The cost of living nyc

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The cost of living nyc

  1. 1. The Cost of Living: New York City, NY
  2. 2. Location <ul><li>New York City, NY (Queens) </li></ul>
  3. 3. Total Income: Initial and Post-Tax <ul><li>Anita Yau Occupation: Nurse Initial Income: $55,000 FICA: $4,207.50 Federal Tax: $7,588 State Tax: $3,850 Post Tax: $43,562 Total Income: $39,354.50 </li></ul><ul><li>Hannah Chang Occupation: Museum Technician Initial Income: $40,000 FICA: $3,060 Federal Tax: $3,756 State Tax: $2,800 Total Income: $30,384 </li></ul>
  4. 4. Savings (15% of adjusted income) <ul><li>Anita Yau </li></ul><ul><li>$5,903.18 </li></ul><ul><li>Saving’s account at Bank of America: $3,903.18 </li></ul><ul><ul><li>.10% (APY) </li></ul></ul><ul><li>Checking account at Bank of America: $2,000 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$4,557.60 </li></ul><ul><li>Saving’s Account at HSBC: $3,800.00 </li></ul><ul><ul><li>.10% (APY) </li></ul></ul><ul><li>Checking Account at Bank of America: $757.60 </li></ul>
  5. 5. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$39,354.50 </li></ul><ul><li>- $5,903.18 (Savings) </li></ul><ul><li>= $33,451.32 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$30,384 </li></ul><ul><li>- $4557.60 (Savings) </li></ul><ul><li>= $25,826.40 </li></ul>
  6. 6. Housing <ul><li>16017 Grand Central Parkway </li></ul><ul><li>City: New York City (Jamaica, Queens) </li></ul><ul><li>Zip Code: 11432 </li></ul>
  7. 7. Housing Costs <ul><li>Lease Term: 1 year </li></ul><ul><li>Deposit: $1,000 </li></ul><ul><li>Living Cost: $16,800 annually </li></ul><ul><li>Renter's Insurance Cost: $200 annually </li></ul><ul><li>Size: 1,920 square feet </li></ul><ul><li>2 bedroom apartment (located on 2nd floor) </li></ul><ul><li>1 bathroom </li></ul>
  8. 8. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$33,451.32 </li></ul><ul><li>- $500 (Deposit) </li></ul><ul><li>- $8,400 (Annual Cost) </li></ul><ul><li>- $100 (Insurance) </li></ul><ul><li>= $ 24,451.32 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$25,826.40 </li></ul><ul><li>- $500 (Deposit) </li></ul><ul><li>- $8,400 (Annual Cost) </li></ul><ul><li>- $100 (Insurance) </li></ul><ul><li>= $16,826.40 </li></ul>
  9. 9. Healthcare Atlantis Health Care <ul><li>Anita Yau </li></ul><ul><li>$5,922.36 annually </li></ul><ul><li>$493.53/month </li></ul><ul><li>HMO 25/40 With RX </li></ul><ul><li>Deductible - All Services & nbsp Deductible-Prescription </li></ul><ul><li>Individual Coverage </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$5,609.52 annually </li></ul><ul><li>$467.46/month </li></ul><ul><li>HMO 25/40 </li></ul><ul><li>Deductible - All Services </li></ul><ul><li>Individual Coverage </li></ul>
  10. 10. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$ 24,451.32 </li></ul><ul><li>- $5,922.36 (Healthcare) </li></ul><ul><li>= $18,528.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$16,826.40 </li></ul><ul><li>- $5,609.52 (Healthcare) </li></ul><ul><li>= $11,216.88 </li></ul>
  11. 11. Transportation <ul><li>Subway: $1,000 annually </li></ul><ul><li>Bike: $300 </li></ul>
  12. 12. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$18,528.96 </li></ul><ul><li>- $1,000 (Subway) </li></ul><ul><li>- $300 (Bike) </li></ul><ul><li>= $17,228.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$11,216.88 </li></ul><ul><li>- $1,000 (Subway) </li></ul><ul><li>= $10,216.88 </li></ul>
  13. 13. Utilities (calculated on annual basis, shared cost) <ul><li>Electricity: $300 </li></ul><ul><li>Water: $180 </li></ul><ul><li>Gas: $300 </li></ul><ul><li>Internet: $420 </li></ul><ul><li>Cell phones: $840 (each) </li></ul>
  14. 14. Remaining Cost <ul><li>Anita Yau </li></ul><ul><li>$17,228.96 </li></ul><ul><li>- $150 (Electricity) </li></ul><ul><li>- $90 (Water) </li></ul><ul><li>- $150 (Gas) </li></ul><ul><li>- $210 (Internet) </li></ul><ul><li>- $840 (Cell phone) </li></ul><ul><li>= $15,788.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$10,216.88 </li></ul><ul><li>- $150 (Electricity) </li></ul><ul><li>- $90 (Water) </li></ul><ul><li>- $150 (Gas) </li></ul><ul><li>- $210 (Internet) </li></ul><ul><li>- $840 (Cell phone) </li></ul><ul><li>= $8,776.88 </li></ul>
  15. 15. Food/Furniture <ul><li>Anita Yau </li></ul><ul><li>Food: $7,200 </li></ul><ul><li>Household Furniture: $500 (split cost) </li></ul><ul><li>Housing Supplies: $300 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>Food: $6,120 </li></ul><ul><li>Household Furniture: $500 (split cost) </li></ul><ul><li>Housing Supplies: $300 </li></ul>
  16. 16. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$15,788.96 </li></ul><ul><li>- $7,200 (Food) </li></ul><ul><li>- $250 (Furniture) </li></ul><ul><li>- $300 (Household) </li></ul><ul><li>= $8,038.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$8,776.88 </li></ul><ul><li>- $6,120 (Food) </li></ul><ul><li>- $250 (Furniture) </li></ul><ul><li>- $300 (Household) </li></ul><ul><li>= $2,106.88 </li></ul>
  17. 17. Extracurricular Activities <ul><li>Anita Yau </li></ul><ul><li>Clothes: $3,000 </li></ul><ul><li>Gym Membership at NYSC: $960 </li></ul><ul><li>Travel: $2,000 </li></ul><ul><li>Museum, Hanging out with Hannah, Movies, Broadway: $500 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>Clothes: $1,300 </li></ul><ul><li>Yoga Class at Ishta Yoga NYC: $325 </li></ul><ul><li>Museum, Hanging out with Anita, Movies, Broadway: $481.88 </li></ul>
  18. 18. Remaining Income <ul><li>Anita Yau </li></ul><ul><li>$8,038.96 </li></ul><ul><li>- $3,000 (Clothes) </li></ul><ul><li>- $2,000 (Travel) </li></ul><ul><li>- $960 (Gym) </li></ul><ul><li>- $500 (EC activities) </li></ul><ul><li>= $1,578.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>$2,106.88 </li></ul><ul><li>- $1,300 (Clothes) </li></ul><ul><li>- $325 (Yoga) </li></ul><ul><li>- $481.88 (EC activities) </li></ul><ul><li>= $0 </li></ul>
  19. 19. End <ul><li>Anita Yau </li></ul><ul><li>Savings: $5,903.18 </li></ul><ul><li>Housing Costs: $9,000 </li></ul><ul><li>Healthcare: $5,922.36 </li></ul><ul><li>Transportation: $1,300 </li></ul><ul><li>Utilities: $1,440 </li></ul><ul><li>Food/Furniture: $7,750 </li></ul><ul><li>Extracurricular Activities: $6,460 </li></ul><ul><li>Remaining Income: $1,578.96 </li></ul><ul><li>Hannah Chang </li></ul><ul><li>Savings: $4,557.60 </li></ul><ul><li>Housing Costs: $9,000 </li></ul><ul><li>Healthcare: $5,609.02 </li></ul><ul><li>Transportation: $1,000 </li></ul><ul><li>Utilities: $1,440 </li></ul><ul><li>Food/Furniture: $6,670 </li></ul><ul><li>Extracurricular Activities: $2,106.88 </li></ul><ul><li>Remaining Income: </li></ul><ul><li>$0 </li></ul>
  20. 20. Works Cited <ul><li>Advertisement. Zillow - Real Estate, Homes for Sale, Home Prices & Values . Zillow Inc., 10 May 2011. Web. 02 June 2011. < http://www.zillow.com/ >. </li></ul><ul><li>&quot;Department of Taxation and Finance.&quot; The New York State Department of Taxation and Finance . New York State. Web. 07 June 2011. < http://www.tax.ny.gov/ >. </li></ul><ul><li>&quot;Health Insurance Plans.&quot; New York Health Insurance Plans - Affordable NY Health Insurance Coverage and Healthy NY Plans . Vista Health Solutions. Web. 07 June 2011. < http://www.nyhealthinsurer.com/ >. </li></ul><ul><li>&quot;How Much Are Utilities? (Florida, Kensington: Apartment, to Rent, House) - City-Data Forum.&quot; Stats about All US Cities - Real Estate, Relocation Info, House Prices, Home Value Estimator, Recent Sales, Cost of Living, Crime, Race, Income, Photos, Education, Maps, Weather, Houses, Schools, Neighborhoods, and More . City-Data.com, 21 Oct. 2006. Web. 03 June 2011. < http://www.city-data.com/forum/new-york-city/20465-how-much-utilities.html >. </li></ul><ul><li>&quot;How's the Cost of Living in New York? - Yahoo! Answers.&quot; Yahoo! Answers - Home . Yahoo! Inc., 2007. Web. 07 June 2011. < http://answers.yahoo.com/question/index?qid=20071216191136AACs287 >. </li></ul><ul><li>New York Furniture & Home, Inc. Advertisement. Brooklyn Furniture, Sofa Bed, Platform Bed, Nyc Furniture Stores . Web. 07 June 2011. < http://www.ny-furniture.com/ >. </li></ul><ul><li>United States. State of New York. Metropolitan Transportation Authority. Mta.info | Home Page . Web. 07 June 2011. < http://www.mta.info/ >. </li></ul><ul><li>O'Connell, Ryan. &quot;How to Live in New York City « Thought Catalog.&quot; Review. Web log post. Thought Catalog . 20 Dec. 2010. Web. 07 June 2011. < http://thoughtcatalog.com/2010/how-to-live-in-new-york-city/ >. </li></ul><ul><li>&quot;Yahoo! Answers - What's the Average Monthly Cost of Living in New York City, Manhattan to Be More Specific?&quot; Yahoo! Answers - Home . Yahoo! Inc., 2008. Web. 05 June 2011. < http://sg.answers.yahoo.com/question/index?qid=20080612023320AAaf2DJ >. </li></ul>

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