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  • 1.Cost of Livingin Minneapolis
    Tao He
    Sophia Ziogas

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
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
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
7. Housing
Ulyssess Manor
1835 Ulysses Street Northeast Minneapolis, MN 55418 (2 beds, 1 bath, 755 square feet)
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
10. Transportation
Metro-pass for Trains and buses $76 per month
$912.00 per year per person
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. Sophias Financial overview per year
Net Income: $41,907
Healthcare: -$810
Annual Rent: -$4500
Housing Fees: -$1495
Utility Fee: -$1624.3
Public Transportation:-$912
Food: -$9,120
Extracurricular: -$2460.88
Money Left: $20,985 = Total Savings
16. Sophias Savings
$20,985 left
Savings account: $10492.5
Bank of America interest: 1.9%
Checking account:$10492.5
17. Taos Financial overview per year
Net income: $29,665
Healthcare: -$1020
Annual Rent: -$4500
Housing Fees: -$1495
Utility Fee: -$1624.3
Public Transportation:-$912
Food: -$4800
Extracurricular:-$2600
Money left:$12713.7 = Total Savings
18. Taos Savings
Money left: $12,713.7
Savings account: $6,356.85
Bank of America interest: 1.9%
Checking account:$6,356.85
19. Work Cited
"Bank of America | Please Select Your State." Bank of America | Home | Personal. Web. 01 June 2011. .
"Blue Cross Blue Shield of Minnesota Questions." Blue Cross and Blue Shield of Minnesota. Web. 01 June 2011. .
"City of Minneapolis: Recreation." City of Minneapolis, Minnesota - Official Web Site. Web. 01 June 2011. .
"FICA & SECA Tax Rates." The United States Social Security Administration. Web. 01 June 2011. .
"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. .
Minnesota Department of Revenue. Web. 01 June 2011. .
"Passes & Go-To Cards - Metro Transit." Home - Metro Transit. Web. 01 June 2011. .
"Prepaid Phone Deals and Packages - Shop - Wireless from AT&T." Cell Phones, Cell Phone Plans, & Wireless Accessories - from AT&T. Web. 01 June 2011. .
"Ulysses Manor in Minneapolis, MN." Apartments for Rent & Homes for Rent - Rent.com Apartment Finder. Web. 01 June 2011. .