So, you’ve finally made it to New York. It is one of the most beautiful cities in the world. It also has a plethora of career opportunities for everyone, irrespective of their educational background.
However, NYC is also one of the most expensive cities in the world. But, with the right tactics in place, you can significantly reduce your expenses and live the New York City life on a budget.
In this article, we will discuss the five best ways to live in New York on a low budget. Let’s get started.
1. Look for Cheap Rooms
There are plenty of rooms for rent in Manhattan. And the most efficient way to cut down on your expenses is by reducing your rent. You can do that by choosing a no-fee or rent-stabilized apartment.
Did you know the average rent in New York across housing sizes is more than $3,500? In luxury areas, it could cost more than $4,200 per month.
Another way to reduce the rent is by finding a roommate you can share the rent with. If you still want to stay alone, consider looking for apartments in more affordable neighborhoods of NYC like Staten Island and The Bronx.
2. Avoid Taxis as much as possible
Transportation could take a huge chunk of your budget if you haven’t planned it thoroughly. Therefore, make sure not to take taxis. They are expensive and not worth much. Instead, take public transport or even walk as many places as possible—every $5 and $10 matters in NYC. In fact, it can get you a nice meal on the street side.
We recommend taking the subway or the bus to go places. Or you can consider taking the bike on rent for as low as $12 per day. Bike lanes are present throughout the city, making it one of the safest and cheapest transportation.
3. Shop at Local Markets
Grocery shopping is a necessity. However, shopping in the supermarkets could be costly. Therefore, try shopping at local markets to find cheaper produce. Doing that could help you save as much as $50 per month.
Another benefit of shopping at local markets is that it prevents overspending. Most of us purchase things we don’t actually need just because we see them on the shelves.
Or, if you still want to shop at supermarkets, make a list before you go out. This will minimize rapid purchases, saving you lots of money in the long run.
4. Don’t Eat out daily
While it’s easy to feel like eating outside every day, especially since New York has cuisines from across the world, however, it could be very expensive. In fact, it could quickly take up your budget before you even realize it.
If you don’t know how to cook, you can learn it from YouTube. Of course, it will take some practice to get perfect, but it’s something that can help hundreds of dollars every month. You can even consider purchasing quick-to-make food so you can eat it even when in a hurry.
5. Reduce Entertainment costs
New York has plenty of entertainment options: from movies to sports to racing. In addition, there are several museums and And, it feels like you should go to every place.
However, plan it before you overspend. You can visit one place in a month. Or watch for free summer concerts, visit attractions that offer a name your own price option, or get discount tickets to see shows on broadway.
This will help you reduce entertainment costs while still enjoying New York city life.
Conclusion
As mentioned above, New York is one of the most expensive cities to live in. However, with the right strategies in place, you can significantly lower your cost of living. Make sure to follow our tips, and you will definitely save hundreds of dollars every month.
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