2. About the City Minneapolis, MN Population: 382,578 Average household income: $44,478 Unemployment: 4.7%
3. Financial starting point: Sophia Gross Income:$60,000 per year Federal income tax: $8,838 State Income Tax:$4,665 FICA:$4,590 Net Income: $41,907 Medicare:$840
4. Financial starting point: Tao Gross income: $40,000 per year Federal income tax $4,475 State income tax: $2,800 FICA: $3,060 Net income $29,665 Medicare: $560
5. Healthcare: Sophia Blue Cross Blue Shield individual coverage $67.50 per month $10,000 annual deductable $810.00 per year
6. Healthcare: Tao Blue Cross Blue Shield of Minnesota 80% individual coverage $5500 deductible $85 per month $1020 per year
8. Housing Expenses Rent $750 per month Deposit $750 Furniture: $1200 Refrigerator: $700 TV: $340 Total Expenses:$2,990 Total rent: $375 per person per month
9. Utility Bills Water and Electric bills: $72.86 per person per month Waste fee:$23.00 per person per month Cell phone: Go-phone $300.00 per person per year Internet: DSL, $29.00 per month Total Fees: $135.35 per person per month
11. Food for Sophia $120 per week for Groceries $70 to go out per week Total Food Expenses: $9,120 per year
12. Food for Tao Groceries /eat at home: $3600 per year Restaurant Dinning $1000 per year (Avoid mostly) Food related supplies (paper towels, eating utensils): $200 per year Total food Expenses: $4800 per year
13. Extracurricular Activities: Sophia Netflix: $95.88 per year Clothing: $2000 Cycling: $200 Cross Country skiing: $90 for skis, $60 for boots, $20 poles
14. Extracurricular Activities: Tao Video Games: $400 per year Clothing: $1000 per year Movies: $200 per year General Shopping: $600 per year Special Occasions: $300 per year Costco Membership: $100 per year
15. Sophia’s Financial overview per year Net Income: $41,067 Healthcare: -$810 Annual Rent: -$4500 Housing Fees: -$1495 Utility Fee: -$1624.3 Public Transportation:-$912 Food: -$9,120 Extracurricular: -$2460.88 Money Left: $21,825 = Total Savings
16. Sophia’s Savings $21,825 left Savings account: $10912.5 Bank of America interest: 1.9% Checking account:$10912.5
17. Tao’s Financial overview per year Net income: $29,115 Healthcare: -$1020 Annual Rent: -$4500 Housing Fees: -$1495 Utility Fee: -$1624.3 Public Transportation:-$912 Food: -$4800 Extracurricular:-$2600 Money left: $13263.7 = Total Savings
18. Tao’s Savings Money left:$13263.7 Savings account: $6631.83 Bank of America interest: 1.9% Checking account:$6631.83
19. Work Cited "Bank of America | Please Select Your State." Bank of America | Home | Personal. Web. 01 June 2011. <http://www.bankofamerica.com/state.cgi?section=generic>. "Blue Cross Blue Shield of Minnesota Questions." Blue Cross and Blue Shield of Minnesota. Web. 01 June 2011. <https://www.bluecrossmn.com/distribution/planadvisor/questions.html>. "City of Minneapolis: Recreation." City of Minneapolis, Minnesota - Official Web Site. Web. 01 June 2011. <http://www.ci.minneapolis.mn.us/visitors/recreation.asp>. "FICA & SECA Tax Rates." The United States Social Security Administration. Web. 01 June 2011. <http://www.ssa.gov/oact/progdata/taxRates.html>. "Minneapolis See Do: Things to Do in Minneapolis: Minneapolis Nightlife: Details, Information, Directions, Maps, Hours of Operation." Minneapolis Convention & Visitors Association. Web. 01 June 2011. <http://www.minneapolis.org/page/1/minneapolis-nightlife.jsp>. Minnesota Department of Revenue. Web. 01 June 2011. <http://taxes.state.mn.us/Pages/index.aspx>. "Passes & Go-To Cards - Metro Transit." Home - Metro Transit. Web. 01 June 2011. <http://www.metrotransit.org/passes-go-to-cards.aspx>. "Prepaid Phone Deals and Packages - Shop - Wireless from AT&T." Cell Phones, Cell Phone Plans, & Wireless Accessories - from AT&T. Web. 01 June 2011. <http://www.wireless.att.com/cell-phone-service/packages/prepaid-packages.jsp?wtSlotClick=1-005NJJ-0-2>. "Ulysses Manor in Minneapolis, MN." Apartments for Rent & Homes for Rent - Rent.com® Apartment Finder. Web. 01 June 2011. <http://www.rent.com/rentals/minnesota/minneapolis-st-paul-and-vicinity/minneapolis/ulysses-manor/643142/?sp=1>.
