new york city
Post on 30-Jun-2015
741 Views
Preview:
TRANSCRIPT
NEW YORK CITYCOST OF LIVING
Joe Teresi Christian Scott
General Information/1040 EZGross Income $60,000.00
Federal Income Tax $8,850.00
Social Security/ Medicare Tax $3,390.00
New York City Tax $3,894.80
New York State Tax $5,083.00
Disposable Income $38,182.20 http://www.slideshare.net/joet
eresi/f1040ez
Gross Income $55,000.00
Federal Income Tax $7,600.00
Social Security/ Medicare Tax $3,657.50
New York City Tax $3,430.05
New York State Tax $5,713.50
Disposable Income $34,598.95 http://www.slideshare.net/csco
tt3/1040ez-scott
Housing 450 Madison Ave.
New York City, NY 100221. 2 bedroom
2. 1 bath
3. 745 square feet
$1,705.00 per month $1,705.00 x 12= $20,460.00
per year
Remaining Income Joe Teresi
Disposable Income: $38,182.20
Rent: $10,230.00
Remaining Income: $27,952.20
Christian Scott
Disposable Income: $34,598.98
Rent: $10,230.00
Remaining Income: $24,368.98
Healthcare
Empire Blue Health New York Program
Standard program without prescription drug: $310.73/month
$310.73x12= $3,728.76/year
Remaining Income Joe Teresi
Disposable Income: $27,952.20
Healthcare Cost: $3,728.76
Remaining Income: $24,223.44
Christian Scott
Disposable Income: $24,368.98
Healthcare Cost: $3,728.76
Remaining Income: $20,640.22
Transportation Because of the good public
transportation in New York City neither of us will own a car
We will both be saving anywhere from $5,000-$20,000 in car expenses
We will be using an EasyPay Express Metro Card to buy tickets and pay for fares.
A subway fare is $2.25 per ride and Express bus fare is $5.50 per ride.
Using the subway to work and back will cost $4.50 a day, and on weekends we will need money to go wherever we need, about $5.00
$4.50x5=$22.5+$5x2= $33.50/week $33.50x52= $1742.00/year
Remaining Income Joe Teresi
Disposable Income: $24,223.44
Cost of Transportation:
$1742.00
Remaining Income: $22,481.44
Christian Scott
Disposable Income: $20,640.22
Cost of Transportation: $1742.00
Remaining Income: $18,898.22
Food/Ect. Amount spent on groceries
each week: $150.00 $75.00/week eating out of the
house $150.00 per person/week $150.00x52= $7,800/year VIZIO E420VO 20’ 1080p
LCD HDTV, Black: $498.00 Furniture per person: $300.00 Apartment supplies: $200.00
Remaining Income Joe Teresi
Disposable Income: $22,481.44
Cost of Food/Etc: $8,849.00
Remaining Income: $13,632.44
Christian Scott
Disposable Income: $18,898.22
Cost of Food/Etc: $8,849.00
Remaining Income: $10,049.22
ExtracurricularChristian Scott
1. $1,500.00 for clothes
2. $1,344.86 for a 15 month membership to Crunch Gym
3. $500 for winter clothes
4. $2,000 for miscellaneous items/travel
Joe Teresi
5. $1,500 for clothes
6. $1,344.86 for a 15 month membership to Crunch Gym
7. $500 for winter clothes
8. $2,000 for miscellaneous items/travel
Remaining income Joe Teresi
Disposable Income-$13,632.44
Cost of Extracurricular-$5,344.86
Remaining Income-$8287.58
Christian Scott
Disposable Income-$10,049.22
Cost of Extracurricular-$5,344.86
Remaining Income-$4704.36
Savings
Joe Teresi Opening up an account
and depositing $5,000 Earns $50.25 over a year Deposits $416.67 a
month Income remaining after
savings $3,287.58
Christian Scott Opening up an account
and depositing $3,000 Earns 30.15 per year Has to deposit $250 a
month Income remaining after
savings $1,704.36
Open a high yield savings account with Ally Banks1-1.00% APY 2-FDIC insured3-No fees to open
Utilities(all cost shared except cell phone)
Water (shared cost)-$600 Electricity- $.139/kWh x
8,000kWh/year=$1,112 Gas- $.689/therm x 1,100
therm/year=$757.90 TV/Internet/Phone-$54.99/month
This bundle includes DirectTV, 210+ channels
High Speed Internet Verizon Landline w/ wireless router
Verizon Cell Phone-$80 per month +$200 for phone =$1,160 for first year
Remaining Income
Joe Teresi Disposable Income-
$3,287.58 Cost of Utilities-
$1,564.95 Remaining
Disposable Income-$1,722.63
Christian Scott Disposable Income-
$1,704.36 Cost of Utilities-
$1,564.95 Remaining
Disposable Income-$139.41
Summary of CostsJoe Teresi Starting Income-
$60,0001. Taxes-$21,817.8
2. Housing-$10,230
3. Healthcare-$3,728.76
4. Transportation-$1,742
5. Food/Ect.-$8,849
6. Extracurricular-$5,344.86
7. Utilities-$1,564.95
8. Savings-$5,000 Remaining Income-
$1,722.63
Christian Scott Starting Income-$55,000
1. Taxes-$20,401.05
2. Housing-$10,230
3. Healthcare-$3,728.76
4. Transportation-$1,742
5. Food/Ect.-$8,849
6. Extracurricular-$5,344.86
7. Utilities-$1,564.95
8. Savings-$3,000 Remaining Income-
$139.41
Works Cited
"1040ez." IRS. U.S. Government. Web. 01 June 2011. <http://www.irs.gov/pub/irs-pdf/f1040ez.pdf>.
"Amazon.com: VIZIO E420VO 42-Inch 1080p LCD HDTV, Black: Televisions & Video." Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & More. Web. 08 June 2011. <http://www.amazon.com/VIZIO-E420VO-42-Inch-1080p-Black/dp/B003VQQVDK/ref=sr_1_24?s=tv>.
"Crunch Gym Rates." Crunch Gym. Web. 8 June 2011. <www.crunch.com>.
"EmpireBlue." Affordable Health Insurance Plans for Medical, Dental, Vision and Life from Empire BlueCross BlueShield. Blue Shield. Web. 01 June 2011. <http://www.empireblue.com/wps/portal/ehpvisitor?content_path=member/noapplication/f3/s2/t4/pw_ad067434.htm>.
"Healthy NY: Benefit Package." New York State Insurance Department - Welcome Page. New York State Governement. Web. 01 June 2011. <http://www.ins.state.ny.us/website2/hny/english/hnybp.htm>.
"High Interest Savings Account: Online Savings Accounts | Ally Financial." CDs, Money Market, Savings & Checking | Ally Financial. Web. 08 June 2011. <http://www.ally.com/bank/online-savings-account/#tabs=rates>.
"Madison Ave, New York, NY 10037 - Zillow." Zillow - Real Estate, Homes for Sale, Home Prices & Values. Web. 01 June 2011. <http://www.zillow.com/homedetails/Madison-Ave-New-York-NY-10037/2127280523_zpid/#>.
"Mta.info | Maps." Mta.info | Home Page. New York State Governement. Web. 01 June 2011. <http://www.mta.info/fares/>.
The New York State Department of Taxation and Finance. Web. 01 June 2011. <http://www.tax.ny.gov/>.
"NYC.gov - Energy & Utilities." Web. 08 June 2011. <http://www.nyc.gov/portal/site/nycgov/menuitem.e2a95046115353f6a62fa24601c789a0>.
"Set Your Location." Cell Phones - Smartphones: Cell Phone Service, Accessories - Verizon Wireless. Web. 08 June 2011. <http://www.verizonwireless.com/b2c/store/controller?>.
"Verizon | Digital TV, Broadband Internet, and Phone Packages | FiOS Bundles." Verizon | Landing. Web. 08 June 2011. <http://www22.verizon.com/residential/bundles/#standard>.
top related