Much has been said about living in New York City. With its cinematic streets and rich culture, it’s perhaps one of the most romanticized cities in the world. However, the price of living the dream doesn’t come cheap. The high housing costs, expensive food, and other day-to-day expenses are enough to make it seem like a far-fetched ambition. But if you’re careful with your budget, it’s not at all impossible. If you’ve been thinking about taking the plunge and buying or renting an apartment in NYC, here are 7 tips to help you save up for the home of your dreams.
1. Take The Subway
New York City wouldn’t be New York City without its iconic subways, so take advantage of the many transit lines available located throughout the city when deciding how to get from point A to point B. If you find the subway confusing, check out this Beginner’s Guide to the NYC Subway System!
The MTA offers a variety of cost-saving MetroCard options such as:
- 30-Day Unlimited: $127
- 7-Day Unlimited: $33
- Pay-Per-Ride: Available in $5.50, $11.00, $22.00, $27.50, $41.75, and $67.50 denominations
We recommend figuring out how often you’ll be using the subway in order to decide which option will save you the most money in the long run.
Taking the subway will allow you to save more money than if you were to take taxis or Ubers. Plus, if all else fails, walking is always a great option for nearby destinations!
2. Eat at Home Instead of Dining Out
Eating at the many restaurants in New York City may be tempting, especially if you’re not the cooking type. But even $5 burgers can add up eventually. And, let’s be real, finding a $5 burger in Manhattan is a challenge in itself.
By meal prepping at home, you’ll be able to avoid spending money at expensive NYC restaurants while also sticking to a healthy diet.
Meal delivery services are also a great option for those looking to save time and money on food for the week. Here are some of our favorites:
- Freshly – for those who want quick, pre-prepared meals
- HelloFresh – great if you somewhat enjoy cooking
- Daily Harvest – organic options for quick, healthy, light meals throughout the day
3. Keep an Eye on Sales and Online Deals
Knowing when your necessities are going on sale is a great way to save money in NYC. Even RiteAid and Target have good deals on home essentials, so you don’t always have to buy everyday items like toilet paper and toothpaste at full price.
Be on the lookout for deals on Groupon as well. The platform offers a ton of discounted NYC activities, products, and services to choose from that will help you save money while still enjoying everything the “Big Apple” has to offer.
4. Make Your Own Coffee
Coffee is an NYC staple, but if you’re spending $5 on lattes every day, it can really add up and make a dent in your wallet.
In fact, ABC News reports that the average coffee drinker spends about $1,100 a year, whereas someone who brews at home is spending around $200 a year (not including the initial price of the coffee maker).
Wondering which coffee makers are best so that you can get your caffeine fix in your own kitchen? Check out some of these top-rated coffee makers!
5. Work Out for Free
With fitness studios and group training sessions becoming a trend, expensive gym memberships may seem like a justifiable investment. However, there are other ways to stay in shape that won’t impact your bank account whatsoever.
From Central Park to the Brooklyn Bridge, there are tons of places to run or jog in New York City that will allow you to burn some calories while sightseeing. Check out some of these top NYC running routes for inspiration! There’s also plenty of fitness apps that offer online classes for a low monthly fee and hundreds if not thousands of free workout classes on YouTube.
6. Ditch Cable
These days, it’s easy to live without cable, especially with the plethora of streaming services like Netflix, Hulu, Amazon Prime, Disney Plus, and more. If you have an internet connection, most of what you can watch on TV is already within your reach for less.
You may also be able to watch some of your favorite TV shows at bars with other enthusiasts. For instance, fans of “RuPaul’s Drag Race” gather at these NYC bars on Thursday nights to view the latest episodes!
7. Enjoy Wisely
You’ll never run out of things to do in New York City. Fortunately, not all of them have to come with a hefty price tag. The key lies in strategy. If you want to go out and enjoy the New York City nightlife, take advantage of happy hour promos. Or, if you want to see a Broadway show, the TodayTix offers discounted tickets to some of the best shows the city has to offer!
Once you’ve saved up enough for your dream apartment in NYC, enlisting the help of a broker can help you save even more money in the long run. Triplemint’s expert real estate agents will save you time, effort, and dollars when searching for the right apartment because of their established relationships with landlords across New York City.
