Comparing Cost of Living

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Comparing Cost of Living

September 28, 2007

LAST week the U.S. media was awash with news that the dollar had reached a new low against the ever-strengthening Euro. On Tuesday the euro reached a record high against the dollar, trading at $1.4154.

So while the Celtic Tiger economy in Ireland is booming, the Irish Voice decided to see whether living in the green isle makes more financial sense, or are we better off where we are?

For the purpose of this article, we will explore two different scenarios. Firstly, we will delve into the spending world of Lisa, who is 28, single and lives in Queens, and we will compare it to Lisa, who is 28, single and lives in Galway.

Then we will look at the spending habits of Brian and Bernie, parents of three children who live in Yonkers, and we will contrast their expenditures to Brian and Bernie who live in Kerry.

For the purpose of this comparative piece, we have provided all prices in dollars. We exchanged the euro for the dollar at the current rate at time of print — €100 = $141. We have also added on sales tax to the items for final price.

SCENARIO ONE

Lisa in the U.S.

LISA currently lives in Queens. It’s rent week and she pays $600 for a two-bedroom apartment that she shares with her best friend.

Lisa is a waitress in Manhattan. Although she only earns $40 a shift ($200 a week) she makes an average of $120 a day on tips. Lisa earns $800 on average a week before tax.

After a year of waitressing, Lisa decides it’s time to get a car. After pricing around she settles on a fancy Audi TT Coupe for $45,027. She will pay it off over a 10-year period.

On Fridays Lisa meets her girlfriends for a movie. She pays $11 in Times Square and an additional $10.50 for a large popcorn and coke (she shares with her friend).

On Saturday’s Lisa usually gets her weekly groceries in Stop ‘n’ Shop. She buys Head and Shoulders shampoo 420ml ($5.99), a large Haagan Dazs raspberry flavored ice-cream ($4.19), a large five cheese Brickoven pizza ($5.99), a country friend Boston Market dinner for one ($4.39) and a small bunch of flowers for her sick neighbor ($6.99).

The total of Lisa’s shopping was $29.89 including tax.

Lisa pops to Macy’s to purchase some make-up. She decides on a Clinique foundation for $21.15, and after a trip to the women’s department she returns to her new Audi with a pair of Victoria Beckham jeans, which set her back $151.19.

Saturday night Lisa meets her friends in a bar in Woodside where she pays $4 for a Smirnoff ice. When she gets out of the bar at 3:30 a.m. she lines up at the chipper van for a burger and curry fries. She pays $7 and leaves a $13 tip because she forgets her change!

On Sunday, after attending Mass of course, Lisa meets up with her best friend and they treat themselves to an afternoon of pampering. They drive to the city, with the top down on the new Audi, and each have an hour-long massage. Lisa treats her friend and pays $200 for the both of them.

Lisa in Ireland

Lisa currently lives in Galway. It’s rent week and she pays $633 for a two-bedroom apartment that she shares with her best friend.

Lisa is a waitress in Galway city. She earns the minimum wage in Ireland, $12.18 (€8.65). She earns approximately $30 a day on tips. Lisa earns $698 on average a week before tax.

After a year of waitressing, Lisa decides it’s time to get a car. After pricing around she settles on a fancy Audi TT Coupe for $78,177. She will pay it off over a 10-year period.

On Fridays Lisa meets her girlfriends for a movie. She pays $12.50 in Galway city and an additional $13.05 for large popcorn and coke (she shares with her friend).

On Saturday’s Lisa usually gets her weekly groceries in Dunnes Stores. She buys Head and Shoulders shampoo 400ml ($8.43), a large Haagan Dazs raspberry flavored ice-cream ($8.43), a large five cheese Chicago pizza ($4.21), a chicken curry St. Bernard dinner for one ($2.49) and a small bunch of flowers for her sick neighbor ($5.62).

The total of Lisa’s shopping is $29.18.

Lisa pops to Brown Thomas to purchase some make-up. She decides on a Clinique foundation for $38.73, and after a trip to the women’s department she returns to her new Audi with a pair of Victoria Beckham jeans, which set her back $556.

Saturday night Lisa meets her friends in a bar in Eyre Square in Galway city where she pays $7.74 for a Smirnoff Ice. When she leaves the bar at 3:30 a.m. she lines up at the chipper van for a burger and curry fries. She pays $13.85. She doesn’t leave a tip.

On Sunday, after attending Mass of course, Lisa meets up with her best friend and they treat themselves to an afternoon of pampering. They drive all the way to Killarney to the Molton Brown spa, with the top down on the Audi, and each have an hour-long massage. Lisa treats her friend and pays $225 for the both of them.

Leaving out the price of the car, Lisa living in the U.S. spent $1,034.89 (€ 732.58) on her weekend activities and bills, and Lisa living in Ireland spent $1,529 (€ 1,085).

SCENARIO TWO O’Connors in the U.S.

BRIAN and Bernie O’ Connor live in Yonkers and moved to the U.S. before their first child Aaron was born. They have three sons.

They recently purchased a new home on Delano Avenue in Yonkers. A two-bedroom home with a basement, deck, backyard and driveway set them back $450,275. They took out a mortgage for 35 years.

At the beginning of the year the family purchased a ‘07 Volkswagen Jetta, and after shopping around they found a nice 1.6-liter car for $16,907 in a car dealer on Central Avenue in Yonkers. The O’Connor’s recently took a trip to Sears and purchased a Samsung 42” plasma television for $1,626.

Brian, on his way to work every morning, buys a cup of tea and a scone in the Irish Bakery in Woodlawn for $1.70 and picks up The New York Times for $1.25 across the road in C-Town.

Most Saturday nights Bernie and Brian leave the kids with a friend and go for dinner in Fitzy’s bar and restaurant on McLean Avenue. They pay $32.50 for two salmon dinners. They usually tip $6..

On Sunday morning they hit Eileen’s Country Kitchen on McLean with the kids. They each pay $7.95 for an all-the-trimmings Irish breakfast and they get the kids sausages and toast.

Most Sunday afternoons, they go to Blockbuster and hire a cartoon for the kids. It costs $5.69.

Every now and then Bernie will sneak away to get her hair colored, cut, washed and blow-dried. It normally costs her $100 in Halo on Martha Avenue in Yonkers.

Once on the way home she stops off at Macy’s and picks up Brian a Ralph Lauren sweater, which costs her $64.50, and pops into the A&P for a large pack of diapers ($ 11.38), 12 pack of toilet rolls ($7.25) and a sneaky 20 packet of Marlboro Lights that she’ll need to hide from Brian for $5.48.

O’Connors in Ireland

BRIAN and Bernie O’ Connor live in Co. Kerry. They have three sons.

They recently purchased a new home in Ardfert, on the outskirts of Tralee, for $443,700. It is a two-bedroom cottage with a backyard and driveway on a 0.75-acre site. They took out a mortgage for 35 years.

At the beginning of the year the family purchased a ‘07 Volkswagen Jetta, and after shopping around they found a nice 1.6-liter car for $33,207 in a car dealer in Tralee.

The O’Connor’s recently took a trip to Curry’s and purchased a Samsung 42” Plasma television for $1,716.

Brian, on his way to work every morning, buys a cup of tea and a scone in the Gala shop in Mounthawk in Tralee for $2.11, and picks up The Irish Times for $2.39.

Most Saturday nights Bernie and Brian leave the kids with a friend and go for dinner in O’ Donnell’s bar and restaurant on the Ardfet road. They pay $47.75 for two salmon dinners. They usually tip $3.

Every now and then they drive to Miltown Malbay, Co. Clare to visit relations and they have breakfast in O’Loughlans restaurant. They each pay $12.63 for an all-the-trimmings Irish breakfast and they get the kids sausages and toast.

Most Sunday afternoons, they go to Xtra vision and hire a cartoon for the kids. It costs $6.33.

Every now and then, when Bernie is visiting her best friend in Longford, she will get her hair colored, cut, washed and blow-dried. She loves Grafters hair salon in Longford town and usually pays $110.

Once on the way home she stops off at Brown Thomas and picks up a Ralph Lauren sweater for Brian which costs her $169, and pops into Quinnsworth store for a large pack of pamper diapers ($20.61), 12 pack of toilet rolls ($4.85) and a sneaky 20 packet of Marlboro lights that she’ll need to hide from Brian for $9.88.

Leaving out the price of the car and the house, Brian and Bernie living in the U.S. spent $1,869.70 (€1,332.20) on their week’s spendings, and Brian and Bernie living in Ireland spent $2,104.55 (€1,489.36).

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