10 Tips to Live Like a Cheapskate in New York City

How do you handle the high cost of living in NYC? {via Valor Kopeny Unsplash}

Do you need to live on a budget in New York? Then this post is for you.

 

So, you made it. You’re in New York –– finally. You’ve wanted to live in NYC since you could walk (well, almost), and now you’ve secured that tiny tenement apartment in some Brooklyn neighborhood you’ve never heard of, with a roommate you’ve never met before. That’s a lot to cope with already, but how do you handle the high cost of living in one of the most expensive cities in the world? Get ready because life in the Big Apple is one big budget. Here are 10 tips to help you cut costs and live cheap in NYC.

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

Your current apartment might be market rate, or you may even be subletting temporarily. The most efficient way to save a chunk of change every month is to secure a rent-stabilized apartment. Doing so is not an easy task, however, especially if you’re new to the city. I suggest talking to everyone you meet every day, and if the NYC real estate gods are on your side, you might land that $1,500 studio in the East Village. 

If the 15 percent broker’s fee isn’t in your budget, try finding a no-fee apartment. Streeteasy.com is a user-friendly site where you can view all available apartments in New York’s five boroughs. Perfect Strangers of NYC can help you find a sane roommate and no-fee apartment to avoid a “single white female” replay.

Rent-stabilized? Maybe so!

2. Say “No” to taxis. 

Take public transit instead. Or better yet, walk as many places as possible. What might seem like nickels and dimes, adds up – $8 here, $10 there, and before you know it, you’ve spent the amount of your cell phone bill on cabs. 

What’s more, you move to NYC to live like a New Yorker. To do so, take the subway, ride the bus, and walk––everywhere. Even with fare hikes, public transportation is still cheaper. And then there’s Via, a rideshare that costs a lot less than taxis.  Use my discount code to get $10 free ride credit and give it a shot.

Citi Bike is another alternative. Pay $14.95 per month or $155 for an annual membership and bike up to 45 minutes at no extra cost. Beyond that, overtime fees apply. Though Citi Bike isn’t the safest mode of transportation, bike lanes throughout the city improve the level of safety.

Hate the subway? Ride the bus! {Photo credit}

3. Think Free. 

Take advantage of the many free events and activities on any given day of the year in New York. Sites like clubfreetime.com, and theskint.com are excellent resources. Some activities are completely free and others incur small fees or encourage donations.

4. Bring back the coupons.

Your mom or grandparents probably lived by these, but guess what?  It’s time you start doing the same. Groupon, Amazon Local, Scoutmob, and other discount sites will become your new friends while living in the Big Apple. Share these cost-savers with your roommates or co-workers and the monthly savings will surprise you. You’ll also still be able to get out on a regular basis. Otherwise, you’ll become a homebody in the city that never sleeps. And shucks, that’s no fun!

5. Booze it  on the cheap. 

Frequent BYOB restaurants whenever possible. Happy hours, which are plentiful in all neighborhoods, can rack up substantial savings, especially deals like $3 beers and $4 well drinks.  Avoid dinner out and do a boozy brunch instead. Weekend brunches with unlimited cocktails – usually bloody Marys, mimosas, bellinis, and sangria are everywhere. 

Booze it up at brunch.

6. Trek.

I don’t necessarily love the big box stores, but they do bring a level of convenience and save cash to life in NYC. With Costco in Manhattan, Brooklyn, and Queens, Target in all the boroughs, IKEA in Brooklyn and just over the bridge in Jersey, and Trader Joe’s in four of the five boroughs (none in the Bronx yet!), there’s no excuse for paying premium prices unless you’re in a pinch.  Bear in mind, these stores attract a lot of New Yorkers, so be prepared to fight crowds and wait in line. But, the savings are probably worth the aggravation.

7. Thrift it.

Stores like Housing Works, Goodwill, and Beacon’s Closet have great, affordable finds. Whether you’re looking for basic clothing items, a cocktail dress, a coffee table for your five by eight living room, tchotchkes to lend personality to your otherwise boring space, or that basic leather belt, head to secondhand stores. You are in NYC, after all, and you’ll never have seen such stylish hand-me-downs anywhere else, I promise.

Thrift it at Beacon’s Closet. {Photo credit}

8. Forgo the land line and cable. 

A cell phone is all you need in this town, and that will be costly enough. For your favorite television shows and movies, use Hulu and Netflix, and for those live events you can’t miss, head to a bar and watch with friends, a lá NYC style. You’ll rarely be hanging at home anyhow, but be out in the city doing all those fun, free or cheap activities from #4, instead.

9. Skip Equinox.

You’ve got to look good now that you live in New York. Have no fear. With alternatives to expensive gyms like Equinox, there’s no reason to let that flab get the best of you. If you’re a runner, it’s a no-brainer. Run through Central Park, or along the Hudson or East River. NYC also offers 33 public recreation centers throughout the five boroughs with exercise facilities, many of which have swimming pools. Membership will only set you back $150 a year ($25 if you’re 18-24 years old or 62 and over), both less than a one-month membership to a fancy gym.

If yoga is more your style, Yoga to the People offers 60-minute classes in various locations with a suggested donation of just $10. You might get to mingle with some other like-minded yogis in the process.

10. Forget Starbucks. 

At $3-$5 a pop for a cup, you just can’t afford it. Make coffee at home, and if your morning schedule doesn’t permit brewing, buy a cup from the cart on the corner for $1.25. Skip the fancy, fattening froufrou caffeinated beverages. You don’t really need those empty calories anyway, now do you?

Starbucks much? Stop and you might afford a bigger apartment. {Photo credit}

This article was updated May 19, 2016.

Posted on May 19, 2016