Many Rhode Islanders live paycheck to paycheck

PROVIDENCE – Rhode Island is one of the top states where people are likely to live paycheck to paycheck, according to GOBankingRates.com.

It ranks eighth on the list of the top 10 states. GOBankingRates.com said that in the Ocean State, a “relatively high percentage” of the median paycheck is spent on housing – 29 percent, and transportation – 20 percent.

“The smallest state in the nation also is one of the most expensive,” the financial website said.

Hawaii ranked first on the list. Massachusetts and Connecticut also made the top 10, at ninth and 10th, respectively.

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Minnesota is the No. 1 state where people are least likely to live paycheck to paycheck due to its relatively high median household income – sixth in the country – and low cost of living. •

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