We found 3 Tips on How to Survive New York City with a tight budget.
New York City was always associated with high class and represented lifestyle and money. In the same fashion, the city also provided a vast range of choices in architecture, culture, music, and entertainment. I came to visit New York City for the first time in 1983. It was at that moment I told myself; I want to make it in New York and make it my home. I need to survive in New York City.
The Reality of a Roaring City and 3 Reasons to Plan Well in order to Survive New York City
New York comprises of 5 boroughs connected by the Hudson River into the Atlantic Ocean. The city boasts a high level of density with over 8 million in population. As a result, the city of New York also incurs a high level of cost in Real Estate, Food, and Night Life Entertainment.
Real Estate Prices
Real Estate companies here in Manhattan live in a very volatile environment with an aggressive market. Studies made comparisons of New York with San Francisco, Chicago, Los Angeles, and Miami and found NYC to be one of the most competitive of all. According to Megan Durisin of Business Insider:
“Although it’s still probably the norm for a person in their late 20s or early 30s to be renting in New York City, buying real estate has become a more attractive prospect for people nationwide — and that includes New York City.”
There are people who find a job where their company covers the cost of both doing business and having fun. Unfortunately, you cannot allocate more than $350 / month in entertainment. For us, it was an $87 weekly budget we could use for dinner @Broadway and 178th or bowling in Times Square.
Food and Restaurants
You must be ultra-conservative with your expenses to survive in the Big Apple. My wife is a huge advocate of good life and healthy eating. With that said, it is a bit challenging to keep a healthy diet with a $25k salary considering all your fixed expenses.
My friends and I grew up always dreaming of the big city. We fell in love with iconic structures like the Statue of Liberty, Empire State Building, and Times Square. Thanks to a plan and a budget, we could tackle the price of food, the high cost of rent, and managing the entertainment under budget.