Project Final

THE COST OF LIVING PROJECT

Hera Maryam --- Erica McGale

ATLANTA, Georgia

BASIC INFORMATION

Hera Maryam Gross Salary:

$50,000.00 Job:

Medical Assistant (Starting level position)

Erica McGale Gross Salary:

$45,000.00 Job:

Medical Lab Assistant (Starting level position)

TAXATION

Hera Maryam Dues:

Federal Income Tax from EZ1040: $6, 338.00 Social Security Withholdings with Medicare: $3,825.00 State Income Tax: $3,000

Disposable Income: $36,837.00

Erica McGale Dues:

Federal Income Tax from EZ1040: $5,088.00 Social Security Withholdings with Medicare: $3,442.50 State Income Tax: $2,700.00

Disposable Income: $33,769.50

SAVINGS

Hera Maryam TOTAL Savings: $14,066.54 (28.13%) Savings Account in CitiBank: $12,000.00 APY: .0525 Checking Account in CitiBank: $2,066.54

Erica McGale TOTAL Savings: $10,439.00 (23.20%) Savings Account in CitiBank: $9,000.00 APY: .0525 Checking Account in CitiBank: $1,439.04

HOUSING

Dunwoody Pointe 7901 Roswell Road

Atlanta, GA 30350

2 beds, 2 bath Rent: $707.00 (15 month lease) Deposit: $250.00 Rental Insurance: $15.83 monthly

TOTAL Annual Cost Per Person: $4461.98

HEALTHCARE

UnitedHealthOne Insurance Copay Select Plan for both Hera and Erica

Deductible: $7,500 Co-pays: $35.00 Coinsurance (% paid by insurance / % paid

by insured): 80/20 Monthly Premium: $99.31

TOTAL Annually Per Person: $1191.72

TRANSPORTATION

MARTA Transit Bus Line 1 hour trip to downtown, 1 transfer. Bus stop .2 miles away from apartment.

MARTA 30-Day Bus Pass for $68.00

Both Hera and Erica will take the bus (need Pass)

TOTAL Annually per Person: $816.00

UTILITIES

Cell phone (AT and T) $30.00 monthly

Internet (CLEAR, 4G, Wireless) $35.00 monthly

Netflix (Instant) $8.00 monthly

Water $60.00 per apartment

Electricity (Georgia Power) $125.00 monthly

Gas (Georgia Natural Gas, Standard) $40.46 monthly

All costs will be shared between Hera and Erica

TOTAL Annually Per Person: $1970.76

FOOD

Hera Maryam

$165.00 per week $120.00 groceries $45.00 for eating out

2-3 times a week $8,580.00 Annually

Erica McGale

$165.00 per week $120.00 groceries $45.00 for eating out

2-3 times a week $8,580.00 Annually

EXTRACURRICULAR ACTIVITIES

Hera Maryam Shopping for Self : $2,000.00 Furniture/Home: $750.00 Gifts: $500.00 Vacations: $1,500 Activities: $600.00 Books: $100.00 Other: $300.00

Erica McGale Shopping for Self: $2,500.00 Furniture/Home: $750.00 Gifts: $500.00 Vacations: $1,500 Activities: $700.00 Books: $60.00 Other: $300.00

ANNUAL EXPENSES OVERVIEW

Categories Erica McGale Hera Maryam

Salary $45,000.00 $50,000.00

Taxes $11,230.50 $13,163.00

Housing $4,461.98 $4,461.98

Healthcare $1,191.72 $1,191.72

Transportation $816.00 $816.00

Utilities $1,970.76 $1,970.76

Food $8,589.00 $8,580.00

Activities $6,310.00 $5,750.00

Total Expenses $34,560.96 $35,933.46

Saving’s Account $9,000.00 $12,000.00

Checking Account $1,439.04 $2,066.54

WORKS CITED

"AT and T Cell Phone Plans." AT and T Wireless. Web. 6 June 2011. <http://www.wireless.att.com/cell-phone-service/cell-phone-plans/index.jsp>.

"CLEAR Home and On-the-go Internet Plans." CLEAR WIRELESS. 6 June 2011. Web. <http://www.clearwirelessinternet4g.com/>.

"Crime Rates for Atlanta, GA." Neighborhood Scout. Web. 2 June 2011. <http://www.neighborhoodscout.com/ga/atlanta/crime/>.

"Dunwoody Pointe." Rent.com. Web. 3 June 2011. <http://www.rent.com/rentals/georgia/atlanta-and-vicinity/atlanta/buckhead/dunwoody-pointe/332315/>.

"Fares and Discounts." MARTA-Metropolitan Atlanta Rapid Transit Authority. Web. 6 June 2011. <http://www.itsmarta.com/fares-passes.aspx#fare_table>.

"Georgia State Income Tax." Tax Rates. Web. 3 June 2011. <http://www.tax-rates.org/Georgia/income-tax/>.

"Health Insurance Quotes." UnitedHealth One. Web. 4 June 2011. <https://www.uhone.com/Quote/QuotePerson.aspx>.

"Netflix." Netflix. Web. 7 June 2011. <www.netflix.com>. "Price Plans-New Customores." Georgia Natural Gas. Web. 6 June 2011.

<http://www.onlygng.com/residential/priceplans_new.asp>. "Rental Insurance Quotes." ERenter Plan. Web. 6 June 2011.

<http://www.erenterplan.com/QUOTE/zip/30331.aspx>. "Trust Fund Data." Social Security Online. Web. 2 June 2011.

<http://www.ssa.gov/oact/progdata/taxRates.html>.

THE END