The document provides details on the cost of living in Minneapolis for two individuals, Sophia and Tao, including their incomes, taxes, healthcare costs, housing expenses, utility bills, transportation, food costs, and extracurricular activities. It calculates their annual budgets and savings. Sophia has a higher income of $41,907 after taxes and expenses, allowing savings of $20,985. Tao has a lower income of $29,665 after taxes and expenses, allowing savings of $12,713.
8. Housing ExpensesRent $750 per monthDeposit $750Furniture: $1200Refrigerator: $700TV: $340Total Expenses:$2,990Total rent: $375 per person per month
9. Utility BillsWater and Electric bills: $72.86 per person per monthWaste fee:$23.00 per person per monthCell phone: Go-phone $300.00 per person per yearInternet: DSL, $29.00 per monthTotal Fees: $135.35 per person per month
11. Food for Sophia$120 per week for Groceries$70 to go out per weekTotal Food Expenses: $9,120 per year
12. Food for TaoGroceries /eat at home: $3600 per yearRestaurant Dinning $1000 per year (Avoid mostly)Food related supplies (paper towels, eating utensils): $200 per yearTotal food Expenses: $4800 per year
14. Extracurricular Activities: TaoVideo Games: $400 per yearClothing: $1000 per yearMovies: $200 per yearGeneral Shopping: $600 per yearSpecial Occasions: $300 per yearCostco Membership: $100 per year
15. Sophia’s Financial overview per year Net Income: $41,907Healthcare: -$810Annual Rent: -$4500 Housing Fees: -$1495Utility Fee: -$1624.3Public Transportation:-$912Food: -$9,120Extracurricular: -$2460.88Money Left: $20,985 = Total Savings
18. Tao’s SavingsMoney left: $12,713.7Savings account: $6,356.85Bank of America interest: 1.9%Checking account:$6,356.85
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