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Raleigh, north carolina

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Raleigh, north carolina

  1. 1. Raleigh, North carolina<br />
  2. 2. Income<br />Julian<br />+$60000 Salary<br /><ul><li> $8838 Federal Income Tax</li></ul>- $3390 FICA<br /><ul><li>$3418 State Income Tax</li></ul>= $44364 Remaining Income<br />Max<br />+$45000 Salary<br /><ul><li> $4925 Federal Income Tax</li></ul>- $2543 FICA<br /><ul><li> $2368 State Income Tax</li></ul>= $35164 Remaining Income<br />
  3. 3. Housing<br />1550 Village Glen Dr<br />Raleigh, NC 27612<br />$1150/MO<br />2 Bedrooms<br />2.5 Bathrooms<br />1024 SqFt<br />Julian<br />-$9000 Rent<br />=$35364 Remaining<br />Max<br />-$4800 Rent<br />=$30364 Remaining<br />
  4. 4. Healthcare<br />Julian<br />BlueAdvantage PPO – Plan B<br />$3500 Deductible<br />$25 Copay<br />30% Coinsurance<br />-$1188 Premiums<br />=$34176 Remaining<br />Max<br />BlueAdvantage PPO – Plan B<br />$3500 Deductible<br />$25 Copay<br />30% Coinsurance<br />-$1188 Premiums<br />=$29176 Remaining<br />
  5. 5. Utilities<br />Julian<br />-$480 Electricity<br />-$270 Water<br />-$480 Gas<br />-$180 Internet<br />-$480 Cell Phone<br />=$32286 Remaining<br />Max<br />-$480 Electricity<br />-$270 Water<br />-$480 Gas<br />-$180 Internet<br />-$480 Cell Phone<br />=$27286 Remaining<br />
  6. 6. Food/Funiture/appliances<br />Julian<br />-$10000 Food<br />-$1750 Appliances<br />-$1000 Furniture<br />-$1000 Computer<br />-$250 Household Supplies<br />=$18486 Remaining<br />Max<br />-$10000 Food<br />-$1750 Appliances<br />-$1000 Furniture<br />-$1000 Computer<br />-$250 Household Supplies<br />=$13486 Remaining<br />
  7. 7. Transportation<br />Julian<br />-$7500 Car<br />-$1128 Insurance<br />-$2000 Gas<br />-$1500 Repairs/Maintenance<br />=$6358 Remaining<br />Max<br />- $8400 Car<br />- $1650 Insurance<br />- $1200 Gas<br />- $1000 Repairs/Maintenance<br />=$1236 Remaining<br />
  8. 8. Misc.<br />Julian<br />-$800 Clothing<br />-$500 Misc. Entertainment<br />=$5058 Remaining<br />Max<br />- $800 Clothing<br />- $400 Misc. Entertainment<br />- $36 Remaining<br />
  9. 9. Analysis<br />This project both showed me and max that it requires much planning and organization in order to live a stable life. We learned that you have to allocate your money wisely and balance it. There are various strengths and weaknesses to each different variation of a spending plan and often times we had to choose the benefits between buying or renting and saving or spending. There is never a clear answer in how to spend our limited funds and it is up to us to prioritize our spending. Prioritization when organizing a spending plan is paramount. We feel that this is the most important aspect of this project and will be a very important skill when we have to live on our own. This project was also very eye opening as we got to view in a somewhat limited scope what it is like to live in another part of America. Living in Southern California is quite different with sky high house pricing and other aspects unique to the region. I feel that this knowledge will benefit us when we graduate college and are faced with the task of living by ourselves because it is most likely that we will not end up living in Southern California and diversity of knowledge is what makes a person prepared for this. <br />
  10. 10. Sources<br />"Payroll Tax Calculator -Social Security and Medicare Contributions and Wage Limits - 2000 through 2011." Moneychimp. Web. June 2011. <http://www.moneychimp.com/features/fica.htm>. <br />GasBuddy.com - Find Low Gas Prices in the USA and Canada. Web. 08 June 2011. <http://gasbuddy.com/>. <br />"Auto Insurance Quote." Allstate. Web. June 2011. <http://www.allstate.com/>. <br />"Electricity Prices by State." Electric Choice.com. Web. June 2011. <http://www.electricchoice.com/electricity-prices-by-state.php>. <br />Zillow - Real Estate, Homes for Sale, Home Prices & Values. Web. June 2011. <http://zillow.com>. <br />Cragslist. Web. June 2011. <www.craigslist.com>. <br />"Natural Gas Prices - Energy Explained, Your Guide To Understanding Energy." U.S. Energy Information Administration. Web. June 2011. <http://www.eia.gov/energyexplained/index.cfm?page=natural_gas_prices>. <br />

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