The cost of living is the amount of money a person needs to spend on housing, food, transportation, clothing, and other items that they need to live.
The cost of living isn't an exact amount of money, and doesn't mean that's all the money a person needs to live. Rather it is a term that refers to the amount of money you spend for the basic requirements of daily life.
The cost of living can go up and down based on the conditions in the economy, and depending on where you live. Living in a city typically costs more than living in rural areas, for instance.
Learn all this and more in Cost of Living.
Related collections and offers
Table of Contents
What Do You Need to Live 8
How Much Does it Cost to Live? 10
Out On Your Own 12
The Cost of Having a Place to Live 14
The Cost of Eating 18
The Cost of Wearing Clothes 22
The Cost of Getting Places 26
Taking Care of Yourself 30
The Cost of Having a Good Time 34
The Cost of Communicating with Others 38
What Other Costs Are There in Life? 40
Why Does the Cost of Living Go Up? 42
What Is Inflation? 44
The History of Inflation 46
What Is the Consumer Price Index? 48
Differences in the Cost of Living 50
How Does the Government Get Involved? 52
What Does It All Mean to You? 54
Here's What You Need to Remember 57
Words You Need to Know 58
Further Reading 60
Find Out More on the Internet 61
Photo Credits 63
About the Author and Consultant 64