Livin’ the American Dream in Maine? Here’s What That Actually Costs

You've heard it many times throughout your life, and you've likely used the phrase when someone asks you how things are going. The response is commonly, "Oh you know, livin' the dream!"

Well, according to GoBankingRates, the definition of the true American Dream is quite expensive, and they did a breakdown, state-by-state, of what it actually costs to live it.

The data that they used was based on a married couple with two children. On top of that came the general costs of living, such as mortgage and car payments, along with pet care costs and the usual expenses (ie healthcare, utility, and grocery costs).

They broke it down by the American Dream and True American Dream. The difference between the two is that if you're living the American Dream, your total household income represents 100% of your annual costs. To determine those living the True American Dream, those numbers are doubled to reflect 30% discretionary spending (or the term I use often, disposable income), with the other 20% going towards savings.

As most of us know, living the "True American Dream" is not easy, and it's difficult to build savings accounts. Many are living paycheck-to-paycheck and New England appears to be feeling the pinch. According to GoBaningRates, Maine is ranked #20 most expensive.

We could be in much worse shape. Our neighbors in Massachusetts ranked at #3, and New Hampshire ranked at #6.

With all of the data used to compile this list, the results are broken down and produced some pretty interesting data, only further proving that the cost of living is increasing faster than our yearly income. You can see the full list here.