8 Tips to Live on a Budget in New York City

How can one live on a budget in New York City?

New residents to NYC discover quickly that living expenses in The Big Apple are significantly higher compared with other cities they’ve lived in. Just leaving your house can make it feel like money mysteriously disappears from your pocket or bank account.

“Wait, that salad was how much?” or “How did I spend $20 on transportation today?” may sound familiar to you. But the good news is that even though it’s notoriously expensive, there are ways to love on a budget in New York City.

Whether you’re trying to plan for your move or you’ve been in NYC for a while, searching for tips on how to save money while living there is always smart. Sometimes, it may even be necessary to use some of these tips, as the cost of living in NYC is one of the highest in the world.

Here are 8 tips that can help you live on a budget in New York City!

1. Say “no” to taxis

If you want to spend less in New York City, take public transit. Or, better yet, walk as much as possible. What may seem like nickels and dimes eventually add up—$10 here, $15 there, and before you know it, you’ve already spent the amount of your TV cable or cell phone bill on cabs.

That’s why, if you want to live on a budget in New York City, you should live there like a New Yorker. So, take the subway and ride the bus. Even with the rising fares, public transportation is still cheaper than taking a taxi.

Another option would be to navigate New York’s chaotic streets on two wheels.

2. Secure a no-fee or rent-stabilized apartment

If you’re looking for ways to live on a budget in New York City, finding a reasonably-priced place to live will be your greatest challenge. Your current apartment may be at market rate, or you may even be subletting for now.

The most efficient strategy to save money every month is to secure a rent-stabilized apartment. While doing this is not an easy task, especially for someone who hasn’t lived in New York before, there are some tricks you can try.

Personal finance experts recommend talking to people you meet every day, and if the real estate gods are on your side, you may get that $2,000 studio in the East Village.

If the 15% broker’s fee isn’t in your budget, try looking for a no-fee apartment. A user-friendly site is Streeteasy.com, and there you can see all available apartments in NY’s five boroughs and check the “No Fee” option.

3. Bring back the coupons

Next on our list of tips to live on a budget in New York City is to use coupons. You’ve probably done this before, but guess what? It’s time you started doing the same if you want to live on a budget in New York City.

Capital One Shopping, Groupon, and other discount apps and websites will become your new friends. Share these cost-savers with co-workers or friends, and the monthly savings will surprise you.

Don’t forget about the Sunday paper—in NY, the Daily News and the NY Post tend to have the best coupon selections. Also, circulars for weekly sales at local stores usually come out on Wednesdays. In most cases, they are left in little plastic bags on doorsteps across the city. If you also find some at your doorstep, check them for coupons before throwing them away.

4. Trek

Another thing you should do if you want to live on a budget in New York City is do grocery shopping at the big box stores. We’re not a big fan of them, but we all have to admit that they do bring a level of convenience, allowing us to help make living in NYC more affordable.

With Target and Costco in all the boroughs, Trader Joe’s in four of the five boroughs, and IKEA in Brooklyn and Jersey, there’s no excuse for paying skyrocketing prices unless you’re in a pinch.

So, the best thing you can do when it comes to buying food and other necessities is to stick with the big retail chains. Keep in mind, though, that these stores draw a lot of New Yorkers, so be ready to wait in line and fight crowds.

Nevertheless, it will help you live on a budget in New York City.

5. Forgo the landline and cable

You probably won’t need a landline, so why pay for it? In fact, your smartphone will do the same job, so it’s redundant to spend money on two things that do pretty much the same thing.

For your favorite movies and television shows, use Netflix and Hulu, and forgo the cable. Nowadays, you can even watch the news on the Internet, as many TV channels have live sessions on the Web.

For those live events you can’t miss, head to a bar to truly feel the spirit of New York City.

Keep reading to discover other tips on how to live on a budget in New York City!

6. Skip Equinox

Next on our list of ways to live on a budget in New York City is something you should avoid rather than do. Looking good is important, and so is being healthy. You can still do that in New York while sticking to your budget.

In order to do that, make sure you skip expensive gyms like Equinox. Luckily, there are many alternatives to choose from, so there’s no reason to stop your fitness progress. Bike or run through Central Park, or take the East River or Hudson. Also, don’t forget about walking. Not only will it help you live on a budget in New York City, but it’s also healthy.

NYC also has 33 public recreation centers across the five boroughs with exercise facilities, many of which feature swimming pools. The membership fee is $150 per year.

7. Thrift it

Another thing that can help you live on a budget in New York City is purchasing things from thrift stores. Places like Beacon’s Closet, Goodwill, and Housing Works have great, affordable finds.

Whether you’re looking for a coffee table for your 5×8 living room, a chic leather belt, a sheath dress, basic clothing items, or tchotchkes to spruce up your otherwise boring space, head to thrift shops. You’ll be surprised at how many interesting things you can find.

You’re in NYC, after all, and you will never have seen such fashionable hand-me-downs anywhere else, we promise. It may take some time until you find something that is really worth it, but you won’t regret the effort.

8. Booze it on the cheap

If you want to really live on a budget in New York City, frequent BYOB restaurants (where you can bring your own bottle) whenever possible. Compared to cities like Philly and Chicago, NY doesn’t have many restaurants where you can bring your own booze, but there are still some you should give a try.

Also, take advantage of happy hours. Drink deals can be found in all neighborhoods and can rack up substantial savings. An idea would be to skip dinner out and go for a boozy brunch instead. Weekend brunches with unlimited cocktails—usually mimosas, bloody Marys, sangria, and Bellinis—are everywhere.

For the ultimate savings, make cocktails at home. Here’s a recipe book with plenty of ideas to inspire you.

If you liked our article on ways to live on a budget in New York City, you may also want to read 8 Tried and Tested Ways to Kick Overspending.