1. Economics Project A presentation by Amy Ganz, David Fishman, and Kieu Vo Honors US History - per. 3

2. The Jahovas Ricky (father) Scarlet (mother) Taylor (11 years old) Austin (5 years old) Lucy (2 years old) Ricky and Scarlet both work full- time at Wal-Mart. Ricky works part- time at McDonalds, and Scarlet works part-time at Starbucks.

3. Taxes Gross Income = $52,525 Income Tax = $3,623.75 Federal Social Security Tax(4.2% of income) = $2,206.05 Federal Medicare (1.45% of income) = $761.61 MA State Income Tax (5.3% of income) = $2,783.83 Child Tax Credits ($1,000/child) = $3,000 Net Income = $46,149.76

4. Food Grocery = $120.69/week Take-out meal (once a month) = $100 Fast food/Snacks (twice a week)= $30 Annual cost = $9,035.88

5. Transportation Gas = $1,900/year Car Insurance = $920/year Car Inspection = $29/year Bus Fare (31-day bus pass) = $48/month Annual Cost = $3,425

6. Housing Rent = $877/month Renter's Insurance = $30/month Internet, Cable, Phone (with tax) = $120/month Electricity = $120/month Heat (for 4 months) = $275/month Additional Household Expense = $662.64 Furniture = $500 Annual Cost = $16,026.64

7. Health care Basic Health care - $743.39/month Co-pays- $30/visit (25 times a year) Annual Cost= $9,670.68

8. Clothing Clothes from Walmart = $128.88 Walmart discount = $12.88 (10%) Annual Cost = $115.99

9. Daycare Jaime Lynn Daycare - $150/week Annual Cost = $7,800

10. Personal Expenses Toys/Leisure Activities/Hobbies/Electronics/Anything non- essential - The remaining $ 75.57

11. Overall Personal expenses- 0.18% Clothing- 0.25%

12. To sum it up... sadly, $0 left of income therefore, none is left for savings or investments unrealistic to expect the average person to achieve success---not to say impossible but it would be extremely rare and difficult $19,979.76 above property line

13. Works Cited: www.peapod.com (groceries) www.rent.com www.mbta.com www.progressive.com www.walmart.com