1. The Cost of Living:Charleston, South Carolina Adventures of the Typical Medical Residents: Michelle Michelson & Hye Hyun Bahng

2. Location Charleston, South Carolina

3. Total Income: Initial and Post-Tax Michelle Occupation: Medical Resident Initial Income: $45,000 FICA: $3442.50 Post-Tax: $37,870.00 Total: $34,427.50 Hye Hyun Occupation: Medical Resident Initial Income: $40,000 FICA: $3060.00 Post-Tax: $34,137.00 Total: $31,077.00

4. Savings Michelle (20% of adjusted income) $7,065.50 Saving’s account at Bank of America: $5,000.00 Checking account at Bank of America: $2,065.50 Hye Hyun (10% of adjusted income) $3180.00 Saving’s account at Bank of America: $2100.00 Checking account at Bank of America: $1087.70

5. Remaining Income Michelle $34,427.50 - $7,065.50 (Savings) = $27,362.50 Hye Hyun $31,077.00 - $3180.00(Savings) = $27,897.00

6. Housing 2235 Ashley Crossing Drive City: Charleston (7.4 miles from Medical University of South Carolina) Zip Code: 29414

7. Housing Costs Rent Term: 13 months Deposit: $87.50 Living Cost: $11,580 annually Renter’s Insurance cost: $144 annually Size: 937 square feet 2 bedrooms 2 baths

9. Garbage disposal

10. All electric kitchen

11. Carpeted flooring

12. Walk – in closet

13. Clubhouse

14. Business Center

15. Car care center

16. Private Health Club

18. Healthcare BlueCross BlueShield of SC Michelle $1,800 annually $150/month/per person Personal Blue Secure SE BlueCross BlueShield Plan High deductible health plan ($5,250) Co-pay - $40 primary care physician 50% Coinsurance for in-network services Individual coverage Hye Hyun $1,800 annually $150/month/per person Personal Blue Secure SE BlueCross BlueShield Plan High deductible health plan ($5,250) Co-pay – $40 primary care physician 50% Coinsurance for in-network services Individual coverage

19. Remaining Income Michelle $28,565.50 - $1800 (Healthcare) = $26,765.50 Hye Hyun $25,171.25 - $1800 (Healthcare) = $23,371.25

20. Transportation Lease for 4 years: $2138.28 per person/year Car Lease: Toyota Prius $356.38/month Car Insurance: Geico, $838.08 annually, $69.84 on a monthly basis Price of Gas Per Gallon: $3.466 Roughly estimated 5 gallon usage: $17.33/week $450.58 a year for gas per person

21. Remaining Income Michelle $26, 765.50 - $2138.28 (lease payment) – $419.04 (insurance) - $450.58 (gas) = $23, 757.60 Hye Hyun $23,371.25 - $2,138.28 (lease payment) – $419.04 (insurance) - $450.58 (gas) = $20, 363.35

22. Utilities(Calculated on Annual Basis, Shared Cost) Electricity: $401.29 Water: $256.08 Gas: $239.88 Phone: $1,200 Internet: $840

23. Remaining Income Michelle $23, 757.60 - $200.65 (electricity) - $128.04 (water) - $119.94 (gas) - $600.00 (phone) - $420.00 (internet) = $22, 288.97 Hye Hyun $20, 363.35- $200.65(electricity) - $128.04 (water) - $119.94 (gas) - $600.00 (phone) - $420.00 (internet) = $18,894.72

24. Food/Furniture Michelle Food: $7,000/year Household Furniture: $500 (split cost) TV: $119.50 (Sharp 22" LC22SB27UT Widescreen LCD HDTV, split the cost) Household Supplies: $300 Hye Hyun Food: $8,000/year Household Furniture: $500 (split cost) TV: $119.50 (Sharp 22" LC22SB27UT Widescreen LCD HDTV, split the cost) Household Supplies: $300

25. Remaining Income Michelle $22,288.97 - $7,000 (food) - $500 (furniture) -$119.50 (TV) - $300 (household supplies) = $14,369.47 Hye Hyun $18,894.72 - $8,000 - (food) - $500 (furniture) -$119.50 (TV) - $300 (household supplies) = $9,975.22

26. Extracurricular Activities Michelle Clothes: $5,000 Electronics: $500 Travel, Vacation: $4,000 Musicals/Concerts/Movies: $1,000 Hye Hyun Clothes: $3,500 Electronics: $500 Travel, Vacation: $4,000 Musicals/Concerts/Movies: $1,000

28. Bibliography (continued) Size, Screen. "Small Flat Screen TV - Hotel and Resort Travel Deals." Nextag - Compare Prices Before You Buy. Web. 08 June 2011. <http://www.nextag.com/small-flat-screen-tv/products-html>. "South Carolina Electric and Gas Company." Web. 1 June 2011. <http://www.sceg.com/NR/rdonlyres/7E39B8E5-B278-4489-B8F0-FD754D65F962/0/Rate1.pdf>. "This Is My Plan." BlueCross. Blue Cross. Web. 03 June 2011. <http://southcarolinablues.com/UserFiles/scblues/Documents/Visitors/Personal_Blue_Secure_brochure.pdf>. "Toyota Prius Lease Calculator." New Cars, Used Cars For Sale, Car Prices & Reviews at Automotive.com. Toyota, 2011. Web. 08 June 2011. <http://www.automotive.com/default.aspx?BGUCNavSection=pricing>.