125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Living Wage Notes - 2000 Study


Rent

We used HUD's fair market rent, which is $504 for 2001 for Tompkins County and includes all utilities except telephone (discussed later).

Source: HUD website - http://www.huduser.org/datasets/fmr.html - download the final fair market rents, and look in it for Tompkins County

Transportation

According to Ithaca-Tompkins County Transportation Council, 81.4% of TC residents use private transportation, 1.2% use public, 8.1% walk, 2.3% bike, 7.0% other.

People using public transportation would be $0.75 each ways $7.50 per week, plus 3 other trips for shopping, giving a total of $12/week or $48/mo or $576/year.

WOW estimated that to have a car would cost $2,220.

Claritas estimated $33 per year expenditure for bicyclists.

And we assume that walking incurs no extra costs.

A weighted average can be computed like this:

(.814)(2220) + (.012)(576) + (.081)(0) + (0.023)(33) to get an average of $1,814.75

Sources: WOW Self-Sufficiency Study, Ithaca-Tompkins County Transportation Council, Bureau of Transportation Statistics website - www.bts.gov, Claritas Spending Patterns Survey.

Food

Low-cost plan from USDA Food Stamp Program for ages 20-50 is (monthly) for males $162.50 and for females $142.10 - the average is $152.30 (in October 2000).

Source: USDA Food Stamp Website - http://www.usda.gov/cnpp/using3.htm

Telephone

$25.97 from Verizon for unlimited local service.

Source: Verizon - 1-800-555-5000

Health Care

Health Insurance Premiums 2001

Univera (PHP)

Individual coverage $2700 Staff pays 25% =$675=56.25/mo

Blue Cross/Blue Shield $3300 Staff pays 25% = $825=68.75/mo

Univera (PHP) has a prescription plan. You pay $10 for generic prescriptions. You pay $20 for name brand if it is on the formulary. If the drug is not on the formulary, you pay the co-pay and the difference of the generic and the non-generic versions.

Univera (PHP) copay - you pay $15 for office visits. You must have a plan doctor. If you go to a different dr. you must have a referral from your plan Dr.

We decided that 4 visits average per year would be reasonable

$675 (plan)

+ $ 60 (co-pay for 4 visits)

+ $29.60(glasses)

+ $132.80(dental)

+ $55.20(non-prescrip)

+ $40 (prescrip.)

= $992.60 annual

= $82.72 mo.

Source - Sharon Kinnan, HR Manager and Claritas Spending Patterns Survey for Tompkins County

Recreation/Entertainment

We used Claritas estimates. It was difficult to decide exactly which categories to include, but we used expenses such as reading materials, radio/TV equipment, fees/admissions, money for lodging while out of town and airline expenses for trips, and other entertainment. The final total came out to $107.23 per mo. or $1,286.76

Source: Claritas Spending Patterns Survey for Tompkins County

Savings

We kept the figure from previous studies of $50 per month.

Misc

We again used Claritas, and put in clothes (average of male and female apparel and footwear spending), personal care items, housekeeping and garden, major appliances, furniture, small appliances, and miscellaneous household equipment. This came out to $1,263.47 per year plus taxes ($101.08) so $1,364.55 per year, or $113.71 per month.

Source: Claritas Spending Patterns Survey for Tompkins County

Taxes

These were calculated using a spreadsheet given to us by our CFO.

Source: Gerry Ruggiero, CFO

Other Figures

Day care - WOW study - infant = $422/mo.

preschooler = $459/mo.


Online Access

eStatements Prior to Dec. 2012 »

Loan Rates
Deposit Rates


Donate »

Your gift to Alternatives Impact helps our community!

Rachel Fives

Oh, my goodness, where do I even begin? We renovated our house (home equity loan), started a business (commercial loan) and refinanced our house over the last few years. Alternatives has been there with us every step of the way! We have learned so much, with the help of the Alternatives staff and we're not done yet! We adore our partners at Alternatives and can't thank them enough for the support, planning assistance, and encouragement they've provided. Wow - what a fabulous community resource!


Alternatives
Financial
Education »

Discover how you can gain control of your finances...



Alternatives Federal Credit Union ("Alternatives") provides a hyperlink to Google Translate� for convenience only and without any responsibility for the accuracy of translations. Alternatives has no control over this unrelated, free and entirely computerized translation program. Computerized translations are only an attempted approximation of the website�s original content and thus Alternatives makes no representations or warranties of any kind with respect to the accuracy, reliability or completeness of any translations. Persons using translated information do so at their own risk.