Minneapolis, minnesota[1]

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Text of Minneapolis, minnesota[1]

  • Cost of Living
    Liz Chen
    Karen Kuo
    Minneapolis, Minnesota
  • Total Income (Pre and Post Tax)
    Liz Chen
    Karen Kuo
    Occupation: Psychologist
    Initial Income: $45,000
    Deductions:
    • Federal Income Tax: $5,100
    • FICA: $3,442.50
    • State income tax:$2,513.33
    Disposable Income: $33,944.17
    Occupation: Math Teacher
    Initial Income: $40,000
    Deductions
    • Federal Income Tax: $4,183
    • FICA: $3,060
    • State income tax: $2,160.83
    Disposable Income: $30,596.18
  • Housing
    3600 Chicago AveMinneapolis, MN 55407
    Lease Term: 1 year
    Deposit: $950
    Application fee: $35per adult
    Monthly Rent: $950
    Renters Insurance: $30.50 per month; $366 per year
    • Size: 1,100 sqft
    2 story un-attached single-family home
    2 bedrooms
    1 full bathroom
    1 detached garage
    1 living room
  • Housing Costs
    Liz Chen
    Karen Kuo
    $33,944.17
    Deductions
    $475 Deposit
    $35 Application Fee
    $5,700 Annual Rent
    $366 Renters Insurance
    Remainder: $26,983.17
    $30,596.18
    Deductions
    $475 Deposit
    $35 Application Fee
    $5,700 Annual Rent
    $366 Renters Insurance
    Remainder: $23,635.18
  • Healthcare
    Liz Chen
    Karen Kuo
    Provider: Blue Cross Blue Shield of Minnesota
    $134.50 per month per person
    PPO
    Deductible: $3,000
    80% Coinsurance for in-network services
    Total: $1,614 per year
    Remaining Income ($26,983.17 - $1,614): $25,369.17
    Provider: Medica
    $94.24 per month per person
    PPO
    Deductible: $3,000
    Coinsurance
    Total: $1,130.88 per year
    Remaining Income($23,635.18 - $1,130.88): $22,504.30
  • Transportation Costs
    Liz Chen
    Karen Kuo
    Public Transportation: MetroTransit, $76 per month
    Bike: $429.99 (includes maintenance fee of $70)
    Total (annual): $1,341.99
    Remaining income ($25,369.17-$1,341.99): $24,027.18
    Public Transportation: MetroTransit, $76 per month
    Bringing bike from home; walking
    Total (annual): $912
    Remaining income ($22,504.30-$912): $21,592.30
  • Cost of Utilities (calculated annually)
    Liz Chen
    Karen Kuo
    Phone: $599.88
    T-Mobile 1000-minute calling only plan
    Gas (Heating): $840
    Electric: $2,094
    Water: $559.20
    Cable/Internet: $420
    Comcast
    Total: $4,513.08
    Remaining Income ($24,027.18-$4,513.08): $19,514.10
    Phone: $479.88
    AT&T 1000-minute calling only plan
    Gas (Heating): $840
    Electric: $2,094
    Water: $559.20
    Cable/Internet: $420
    Comcast
    Total: $4,393.08
    Remaining Income ($21,592.30-$4,393.08): $17,199.22
  • Cost of Food, Furniture, & Household Supplies
    Liz Chen
    Karen Kuo
    Groceries: $175 per month
    Eating Out: $100 per month
    Snacks: $40 per month
    Food Total (annual): $3,780
    Furniture: $2,500
    Household Supplies: $500 (split cost)
    Overall Cost: $6,780
    Remaining Income ($19,514.10-$6,780): $12,734.10
    Groceries: $250 per month
    Eating Out: $40 per month
    Snacks: $0 per month
    Food Total (annual): $3,480
    Furniture: $800
    Household Supplies: $500 (split cost)
    Overall Cost: $4,780
    Remaining Income ($17,199.22-$4,780): $12,419.22
  • Savings *Doesnt include Extracurricular activities b/c activities arent really needed to live (by Asian Standards, anyway not that this is a good or a bad thing).
    Liz Chen
    Karen Kuo
    Annual Living Costs* ($33,944.17 -$12,734.10) : $21,210.07
    Annual Income to Save: $12,734.10
    Saving 20% of Annual Income (from above): $2,546.82
    Bank of America (0.05% APY)
    Checking Account: $546.82
    Savings Account: $2,000
    Remaining Income: $10,187.28
    Annual Living Costs* ($30,596.18 -$12,419.22): $18,176.96
    Annual Income to Save: $12,419.22
    Saving 30% of Annual Income (from above): $3,725.77
    Bank of America (0.05% APY)
    Checking Account: $725.77
    Savings Account: $3,000
    Remaining Income: $8,693.45
  • Extracurricular Activities (calculated annually)
    Liz Chen
    Karen Kuo
    Overnight Kayak Trips with Wilderness Inquiry: $1,500
    Horseback Riding at River Valley Horse Ranch: $800
    Ice Skating at The Depot :$540
    Guthrie Theater Tour and Performances: $100
    Visit Lake Harriet, Lake of the Isles, Lake Calhoun, and the Stone Arch Bridge: $0
    Flute, Accessories, and Sheet Music: $1,100
    Total: $4,040
    Total Amount Remaining ($10,187.28- $4,040): $6,147.28
    Yoga Membership: $540
    Leisure Shopping (Calhoun Square): $3,600
    Visit Lake Harriet, Lake of the Isles, Lake Calhoun, and the Stone Arch Bridge = $120
    Total: $4,260
    Total Amount Remaining ($8,693.45 - $4,260): $4,433.45
  • Summary (of the first year)
    Liz Chen
    Karen Kuo
    Disposable Income: $33,944.17
    Costs (Annual):
    Housing: $6,961.00
    Healthcare: $1,614
    Transportation: $1,341.99
    Utilities: $4,513.08
    Food/Furniture/Supplies: $6,780
    Savings: $2,546.82
    Extracurricular Activities: $4,040
    Remaining Income: $6,147.28
    Disposable Income: $30,596.18
    Costs (Annual):
    Housing: $6,961.00
    Healthcare: $1,130.88
    Transportation: $912
    Utilities: $4,393.08
    Food/Furniture/Supplies: $4,780
    Savings: $3,725.77
    Extracurricular Activities: $4,260
    Remaining Income: $4,433.45
  • Bibliography
    2010 Freewheel, Inc. Advertisement. Freewheel Bike Shop - Minneapolis - Twin Cities - St. Paul - Trek - Gary Fisher - Nokian - Schwalbe - Studded Tires. Web.07 June 2011. .
    2011 Meet Minneapolis. "150 Things to Do in Minneapolis." Minneapolis Convention & Visitors Association. MOA, Delta, American Express. Web. 07 June 2011. .
    "Average Cost of Food & Drink for Single Women in MINNEAPOLIS,MN | Bundle." How America Spends and Saves Money | Bundle. 2011 Bundle Corporation. Web. 07 June 2011. .
    "Bicycling in Minneapolis." City of Minneapolis, Minnesota - Official Web Site. City of Minneapolis, 2010. Web. 07 June 2011. .
    Bikram Yoga Keeps You Stay Healthy, Fight against Stress, Diabetes, Obesity, Insomnia, Arthritis. 2010 Bikramyoga.com. Web. 07 June 2011. .
  • Bibliography (Cont.)
    Calhoun Square | Home : An Urban Mall in the Heart of Uptown. Jones Lang LaSalle. Web. 07 June 2011. .
    "City of Minneapolis-St. Paul Cost of Living Calculator. Minnesota--Minneapolis-St. Paul Relocation C." Salary.com. Web. 07 June 2011. .
    FICA Tax. Careers, Finance and Investing : Money-zine.com. Rep. Money-zine.com, 2011. Web. 07 June 2011. .
    Health Insurance - Find Affordable Health Insurance Plans and Buy Medical Coverage Online. 2011 EHealthInsurance Services, Inc. Web. 07 June 2011. .
    How America Spends and Saves Money | Bundle. Rep. 2011 Bundle Corporation. Web. 07 June 2011. .
  • Bibliography (Cont.)
    James, Clara. "What Does It Cost to Heat a Home in Minneapolis-St. Paul? What Does It Cost To Heat An Apartment in Minneapolis-St. Paul?" Minneapolis / St. Paul - Guide to Minneapolis and St. Paul, Minnesota. About.com. Web. 07 June 2011. .
    LA Fitness: Where Fitness Is a Way of Life. 2011 L.A. Fitness International, LLC. Web. 07 June 2011. .
    Macy's| Department Store, Dept Store , Department Stores, Clothing, Apparel, Accessories. Macys.com, Inc. Web. 07 June 2011. .
    Metro Transit. Advertisement. Metropolitan Council. Web. 07 June 2011. .
    Minneapolis Concerts | 2011 Concert Calendar/Schedule & Tickets. 2011 MinneapolisConcerts.net. Web. 07 June 2011. .
  • Bibliography (Cont.)
    "Minneapolis Gas Prices - Find the Lowest Gas Prices in Minneapolis, Minnesota." Twin Cities Gas Prices - Find Cheap Gas Prices in Minnesota. Gasbuddy.com, 07 June 2011. Web. 07 June 2011. .
    "Minneapolis Zip Codes, Area Code, County and More." Minneapolis Yellow Pages and Minneapolis MN Guide. 2011 MDNH, Inc. Web. 07 June 2011. .
    "Places near 3600 Chicago Ave, MN55407." Map. Google Maps. Google. Web. 07 June 2011. .
    RichWeb Media LLC 2011. Advertisement. High Speed Internet, DSL Providers, Wireless Internet by Zip Code. RichWeb Media LLC 2011. Web. 07 June 2011. .
    River Valley Horse Ranch. 2011 River Valley Ranch, Inc. Web. 7 June 2011. .
  • Bibliography (Cont.)
    T-Mobile USA. Advertisement. Cell Phones| 4G Cell Phone Plans |AndroidTablet PCs| T-Mobile. Web. 07 June 2011. .
    United States of America. Minnesota Department of Revenue. Minnesota Department of Revenue. Minnesota State Government, Dec. 2010. Web. 07 June 2011. .
    United States of America. United States Department of Labor. CONSUMER PRICE INDEX, MINNEAPOLIS-ST. PAUL, MINN.-WIS., MSA - 2010 ANNUAL AVERAGES. By U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics. Web. 07 June 2011. .