Here’s What $100 Is Worth In New Jersey
When is $100 not $100? Well, according to a recent report, when you live in New Jersey.
Just having gotten back from traveling in Canada, I got to enjoy a pretty nice exchange rate between the US dollar and the Canadian dollar, with $1 American dollar being worth about $1.26 in Canadian currency.
So, say I was buying dinner at a cost of $50 for two people, it would only cost me about $39 after converting from CAD to USD.
But, don't get too excited just yet, my fellow New Jerseyans.
The theoretical exchange rate within our own borders isn't quite as generous for us. In fact, it's pretty bad.
The nonprofit Tax Foundation recently published a study to see how far $100 would get you in each of the 50 states and Washington, DC.
They took into account the differences in the actual costs of goods across the country, and came up with a handy chart from there.
A trio of deep south states leads the way, with Mississippi ($116.01), Alabama ($115.21), and Arkansas ($114.42) offering the biggest bang for your Benjamins.
But Southern New England and the Northeast are pretty brutal for people holding onto a hundred, with Massachusetts, Connecticut, and Maryland all bringing back a return under $94.
So where do we score?
Only three other states and the District of Columbia offer less value for your money than the Garden State does, with New Jersey bringing back only $88.18 worth.
So who is worse than us?
Only California, New York, DC, and Hawaii (with its expensive cost of living due to its far offshore location) get you less value for your money.
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