Download - Cost of living nashville tn ppt
The Cost of Living: Nashville, TN
Kevin WanThomas Hsu
Location
• Nashville, TN
Total Income: Thomas
• Occupation: Computer programmer• Initial Income: $55,000• Post-tax: $38,050• FICA: $3,106• State tax: $2,664• Total Disposable Income: $31,115.25
Total Income: Kevin
• Occupation: Aerospace Engineer• Initial Income: $40,000• Post-tax: $26,467• FICA: $3,106• State tax: $1,764• Total Disposable Income: $21,597
Housing
• 510 Gay St• City: Nashville• Zip Code: 37219• Located in city center
Housing Costs• $850/month• $10,200 for an entire year• Month-to-month lease terms• 2 bedrooms, 1 bathroom• Size: 850 square feet• 1 story condo• Garage parking available• Utilities Included• Weight room included, on premises
Remaining Income
Thomas• $31,115.25
– -$5,100 annual costs
• $26,015.25
Kevin• $21,597
– -$5100 annual costs
• $16,497
HealthcareThomas• $1,488 Annually• $124.00/month• $2,500 Deductible Plans - L07P Plan• $2500 Deductible• Individual Coverage
Kevin • $1,488 Annually• $124.00/month• $2,500 Deductible Plans - L07P Plan• $2500 Deductible• Individual Coverage
Remaining Income
Thomas• $26,015.25
– -$1,488 annual costs
• $24,527.25
Kevin• $16,497
– -$1,488 annual costs
• $15,009
Transportation
• Central location -> walk most places• 3 bus routes around Downtown Nashville free• Longer bus fares costs $1.60 for a single ride• Thomas:– $10/month
• Kevin:– $10/month
Remaining Income
Thomas• $24,527.25
– -$120 annual costs
• $24,407.25
Kevin• $15,009
– -$120 annual costs
• $14,889
Utilities
• Electricity: paid for by housing• Water: paid for by housing• Gas: paid for by housing• Cell phones: $60/month (each)• Internet: $87.50/month (shared)
Remaining Income
Thomas• $24,407.25
– -$720 cell phone– $525 Internet
• $23,162.25
Kevin• $14,889
– -$720 annual costs– $525 Internet
• $13,644
Food/Furniture
Thomas:• Groceries: $150/monthKevin:• Groceries: $150/monthShared:• 42" Screen Plasma HDTV: $400• Furniture: $500• Household Tools: $100
Remaining Income
Thomas• $23,162.25
– -$150 groceries– $200 HDTV– $250 furniture– $50 household tools
• $22,512.25
Kevin• $13,644
– -$150 groceries– $200 HDTV– $250 furniture– $50 household tools
• $12,994
Extracurricular Activities
Thomas• Clothes: $500/year• Tennis: $300/year• Computer: $1000• Video games: $50/year
Kevin• Clothes: $500/year• Computer: $1000• Movies: $30/year• Video games: $50/year
Remaining Income
Thomas• $22,512.25
– -$500 groceries– $300 tennis– $1000 computer– $50 video games
• $20,622.25
Kevin• $12,994
– -$500 groceries– $1000 computer– $30 movies– $50 video games
• $11,414
Savings (30% of adjusted income)
Thomas• $9,334• Savings account at Bank of
America: $6,334– 0.10% APY
• Checking account at Bank of America: $3,000
Kevin
• $6,479• Savings account at Bank of
America: $4,479– .10% APY
• Checking account at Bank of America: $2,000
Remaining Income
Thomas• $20,622.25
– -$9334 savings
• $11,288
Kevin
• $11,414– -$6,479 savings
• $4,935
End
Thomas• Housing: $5,100• Healthcare: $1,488• Transportation: $120• Utilities: $1,245• Food/Furniture: $650• Extracurricular: $1850• Savings: 9,334• Remaining inc: $11,288
Kevin
• Housing: $5,100• Healthcare: $1,488• Transportation: $120• Utilities: $1,245• Food/Furniture: $650• Extracurricular: $1580• Savings: 6,479• Remaining inc: $4,935