada
Q&A | What
Q&A | What's the Cost of Living in England?
Published: 2017/09/12
Channel: Adventures and Naps
Cost of living in London. How much does it cost to live in the UK? Student expenses
Cost of living in London. How much does it cost to live in the UK? Student expenses
Published: 2017/03/10
Channel: Fastrack Education
Cost of Living in Mexico: Shopping at Costco...Again // Life in Puerto Vallarta Vlog
Cost of Living in Mexico: Shopping at Costco...Again // Life in Puerto Vallarta Vlog
Published: 2017/07/28
Channel: Kinetic Kennons
Vietnam Cost Of Living: Food (Prices Included)
Vietnam Cost Of Living: Food (Prices Included)
Published: 2017/08/17
Channel: Alex Stevenson
MONTHLY COST OF LIVING IN THE PHILIPPINES 2017 /ANGELES CITY- FAMILY OF THREE
MONTHLY COST OF LIVING IN THE PHILIPPINES 2017 /ANGELES CITY- FAMILY OF THREE
Published: 2017/08/31
Channel: PhillyinthePhilippines
MY COST OF LIVING NOW VS. IN LOS ANGELES | VLOGMAS DAY 4
MY COST OF LIVING NOW VS. IN LOS ANGELES | VLOGMAS DAY 4
Published: 2017/12/06
Channel: livinlikelindsey
The Cost of Living in Mexico
The Cost of Living in Mexico
Published: 2017/12/04
Channel: Expats In Mexico
WHAT IS THE COST OF LIVING IN KOREA? | Korea Vlog
WHAT IS THE COST OF LIVING IN KOREA? | Korea Vlog
Published: 2017/11/14
Channel: April Tandy
The cost of living in Mexico City
The cost of living in Mexico City
Published: 2017/09/05
Channel: Marcello Arrambide
Questions on Chile; Real Estate, Cost of Living, Taxes, Crime
Questions on Chile; Real Estate, Cost of Living, Taxes, Crime
Published: 2017/06/11
Channel: ChileExpatFamily
Cost of living in Hawaii & Job Market 2017
Cost of living in Hawaii & Job Market 2017
Published: 2016/12/29
Channel: JibaJabaJ
Cost of Living in Morocco
Cost of Living in Morocco
Published: 2017/07/10
Channel: Samuel Fisher
Bali Indonesia 4k " Cost of Living "
Bali Indonesia 4k " Cost of Living "
Published: 2017/06/04
Channel: PassportHeavy
The Cost of Living in Namibia: Housing
The Cost of Living in Namibia: Housing
Published: 2015/10/27
Channel: AfroAmericaninAfrica
The True Cost Of Living In Shenzhen China!
The True Cost Of Living In Shenzhen China!
Published: 2017/05/24
Channel: Rocco Brown
Living in Bahrain - Dress Code, Alcohol, Weather, Cost Of Living ETC
Living in Bahrain - Dress Code, Alcohol, Weather, Cost Of Living ETC
Published: 2017/06/14
Channel: Miss Kiedis
Cost of living in China: Cheap!
Cost of living in China: Cheap!
Published: 2016/03/02
Channel: Good Teachers Union
Cost of living in Houston, Texas
Cost of living in Houston, Texas
Published: 2017/04/10
Channel: My life in USA
Cost of Living in SINGAPORE 🇸🇬
Cost of Living in SINGAPORE 🇸🇬
Published: 2017/04/19
Channel: Ihana Pön
Cost of Living in Thailand
Cost of Living in Thailand
Published: 2017/09/26
Channel: Bangkok Bound
THE COST OF LIVING IN SYDNEY AUSTRALIA. It costs HOW MUCH to live in SYDNEY?! Is it expensive?
THE COST OF LIVING IN SYDNEY AUSTRALIA. It costs HOW MUCH to live in SYDNEY?! Is it expensive?
Published: 2016/11/08
Channel: Matthew Simons
Living in Las Vegas: Las Vegas Cost of Living
Living in Las Vegas: Las Vegas Cost of Living
Published: 2014/05/20
Channel: JacobslifeinVegas
Cost of Living in Los Angeles
Cost of Living in Los Angeles
Published: 2016/01/23
Channel: Kyle Trouble
Cost Of Living In Medellin, Colombia " Tourist Guide"
Cost Of Living In Medellin, Colombia " Tourist Guide"
Published: 2016/10/01
Channel: PassportHeavy
Ronnie Dunn Cost Of Living With Lyrics
Ronnie Dunn Cost Of Living With Lyrics
Published: 2011/08/23
Channel: Jdub22722
Measuring the Cost of Living
Measuring the Cost of Living
Published: 2015/09/16
Channel: ageconjon
JC – Vietnam Pt 19 – Hanoi Cost of Living & Final Thoughts
JC – Vietnam Pt 19 – Hanoi Cost of Living & Final Thoughts
Published: 2016/09/26
Channel: retirecheapjc
WHATS THE COST OF LIVING IN GHANA ? ||  Water, Gas, Electricity || ADEDE
WHATS THE COST OF LIVING IN GHANA ? || Water, Gas, Electricity || ADEDE
Published: 2017/03/01
Channel: Adedè
COST OF LIVING IN THE PHILIPPINES; THE REAL COST (June, 2016) - Philippines Expat Vlog #51
COST OF LIVING IN THE PHILIPPINES; THE REAL COST (June, 2016) - Philippines Expat Vlog #51
Published: 2016/07/13
Channel: SezStyle
THE COST OF LIVING MELBOURNE ft Bree moves to Germany
THE COST OF LIVING MELBOURNE ft Bree moves to Germany
Published: 2017/08/31
Channel: Rachel and Nick
COST OF LIVING IN TOKYO, JAPAN.
COST OF LIVING IN TOKYO, JAPAN.
Published: 2017/07/10
Channel: KeiraInTokyo キーラ
🇪🇸🇵🇹 Cost of living Portugal v Spain: Supermarket prices
🇪🇸🇵🇹 Cost of living Portugal v Spain: Supermarket prices
Published: 2017/07/24
Channel: spainspeaks
Living in Spain - Cost of living in Spain
Living in Spain - Cost of living in Spain
Published: 2015/07/20
Channel: spainspeaks
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WIKIPEDIA ARTICLE

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Protests in Aysén due to the high cost of living in Patagonia

Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time are often operationalized in a cost of living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in cost of living between locations can also be measured in terms of purchasing power parity rates.

Cost-of-living adjustment (COLa)[edit]

Employment contracts, pension benefits, and government entitlements such as Social Security can be tied to a cost-of-living index, typically to the consumer price index (CPI). A COLA adjusts salaries based on changes in a cost-of-living index. Salaries are typically adjusted annually. They may also be tied to a cost-of-living index that varies by geographic location if the employee moves. In this later case, the expatriate employee will likely see only the discretionary income part of their salary indexed by a differential CPI between the new and old employment locations, leaving the non-discretionary part of the salary (e.g., mortgage payments, insurance, car payments) unmodified.

Annual escalation clauses in employment contracts can specify retroactive or future percentage increases in worker pay which are not tied to any index. These negotiated increases in pay are colloquially referred to as cost-of-living adjustments or cost-of-living increases because of their similarity to increases tied to externally determined indexes. Cost-of-living allowance is equal to the nominal interest minus the real interest rate.

CPI[edit]

When cost-of-living adjustments, negotiated wage settlements and budgetary increases exceed CPI, media reports frequently compare the two without consideration of the pertinent tax code. However, CPI is based on the retail pricing of a basket of goods and services. Most purchases of that same basket require the use of after-tax dollars—dollars that were often subject to the highest marginal tax rate. Consequently, the COLA will necessarily have to exceed the CPI inflation rate to maintain purchasing power.[citation needed]

The widely recognized problem known as bracket-creep can also occur in countries where the marginal tax brackets themselves are not indexed—COLA increases simply place more dollars into higher tax rate brackets. (Only under a flat tax system would a percentage gain on gross income translate into a comparable inflation-offsetting gain at the after-tax level.)

Some salaries and pensions in the United States with a COLA (they vary by type) include:

Pensions in Canada with a COLA include:

Social Security Benefits[edit]

For 2018, the Social Security Cost of Living Adjustment ("COLA") is 2.0% (a significant increase over the 0.3% figure used for 2017). The maximum Supplemental Security Income ("SSI") benefit will go from $735 to $750, while the maximum SSI payment for a couple will go from $1,103 to $1,125. The estimated average monthly benefit for a disabled person will increase from $1,173 to $1,197.  The estimated average monthly benefit for a retired person will increase from $1,377 to $1,404. The presumptive Substantial Gainful Activity (“SGA”) threshold will increase from $1,170 to $1,180 for non-blind individuals, but from $1,950 to $1,970 for blind individuals.  The Trial Work Period (“TWP”) monthly amount will increase from $840 to $850.  The amount of earnings needed for a worker to obtain a “quarter of coverage” or “credit” will increase from $1,300 to $1,320.  Maximum taxable earnings under the Social Security OASDI program will go from $127,200 to $128,700.[2]

Worldwide Cost of Living Survey[edit]

The Economist Intelligence Unit produces a semi-annual (twice yearly) worldwide cost of living survey that compares more than 400 individual prices across 160 products and services. They include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

The survey itself is an internet tool designed to calculate cost-of-living allowances and build compensation packages for corporate executives maintaining a western lifestyle. The survey incorporates easy-to-understand comparative cost of living indices between cities. The survey allows city-to-city comparisons, but for the purpose of this report all cities are compared to a base city of New York City, which has an index set at 100. The survey has been carried out for more than 30 years.

The most recent survey was published in March 2017. Singapore remains the most expensive city in the world for the fourth year running, in a rare occurrence where the entire top five most expensive cities were unchanged from the year prior.[3] Sydney and Melbourne have both cemented their positions as top-ten staples, with Sydney becoming the fifth most expensive, and Melbourne becoming the sixth. Asia is home to more than five most expensive cities in the top twenty but also home to eight cheapest cities of the cheapest ten.

Other uses[edit]

Stipends or extra pay provided to employees who are being temporarily relocated may also be called cost-of-living adjustments or cost-of-living allowances. Such adjustments are intended to offset changes in welfare due to geographic differences in the cost of living. Such adjustments might more accurately be described as a per diem allowance or tied to a specific item, as with housing allowances. Employees who are being permanently relocated are less likely to receive such allowances, but may receive a base salary adjustment to reflect local market conditions.

A cost-of-living allowance is frequently given to members of the U.S. military stationed at overseas bases if the area to which a service member is assigned has a higher cost of living than the average area in the United States. For example, service members stationed in Japan receive a cost of living allowance of between $300 and $700 per month (depending on pay grade, years of service, and number of dependents), in addition to their base pay. This additional pay is non-taxable.

See also[edit]

Specific:

References[edit]

  1. ^ a b Flanagan, Tammy (2006-09-08). "COLA Wars". National Journal Group. Retrieved 2008-09-23. 
  2. ^ "Social Security Benefits to Increase in 2018 | Social Security Matters". blog.socialsecurity.gov. Retrieved 2018-01-15. 
  3. ^ "Singapore Maintains Top Spot as World's Costliest City". Bloomberg. 2015-03-03. 

External links[edit]

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