Where Your Paycheck Goes Furthest in New Jersey
Your paycheck will go further in certain New Jersey counties.
SmartAsset.com finds the most, "paycheck-friendly" counties in New Jersey were located in north Jersey -- with a few in central Jersey.
AJ Smith, vice president of financial education for the site, says it's important for people in New Jersey to compare job offers if they are based in different parts of the state.
"Where you live is going to affect how far that money is going to go," Smith said. She describes her company as a financial technology company working to empower people to make smarter financial decisions . "We want to get people thinking and talking about these decisions that impact their personal finances. Certainly where you live can impact a lot about your personal finances. It can impact your the taxes you pay."
Only Burlington and Gloucester counties were listed as paycheck-friendly in South Jersey. The most paycheck-friendly county in the state was Morris County, followed by Hunterdon, Somerset, Monmouth, Bergen, Sussex, Burlington, Gloucester, Warren and Middlesex counties, according to SmartAsset's tally.
According to the company, paycheck-friendly places are those "with favorable economic conditions where you get to keep more of the money you make."
It calculated a typical monthly paycheck for an individual making $50,000 per year -- accounting for deductions, exemptions and withholdings. It weighed that against purchasing power for each county, unemployment rates and income growth.
"You're going to get a different amount based on... different taxes that are taken out of your payroll, and it's going to go further in places where there's a lower cost of living," Smith said.