1. Cost of Living Kayla Moore Monica Sagowitz Period 4

3. Initial Income: $40,000

4. FICA: $3,060

5. Post-Tax:$36,940

7. Initial Income: $55,000

8. FICA: $4,207.50

9. Post-Tax: $50,792

11. Savings (10% of excess income) KAYLA MOORE High Interest Saving Account at Bank of America: $ 1,0007.47 in savings annually APY: .08% Savings Account Service Charge: $144 annually FbankingAccount at Bank of America: $9,067.19 stored in bank for daily use if need be MONICA SAGOWITZ High Interest Saving Account at Bank of America: $ 1,584.05 in savings annually APY: .08% Savings Account Service Charge: $144 annually EbankingAccount at Bank of America: $14,256.47 in bank for daily use if need be Growth Cash Maximizer Savings Account PricingNo monthly service charge when you link to a Bank of America Prima® with Tiered Interest Checking account, or maintain a minimum daily balance of $2,500 or more in your account. With less than 2,500 there is a monthly service charge of $12.Ebaking AccountNo monthly maintenance fee when you choose online paperless statements, and make your deposits and withdrawals online or by ATM.

12. Housing 736 Beatty Street Furnished City: Trenton, NJ Zip Code: 08611 Housing Costs Deposit: first month's rent ($900) Renting on a month to month basis Living Cost: $10,800 annually ($900/month) Owner of apartment is paying insurance (We called number listed) Renter's Insurance Cost: Size: 2,200 square feet (.03 acres)3 story town home Street Parking 1 Bathroom 2 Bedrooms

15. $177.71/month

16. OXFORD Health Plans

17. Basic and Essential EPO

18. No Deductible health plan

19. 30% coinsurance for in-network services

20. Individual CoverageMONICA SAGOWITZ $5,184 annually $432/month Horizon Blue Cross Blue Shield of New Jersey Direct Access Plan C 100/70 (POS) Low Deductible health plan 50% coinsurance for in-network services Individual Coverage

21. Transportation Chevrolet Impala LS Engine 3.8 6 Cyl. Transmission Automatic Ext. Color: Sandrift Mileage 84,747 Lease for 1 year: $870 per person ~ 25mpg (17gal/ tank) Car Insurance: Esurance ($331.32 monthly premium, $3,975.84/ yr.) Price of Gas per Gallon: $3.85 (~ $100/ mo., $25/wk., $1200/ yr.)

23. Utilities Utilities (Calculated on Annual Basis, Shared Cost) Electricity: $1,200 ($80/mo for Oct-Feb and $120/mo for Mar-Sep) Water: $460 Trash/Recycling: $280Gas: $1,080 ($90/mo) Verizon Wireless Unlimited Talk and Text Plan: $89.99 each ($180 total) Internet: $360 ($40/mo) Security System: ($450 installation + $2,160 annually= $2,610 )Bedding: $ 150 each ($300 total) Total: $6,190 annually

24. Food Kayla Groceries: $210/mo ( $2,520 annually) Monica Groceries: $210 per month / 2,520 annually Eating out: $50 per month/ $600 annually

25. Extracurricular Activities Kayla Moore Clothing: $4,000 annually Hair/ Beauty Product: $500 annually Insanity Work-out Porgam: $119.85 single payment Monica Sagowitz· Clothes: $4,000 annually· Netflix account: $13 per month, $156 annually

26. Totals Kayla Moore Initial Disposable Income:$31,357 Expenses: $107.40 bank account fee $1,007.47 in savings account $144 service charge $5,040 housing $2,132.52 health care $870 car lease-$600 gas $165.66 premium $1,987.92 car insurance $2,520 food $4,000 clothes and products $500 hair $119.85 work out $3,095 utilities

27. Totals Monica Initial Disposable Income:$40,310.50 Expenses: $107.40 bank account fee $ 1,584. 05 in savings $144 service charge $5,040 housing $5,184 health care $870 car lease $165.66 premium $600 gas $1,987.92 car insurance $3,120 food $4,000 clothes $156 netflix $3,095 utilities = $14,256.47 final excess income

28. Analysis I always knew that being financially independent would be both complicated and challenging, but I did not realize how much so. I was for some reason under the impression that taxes consumed only a small amount of my income and that the majority of my income went towards expenses/recreational spending. After filling out the 1040 ez, FICA, Medicare, and Social Security I have realized how huge of a financial responsibility I owe to the government. It fueled a curiosity in me to ask my parents what percentage of their income goes to taxes/government, which caused a discussion about fiscal responsibilities. Also, when imagining myself being independent, I never took the “little matters” into account. I knew of course that I would be paying for my rent, electricity, car insurance, gas, etc… but I forgot to think of the smaller responsibilities such as haircuts, groceries, and movie rentals. It was surprising to see that roughly 6% of my income was being spent on food! It was even more surprising to me that almost $800 was allotted to trash, recycling, and water – things that I inevitably took for granted due to my parents. Health care is a concept that I thought I was fairly familiar with until I took on this project. I didn’t realize that health care costs differ dramatically from state to state. I was assigned to live in Trenton, New Jersey and the cheapest, reasonable health care plan I could find ran for around $180 per month. I looked up health care plans in California out of curiosity and was shocked to see that I could find a reasonable health care plan there for only $45 per month!

29. Works Cited "736 Beatty St, Trenton, NJ 08611 MLS# 5885966 - Zillow." Zillow - Real Estate, Homes for Sale, Home Prices & Values. Web. 08 June 2011. <http://www.zillow.com/homedetails/736-Beatty-St-Trenton-NJ-08611/39023393_zpid/>."All About Apartment Utilities. " Apartment Living. Web. 08 June 2011. <http://movingtoanapartment.com/.../all-about-apartment-utilities.htm>. "Average Electric Bill in NJ? (how Much, Homes, Theater) - City-Data Forum. " Stats about All US Cities - Real Estate, Relocation Info, House Prices, Home Value Estimator, Recent Sales, Cost of Living, Crime, Race, Income, Photos, Education, Maps, Weather, Houses, Schools, Neighborhoods, and More. Web. 08 June 2011.http://www.city-data.com/forum/new-jersey/470693-average-electric-bill-nj.html .Bank of America | Home | Personal. Web. 08 June 2011. <http://www.bankofamerica.com>.Contributor, Aol Jobs. "10 Cool Jobs That Pay More Than You Think - Careers Articles." Jobs, Careers, and Job Listings - AOL Jobs. Web. 08 June 2011. <http://jobs.aol.com/articles/2008/12/10/10-cool-jobs-that-pay-more-than-you-think/>.Find Insurance Options. Web. 08 June 2011. <http://finder.healthcare.gov/more_info/ihi_ajax_or_no_ajax?audience=hthy>."Home Security System Prices. Alarm Monitoring Costs. " Security Systems.Net: Security System Reviews, Prices and Buying Guide. Web. 08 June 2011.http://www.securitysystems.net/prices.php ."Insanity Workout - Extreme Home Workout DVD - Insanity Workout Reviews - Beachbody.com." Workout Videos & Home Fitness Programs - Beachbody.com. Web. 08 June 2011. <http://www.beachbody.com/product/fitness_programs/insanity.do?mr:trackingCode=536BB1C2-E1E9-DE11-974B-0019B9C043EB>.