Lifestyle Comparison, City vs Country free essay sample

Data has been collected from several sources such as multiple real estate agencies, fuel stations, transport agencies, mapping sources, grocery markets as well as different social and recreational organizations and conventions, this information will aid me to form my personal opinion on which is the better option. The criteria on which of the options stands to be ‘better option’, will be on the basis of; which provides the best financial outcome. Notes: * This report is taking the assumption that certain material possessions have already been accounted for, EG: * Car, clothes, furniture etc. The car at our disposal for the calculations of travel expenses will be the Hyundai Santa Fe Part Four, Data Analysis: The salaries of dentists in Australia varies widely, as the lowest reported income per annum is an estimated $50,800 while the highest earning dentists are in much larger figures, with $190,000 as the maximum recorded payment. $50,800 + $190,000 = $240,800 $240,800 ? 2 = $120,400~ the average salary, calculated via the values given above. We will write a custom essay sample on Lifestyle Comparison, City vs Country or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This given pay scale can be divvied into three categories in order to better represent and calculate budgets and relevant taxes. To yield more reliable results, the following tax calculations will be made under the assumption that we are earning an average pay of $120,400 per annum. Tax Calculations| | Weekly| Monthly| Yearly| Gross| (Divide yearly pay by 52)$2315. 38| (Divide yearly pay by 12)$10,033. 33| $120,400| Tax | $624. 90| $2707. 91| $32,495| Super| $208. 38| $903| $10,836| Medicare| $34. 73| $150. 5| $1,806| Net Income| $1447. 1| $6,271. 9| $75,263| Tax: $120,400 $80,000 = $40,400~taxable dollars. $40,400 x $0. 37 = $14,948 $14,948 + $17,547 = $32,495~yearly income tax. $32,495 ? 12 $2707. 91~monthly income tax. $32,495 ? 52 = $624. 90~weekly income tax. Super: $120,400 – 9% = $120,400 x 0. 09 = $10,836~yearly super payment. $10,836 = $10,836 ? 12 = $903~monthly super payment. $10,836 = $10,836 ? 52 = $208. 38~weekly super payment. Medicare: $120,400 – 1. 5% = $120,400 x 0. 015 = $1,806~yearly Medicare levee $1,806 = $1,806 ? 12 = $150. 5~monthly Medicare levee $1,806 = $1,806 ? 52 = $ 34. 73~weekly Medicare levee Net Income: $120,400 – $32,495 – $10,836 $1,806 =$75,263~yearly net income $75,263 = $75,263 ? 12 = $6,271. 9~monthly net income $75,263 $75,263 ? 52 = $1,447. 30~weekly income Expenses: Living The following rental prices are taken from multiple real estate websites, with the cheapest price as the main deciding factor. House Rentals| House #| Brisbane Prices| Address| Charleville Prices| Address| 1| $395| 8/53 Edward Street, Brisbane| $230| 169 Edward St| 2| $390| 21/204 Alice St, Brisbane| $200| 164 Galatea St| 3| $430| 460 Ann St, Brisbane| $165| 1/75 Galatea St| 4| $450| 5/204 Alice St, Brisbane| $165| 1/16 Sturt St| 5| $450| 1904/485 Adelaide St, Brisbane| $160| 7/16 Sturt St| Averages:| $423| $184| Recreational A steady amount of $150 will be deducted weekly from our overall income in order to pay for recreational activities, drinks, dinner, take-away etc. Health Insurance Health insurance is a necessity for anyone trying to save money, as it is a safety net if something is to go wrong, and medical attention is needed. Without this safety net, simple injuries such as broken bones may cost in the thousands of dollars, while serious injuries and surgeries will cost exponential amounts. For the best value and lowest price, as suggested by a comparison on iSelect. com. u, the best plan at our disposal will cost $75. 24 monthly, and cover the essentials. $75. 24~monthly health insurance $75. 24 x 12 = $902. 88~yearly health insurance $75. 24 ? 4 = $18. 81~weekly health insurance Part Five, Data Analysisamp; Comparison: Gas amp; Electricity P. A. As evidence from Switchwise. com. au suggests, an apartment style home in Brisbane with 1 bedroom amp; 1 resident average, will result in a n estimated yearly payment of $1646. This price can be altered however via an Origin energy yearly contract, which will lower this expense to $1554 p. . in a Brisbane residential apartment complex. $1,554 ? 52 = $29. 88~weekly energy/gas expenses $1,554 ? 12 = $129. 5~monthly energy/gas expenses In terms of country living, the annual cost of electricity for a house will cost $1520 at the bare minimum. $1,520 ? 52 = $29. 23~weekly energy/gas expenses $1,520 ? 12 = $126. 66~monthly energy/gas expenses Fuel With the aim of keeping this report simplified, the only fuel being analysed and recorded will be diesel. The price for diesel in Charleville, on the date of 13/5/13, is $1. 43 /L. While according to racq. com. au, the average price for diesel in Brisbane, over the course of April, was $1. 48 /L. This difference, although minimal, scales over time and will cause either substantial savings or losses over the course of say, 10 years working the same job amp; same average fuel usages. Transport To calculate the average transport expenses, the car at our disposal will be a Hyundai Santa Fe. The Santa Fe runs on diesel, and has an overall consumption of 7. 3litres/100km. This data divides into 0. 73litres/10km, and 0. 65/5km, to achieve more manageable sample sizes in order to accurately calculate the average weekly usage in both country amp; city environments. *Note: Multiple instances of the home – work drives are extremely minimal, and will therefore not be considered under fuel consumption, and merely an expense of time. Transport CONT: Diesel Consumption: House #| Kilometres| House 1| 1. 12| House 2| 1. 6| House 3| 0. 06| House 4/5| 0. 32| *miles -gt; ki lometre conversion = y X 1. 6 = z 164 Galatea St -gt; work = 0. 7miles X 1. 6 = 1. 12km 169 Edward St -gt; work = 1. 00miles X 1. = 1. 6km 71 Galatea St -gt; work = 0. 06km 16/9 amp; 16/7 Sturt St -gt; work = 0. 32km *Note: to yield an accurate fuel expense, the average distance of the five houses for both city and country will be used, and then a price for a round trip, over five times a week, plus a 20% fuel allowance for other travelling needs. Country: 1. 12km + 1. 6km = 2. 72km 2. 72 / 2 = 1. 36km 1. 36~travel distance home to work 1. 36 x 2 = 2. 72km 2. 72km x 5 = 13. 6km ~home to work amp; back, five days 13. 6 x 0. 20 = 2. 72km~fuel allowance, for other travelling needs 2. 72 + 13. 6 16. 32km~weekly travel distance 16. 32% of 100km, therefore 16. 32% of ($1. 43 x 7. 3L=$10. 43 (price for 100km worth of fuel)) $10. 43 10. 43 x 0. 1632 = $1. 70~weekly fuel expense House #| Km to work| House 1| 5. 44km| House 2| 5. 12km| House 3| 6. 72km| House 4/5| 7. 04km| City: *miles -gt; kilometre conversion = y X 1. 6 = z 53 Edward St -gt; work = 3. 4miles X 1. 6 = 5. 44km 21/204 amp; 5/204 Alice St -gt; work = 3. 2miles X 1. 6 = 5. 12km 460 Ann St -gt; work = 4. 2miles X 1. 6 = 6. 72km 485 Adelaide St -gt; work = 4. 4miles X 1. 6 = 7. 04km 5. 44 + 5. 12 + 6. 2 + 7. 04 = 24. 32 24. 32 / 4 = 6. 08km~average distance to work 6. 08 x 2 = 12. 16 12. 16 x 5 = 60. 8~home to work distance, five times per week 60. 8 x 0. 2 = 12. 16km~weekly fuel allowance 60. 8 + 12. 16 = 72. 96km~weekly fuel consumption 72. 96km = 72. 96% of 100km 72. 96% of ($1. 43 x 7. 3L=$10. 43 (price for 100km worth of fuel)) $10. 43 10. 43 x 0. 7296 = $7. 60~weekly fuel expense Grocery Essentials *The following are the prices of food essentials at the lowest offered price in their respective stores and locations, without factoring in any limited special offers.