LOS ANGELES, CASayaka Yoshikawa and Vivian Lu

Location

Los Angeles, CA

Background InformationVivian Lu Occupation: Pilot Initial Income: $45,000 FICA: $2,542.50

o Social Security: 4.2%o Medicare: 1.45%

Post-Tax: $37,562 Total Net Income: $35,019.50

Sayaka Yoshikawa Occupation: Flight Attendant Initial Income: $45,000 FICA: $2,542.50

o Social Security: 4.2%o Medicare: 1.45%

Post-Tax: $37,562 Total Net Income: $35,019.50

Basic SuppliesVivian Lu Food: $7,000 Household Furniture: $1,755 Household Supplies: $500 Computer: $999

Total: $10,254Remaining Income:$24,765.5

Sayaka Yoshikawa Food: $7,000 Household Furniture: $1,755 Household Supplies: $500 Computer: $999

Total: $10,254Remaining Income:$24,765.5

Extracurricular ActivitiesVivian Lu Clothes: $400 + $100 (pilot

uniform repair) Gym Membership: $0 (we ride

bicycle and run every morning)

Movies: $32 (Costco discount tickets)

Travel, Vacation: $0 (we travel all the time for profession)

Books: $100

Total: $632Remaining Income: $24,133.5

Sayaka Yoshikawa Clothes: $400 + $100 (flight

attendant uniform repair) Gym Membership: $0 (we ride

bicycle and run every morning)

Movies: $32 (Costco discount tickets)

Travel, Vacation: $0 (we travel all the time for profession)

Books: $50

Total: $582Remaining Income: $24,183.5

HealthcareVivian Lu Vital Shield 900 $1308 annually + $900

deductible = $2208 annually $109 monthly per person $900 deductible annually 40% of coinsurance for in

work services individual coverage

Total: $2208

Remaining Income: $21,925.5

Sayaka Yoshikawa ClearProtection Plus 1000 $1128 annually + $1000

deductible = $2128 annually $94 monthly per person $1000 deductible annually 40% of call insurance for in

work services Individual coverage

Total: $2128

Remaining Income: $22,055.5

Housing (Shared Cost)Location: 3620 West 102nd Street Inglewood Los Angeles 90303

Housing Cost: Lease Term: 12 months Rent: $1025 Size: 1000 Square Ft Description of the House:

o 2 bedroomso 1.5 bathroomso Cable and satellite readyo Carpetingo Ceiling fano Garbage disposalo Community poolo Assigned parking loto Community laundry roomo Controlled access entry (gates and fences)

Housing (Pictures)

SayakaRemaining Income: $21,543

VivianRemaining Income: $21,413

Taxation

See the 1040 EZ form embedded on our Wiki.

TransportationVivian Lu bicycle - Huffy 26-inch Ladies Cruiser Deluxe Bike (Rasberry) $119.99 (from Target.com) 25 min to LAX (our work place)

Sayaka Yoshikawa bicycle - Huffy 26-inch Ladies Cruiser Deluxe Bike (Rasberry) $119.99 (from Target.com) 25 min to LAX (our work place)

During Weekends Public Transportation (amtrak, public bus): Vivian: $240 Sayaka: $240

SayakaRemaining Income: $21,103.01VivianRemaining Income: $20,973.01

Utilities(calculated on an annual basis, shared cost)

Electricity: $964.20 Water: $585.00 Gas: $507.08 Internet: $460.80 Phone:

o Vivian: T-mobile $719.88 (2-year plan)o “T-Mobile® my Touch™ 3G Slide – Black” (FREE)

o Sayaka: Sprint $599.88 (2-year plan)o “Samsung Transform” ($49.99)

SayakaRemaining Income: $19,194.6

VivianRemaining Income: $18,994.59

SavingVivian Lu Bank of America Monthly saving: $833.33 Saving account: $10,000 APY: (.45%) Checking account: $8,994.59

Sayaka Yoshikawa Bank of America Monthly saving: $833.33 Saving account: $10,000 APY: (.45%) Checking account: $9,194.60

***Remaining Income from previous subtractions are all added to our bank.

ConclusionAmong the things we learned through the project The Living Cost of Income are how to calculate our actual taxation based on income, the way to look for a house with an appropriate rent, an ability to consider and care about every possible detail, and more. We sometimes got confused and stuck, for this was our first time experiencing calculating the actual cost of living; however, we sought for help and finally completed the tasks. We also learned how to compromise our living standards and different living habits in order to virtually live together. We had difficulty figuring out the economic framework of our society, especially the system of taxation(1040EZ), but we are glad that we completed this project because now we know how to calculate and use 1040EZ and do not have to worry about it after graduating college.

Works CitedApartments for Rent & Homes for Rent - Rent.com® Apartment Finder. Viva Group, Inc., 2011. Web. 01 June 2011. <http://www.rent.com/account/myrent/view>.

Bank of America | Home | Personal. Bank of America Corporation, 2011. Web. 07 June 2011. <https://www.bankofamerica.com/>.

Cell Phones| 4G Cell Phone Plans |Android Tablet PCs| T-Mobile. T-Mobile USA, Inc, 2010. Web. 08 June 2011. <http://www.t-mobile.com/>.

Cell Phones, Mobile Phones & Wireless Calling Plans from Sprint. Sprint, 2010. Web. 03 June 2011. <http://www.sprint.com/index_c.html>.

Individual Health Insurance Quotes, Information and Advice. HealthCare.com Inc., 2009. Web. 02 June 2011. <http://www.healthcare.com/>.

"MacBook Air - The next Generation of MacBooks." Apple. Apple Inc., 2011. Web. 03 June 2011. <http://www.apple.com/macbookair/>.

"Social Security Update 2011." The United States Social Security Administration. USA.gov, 09 Feb. 2011. Web. 06 June 2011. <http://www.ssa.gov/pubs/10003.html>.

Target.com - Furniture, Patio, Baby, Toys, Electronics, Video Games. The Bullseye Design and Bullseye Dog Are Trademarks of Target Brands, Inc., 2011. Web. 01 June 2011. <http://www.target.com/>.