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This is an economic simulation of life and all it's expenses after college in Miami.

This is an economic simulation of life and all it's expenses after college in Miami.

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    Miami Miami Presentation Transcript

    • Ashley Geo & Jocelyn Wong
    • Total Income
      • Ashley
      • Occupation: Food Critic/Nutritionist
      • Initial Income: $60,000
      • FICA: $4,590
      • Federal Income Tax: $8,850
      • Disposable Income: $46560
      • Jocelyn
      • Occupation: Event Planner
      • Initial Income: $40,000
      • FICA: $3060
      • Federal Income Tax: $4,183
      • Disposable Income: $32757
    • Saving (10% of adjusted income)
      • Ashley
      • $4,656
      • Bank of America Checking: eBanking $656
      • Saving: $3,500
        • APY: 0.05%
      • Money Market Account: $500
        • APY: 0.13%
      • Jocelyn
      • $2,375
      • Bank of America Checking: eBanking $375
      • Saving: $1,500
        • APY: 0.05%
      • Money Market Account: $500
        • APY: 0.13%
    • Remaining Income
      • Ashley
      • $46560 - $4656 (Savings) = $41904
      • Jocelyn
      • $32757 - $2375 (Savings) = $30200
    • Rent: One Plaza
      • Address:
      • 1800 SW 1st Avenue
      • City: Miami, Fl
      • 33129
    • Costs and Amenities
      • Lease Term: 1 year
      • $1500 per month
      • $18000 annually
      • Deposit: $1000
      • Renter's Insurance Cost: $300/month
      • Living Cost: $18,000
      • Total Shared Living Cost: $18000 + $3600 + $1000= $22600 (11,300 each)
      • Luxury High-Rise apartment
      • 1021 sq. ft
      • 2 bedroom, 2 bathrooms
      • Covered Parking Garage
      • Large Swimming Pool and Spa
      • Wood floor
      • Full-Size Washer and Dryer
      • Granite Counters
      • Balconies with Glass Railings
      • Floor-to-Ceiling Sliding Doors
      • Energy Efficient Tinted Glass
      • Fitness/Cardiovascular Center
      • Ashley
      • $41904 – $11,300 (total living cost) = $30604
      • Jocelyn
      • $30200 - $11,300 (total living cost) = $18900
      Remaining Income
    • Healthcare
      • This Blue Cross and Blue Shield plan is developed in collaboration with Miami-Dade County. It’s designed specifically to meet the needs of the uninsured struggling with the high cost of health care. (This is perfect for two fresh-out-of-college students)
      • Along with affordable premiums, Miami-Dade Blue exclusively offers savings on services such as:
      • • Routine care, including visits to a family physician or specialist and adult routine physicals and well child visits
      • • Prescription drugs
      • • Routine dental care, such as cleanings, fillings, X-rays
      • • Hospital stays and surgeries
      • • Visits to urgent care centers and clinics
    • Healthcare
      • Ashley
      • Miami-Dade Blue Plan $936 for a year of insurance
      • $83/per month
      • 10% coinsurance
      • $250 deductible/year
      • Individual coverage
      • Jocelyn
      • Miami-Dade Blue Plan$936 for a year of insurance
      • $83/per month
      • 10% coinsurance
      • $250 deductible/year
      • Individual coverage
      • Ashley
      • $30,604 - $936 (healthcare cost) = $29,668
      Remaining Income
      • Jocelyn
      • $18900 - $936 (healthcare cost) = $17,964
    • Transportation
      • Ashley Geo & Jocelyn Wong
      • $1020 per year on a public transit pass
        • 22-mile, elevated transit system that runs throughout the city, including downtown region where our apartment is located
        • 22 accessible Metrorail stations are about one mile apart, providing easy access for bus riders, pedestrians, and passengers
    • Remaining Income
      • Ashley
      • $29,668 - $1,020 (transportation) = $28,648
      • Jocelyn
      • $17,964 - $1,020 (transportation) = $16,944
    • Rent Utilities (shared)
      • Electricity: $960 annually
      • Phone: $264 annually
      • Internet: Included
      • Water: Included
      • Air Conditioning: Included
      • Total Shared Utilities Cost: $1224 ($612 each)
      • Ashley’s Mobile Plan:
      • AT&T: $90/month = $1080 annually
      • Jocelyn’s Mobile Plan:
      • AT&T: $90/month = $1080 annually
    • Remaining Income
      • Ashley
      • $28,648 - $612 (utilities) = $28,036
      • Jocelyn
      • $16,944 - $612 (utilities) = $16, 332
    • Food (shared)
      • Basics
      • Milk: $360/year
      • Eggs: $120/year
      • Rice/Grains: $120/year
      • meat & poultry: $1200/year
      • fruits & vegetables: $900/year
      • Extras
      • Baking Ingredients: $180/year
      • Spices: $360/year
      • Processed Foods: $300/year
      • Dining out (per individual)
      • $200/year
      • $4,170/year per individual
    • Remaining Income
      • Ashley
      • $28,036 - $4170 (Food) = $23,866
      • Jocelyn
      • $16, 332 - $4170 (Food) = $12,162
    • Extracurricular Activities
      • Ashley
      • Biking: free (bike already owned)
      • Running on the beach: free
      • Gym/Fitness Center: Included in apartment amenities
      • Movies: $300/year
      • Jet Ski rentals: $119/hour
        • Average 6 hours/year
      • Clothes shopping: $300/month
      • Beach days: free
      • Travel/vacation: $2000/year
      • Musicals: $200/year
      • Random Expenses: $17,052
      • Jocelyn
      • Spa Days: $300/month
      • Running on the beach: free
      • Biking to the beach: free (bike already owned)
      • Horseback Riding: $60/lesson
        • 1 lesson/week
      • Gym/Fitness center: Included in apartment amenities
      • Jet Ski rentals: $119/hour
        • Average 6 hours/year
      • Clothes shopping: $200/month
      • Beach Days: free
      • Travel/vacation: $2000/year
      • Art Museums: $50/month
      • Random Expenses: $2,128
    • Works Cited
      • Apartments for Rent | An Apartment Finder & Guide for Rentals - ForRent.com . Web. 07 June 2011. <http://www.forrent.com/>.
      • &quot;Bank of America.&quot; Bank of America Florida. Web. 07 June 2011. < http://www.bankofamerica.com/foundation/index.cfm?template=fd_grantlistingsdetail>.
      • &quot;Coverage for Health.&quot; Blue Cross and Blue Shield of Florida. Web. 5 June 2011.
      • &quot;Florida Foods: Oranges, Mangos, Hearts of Palm, Avocados, Paw Paw...&quot; South Florida Vacation Travel Planner & Trip Guide, Weather, Florida Facts, Florida Foods and More! Web. 07 June 2011. < http://www.southfloridavacation.com/florida_foods.html>.
      • &quot;Miami Transportation - Car, Train, Bus & Taxi - VirtualTourist.&quot; Travel Guides, Hotel Reviews, Photos, Forums, Deals - VirtualTourist.com . Web. 07 June 2011. <http://www.virtualtourist.com/travel/North_America/United_States_of_America/Florida/Miami-763637/Transportation-Miami-TG-C-1.html>.
      • [Netscape, Text/notepad (tkmsa;jbh1). &quot;Miami & Miami Beach Local Cruises on Private Yacht Charters and Boat Rentals in Miami,Florida.&quot; Miami Yacht Charter. Miami Boat Charters. Miami Yacht Charters. Miami Boat Rentals; Miami Party Yachts, Miami Party Boat Rentals, Miami Florida Boat Charter. Luxury Yacht Charters & Boat Rentals in Miami, Florida . Web. 07 June 2011. <http://www.miamicharters.com/2002/cruises/cruises.asp>
      • &quot;Miami-Dade County - Transit.&quot; Metrorail. Web. 07 June 2011. < http://www.miamidade.gov/transit/>.
    • The End of Our Good Life In Miami