noun
the amount of money needed to sustain a certain standard of living by affording basic expenses such as housing, food, healthcare, and transportation
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The cost of living in urban areas tends to be higher due to the demand for housing and amenities.
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I'm considering moving to a smaller town to reduce my cost of living.
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Living in the city is so expensive, the cost of living is through the roof!
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The cost of living in this fast-paced world is not just measured in money, but also in time and stress.