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Transcript

  • 1. Des Moines, IA
    Mike Dahl
    Allie Boyd
  • 2. Initial Income
    Allie
    Occupation:
    Marine Biologist
    Initial Income: $45,000
    Disposable Income: $34,748.57
    ā€¨Michael
    • Occupation:
    Computer Engineer
    • Initial Income:
    $45,000
    • Disposable Income: $34,748.57
  • Taxation
    Allie
    Initial Income: $45,000
    Taxable Income: $35,650
    Federal Income Tax: -$5,100
    FICA: -$2,727.23
    State Income Tax: -$2,424.20
    Disposable Income: $34,748.57
    Michael
    • Initial Income: $45,000
    • 3. Taxable Income: $35,650
    • 4. Federal Income Tax: -$5,100
    • 5. FICA: -$2,727.23
    • 6. State Income Tax: -$2,424.20
    • 7. Disposable Income: $34,748.57
  • Savings
    Allie and Michael
    Disposable Income: $34,748.57
    10% Savings: $3,474.86
    Monthly Savings: $289.58
    Savings Account with Bank of America: $3,474.86
    APY: 0.05%
    Interest Rate: 0.05%
    Budget: $31,253.71
  • 8. Housing
    The Springs at Jordan Creek
    8655 Bridgewood Boulevard
    West Des Moines, CA 50266
    (13.4 miles from Des Moines)
    1,168 square feet
    2nd Floor Town Home Apartment
    2 Bedrooms
    2 Full Bathrooms
    Fully Furnished
    Garage
    Fitness Center
    Swimming Pool
    • Monthly Rent: $1,124
    • 9. Annual Rent: $13,488
    • 10. Lease Term: 1 year
    • 11. Deposit: $100
    • 12. Annual Renter's Insurance Cost: $256
  • Housing Expenses
    Allie and Michael
    Budget: $31,253.71
    Deposit: -$50
    Rent: -$6,744
    Renter's Insurance: -$128
    Remaining Budget: $24,331.71
  • 13. Healthcare
    UnitedHealthOne: Plan 100
    Monthly Cost: $97.58
    Annual Cost: $1,170.96
    Annual Deductible: $2,500
    No Co-Pays
    Out of Network Coverage
  • 14. Healthcare Expenses
    Allie and Michael
    Budget: $24,331.71
    Cost: -$1,170.96
    Deductible: -$2,500
    Remaining Budget: $20,660.75
  • 15. Transportation
    • Down Payment: $2,000
    • 16. Car Payment: 5 years
    • 17. APR: 4.0%
    • 18. Sales Tax: 6.0%
    • 19. Gas: $3.54 per gallon
    Allie: 2011 Volkswagen Jetta
    Price: $16,988
    Monthly Payments: $294.79
    Insurance Costs: $844
    Registration: $96.94
    Average Mileage per Year: 12,000 miles
    Average Mile per Gallon: 30 miles
    Michael: 2009 Toyota Carolla
    • Price: $16,999
    • 20. Monthly Payments: $295.01
    • 21. Insurance Costs: $1,312
    • 22. Registration: $138.70
    • 23. Average Mileage per Year: 14,000 miles
    • 24. Average Mile per Gallon: 35 miles
  • Transportation Expenses
    Michael
    • Budget: $20,660.75
    • 25. Down Payment: -$2,000
    • 26. 12 Month Payment: -$3,540.12
    • 27. Insurance: -$1,312
    • 28. Registration: -$138.70
    • 29. Gas: -$1,416
    • 30. Remaining Budget: $12,253.93
    Allie
    Budget: $20,660.75
    Down Payment: -$2,000
    12 Month Payment: -$3,537.48
    Insurance: -$844
    Registration: -$96.94
    Gas: -$1,416
    Remaining Budget: $12,766.33
  • 31. Utilities
    Monthly Rates:
    Water (Des Moines Water Works): $43.69
    Internet/Cable/Phone Package (Qwest): $94.94
    Gas (MidAmerican): $55
    Electricity (Alliant): $99
  • 32. Utility Expenses
    Allie
    Budget: $12,766.33
    Water: -$262.14
    Package: -$569.64
    Gas: -$330
    Electricity: -$594
    Remaining Budget: $11,010.55
    Michael
    • Budget: -$12,253.93
    • 33. Water: -$262.14
    • 34. Package: -$569.64
    • 35. Gas: -$330
    • 36. Electricity: -$594
    • 37. Remaining Budget: $10,498.15
  • Food
    Allie
    Daily Eating Out: $10
    Weekly Groceries: $70
    Monthly: $600
    Michael
    • Daily Eating Out: $15
    • 38. Weekly Groceries: $70
    • 39. Monthly: $750
  • Food Expenses
    Allie
    Budget: $11,010.55
    Food: -$7,200
    Remaining: $3,810.55
    Michael
    • Budget: $10,498.15
    • 40. Food: -$9,000
    • 41. Remaining: $1,498.15
  • Extracurricular Activities
    Allie
    Gym: Free (included with Apartment Complex)
    Clothing: $2,000
    Pool: Free (included with Apartment Complex)
    Netflix: $7.99 /Month
    Traveling: $1,000
    Michael
    Gym: Free (included with Apartment Complex)
    Clothing: $500
    Pool: Free (included with Apartment Complex)
    Netflix: $7.99 /Month
    XBOX 360: $299.99
    Golf (Toad Valley): $143
  • 42. Extracurricular Activity Expenses
    Allie
    Budget: $3,810.55
    Clothing: -$2,000
    Netflix: -$47.94
    Traveling: -$1,000
    Remaining Budget: $762.21
    Michael
    • Budget: $1,498.15
    • 43. Clothing: -$500
    • 44. Netflix: -$47.94
    • 45. XBOX 360: -$299.99
    • 46. Golf: -$143
    • 47. Remaining Budget: $507.22
  • Bibliography
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    "Alliant Energy : Rate Information." Alliant Energy : Home. 2011. Web. 07 June 2011. <http://www.alliantenergy.com/Newsroom/IntheNews/UtilityRateCases/IowaEle ctricRates/023177>.
    Andersen, Ty. "Toad Valley Public Golf Course | Toad Valley Golf Course." Golf | Golf Courses & Travel | Tips, Lessons & More | GolfLink. Golf Link, 2011. Web. 07 June 2011. <http://www.golflink.com/golf-courses/course.aspx?course=299745>.
    Apartment Guide. "Springs at Jordan Creek Apartments West Des Moines, IA - Apartments for Rent in West Des Moines Iowa." Apartments for Rent and Rentals - Free Apartment Finder | ApartmentGuide.com. Primedia Rentals, 2011. Web. 07 June 2011. <http://www.apartmentguide.com/apartments/Iowa/West-Des- Moines/Springs-at-Jordan-Creek/167986/>.
    Assurant. "Spring Apartment Renter's Insurance." If You Can See This Page, Check Your URL and Try Again. 2011. Web. 07 June 2011. <https://w2.assurant.com/ari/rentersinsurance/accountId/CPC/jobNumber/2774 67/B/eprod/7290739/quote.html>.
  • 48. "Average Annual Miles per Driver by Age Group." Home | Federal Highway Administration. U.S. Department of Transportation, 04 Apr. 2011. Web. 07 June 2011. <http://www.fhwa.dot.gov/ohim/onh00/bar8.htm>.
    Bank of America. "Open a Regular Savings Account." Bankofamerica.com. FDIC, 2011. Web. 7 June 2011.
    "Des Moines Water Works - Rates." Des Moines Water Works. American Water Works Association, 2011. Web. 07 June 2011. <http://www.dmww.com/SubPageHTML.aspx?SubPageID=32>.
    Gas Buddy. "Iowa Gas Prices - Find Cheap Gas Prices in Iowa." DEX, 2011. Web. 07 June 2011. <http://iowastategasprices.com/GasPriceSearch.aspx>.
    Granger Motors. "2011 Volkswagen Jetta." New & Used Cars for Sale, Auto Dealers, Car Reviews and Car Finance Advice. Cars.com. Web. 07 June 2011. <http://www.cars.com>.
    "Insurance Quote." EHealthInsurance.com. EHealthInsurance Services, Inc., 2011. Web. 7 June 2011. <https://www.ehealthinsurance.com/ehi/ifp/plan- details?planKey=5006:107016&productLine=IFP&ifpUIState.planDetailsBackUrl=/ifp/help-me-choose>.
    "Iowa Income Tax Rates - Iowa & Other State Tax Rates Information. IA Tax Calculator." Salary.com. 24 Nov. 2010. Web. 07 June 2011. <http://swz.salary.com/salarywizard/layouthtmls/swzl_statetaxrate_ia.h tml>.
  • 49. MidAmerican Energy Holdings Company. "Electric and Gas Rates: Iowa West." MidAmerican Energy Company. Feb. 2011. Web. 07 June 2011. <http://www.midamericanenergy.com/econdevEGRates.aspx?id=iwg>.
    "New Membership." Netflix.com. Netflix, Inc., 2011. Web. 7 June 2011. <http://movies.netflix.com/WiHome>.
    Progressive. "Car Quotes." Car Insurance: Auto Insurance & Online Insurance Quotes - Progressive. Auto Insurance 5. Web. 07 June 2011. <https://autoinsurance5.progressivedirect.com/AutoDisplayPage.aspx>.
    "Session Timeout." Connect and Save on Your Utilities at WhiteFence | Home Phone | Cable TV | High-Speed Internet | Electricity. White Fence, 07 June 2011. Web. 07 June 2011. <https://www.whitefence.com/WebObjects/WhiteFence.woa/wa/topOff ersResults?eID=1057545>.
    Social Security Online. "FICA & SECA Tax Rates." The United States Social Security Administration. Usa.gov, 29 Dec. 2010. Web. 07 June 2011. <http://www.ssa.gov/oact/progdata/taxRates.html>.
    "State Sales Tax Rates." Careers, Finance and Investing : Money-zine.com. Winter 2011. Web. 07 June 2011. <http://www.money- zine.com/Financial-Planning/Tax-Shelter/State-Sales-Tax-Rates/>.
    "TIME-21 - Iowa DOT." Iowa Department of Transportation. 01 Jan. 2009. Web. 07 June 2011. <http://www.iowadot.gov/time21/vehicle_reg.html>.
  • 50. Toyota of Des Moines. "2009 Toyota Carolla LE." New & Used Cars for Sale, Auto Dealers, Car Reviews and Car Finance Advice. Cars.com. Web. 07 June 2011. <http://www.cars.com>.
    Xbox. "Xbox 360 Consoles - Xbox.com." Xbox 360 - Official Site - Xbox.com. 2011. Web. 07 June 2011. <http://www.xbox.com/en- US/xbox360/consoles?xr=shellnav>.