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The city of New York is one of the best places to live in the world. The city belongs to a list of places labeled as unique; it boasts amazing architecture, venues, inspiring art and a fantastic mixture of people from all the four corners of the earth. It is a great place to live in, and that is why large numbers of people are in such a frenzy to find a place in this wonderful city.
However, many people are not aware of the high cost of living in New York City. This is an important fact for anyone who intends to live in the city. Below are a few things you need to pay attention to in regards to the high costs of living in New York.
A good choice of neighborhood is essential
This is one of the most important factors to consider while looking to live in New York City. If you are moving to New York, it is highly advisable that you conduct a thorough research of the neighborhoods; secondly, make a budget. This will greatly help all aspects of your life.
Making a budget will also teach you how to manage money properly. Creating a budget will enable you to know how much rent you can pay comfortably and also make a decision on what neighborhood you can afford among the five boroughs.
Consider sharing costs with your roommate
Not every neighborhood will cost you the same. Manhattan is the most expensive neighborhood in New York City. This means that if you are on a tight budget, it would be wise to choose another either in Queens or the Bronx.
These places are a good choice if you do not want to live too far away from Manhattan. By sharing the costs of living with your roommate, you might be able to afford a bigger place in a better neighborhood.
Spend your income wisely
The golden rule of savings states that you should put aside 10% of your income; it is important to cultivate financial discipline. The money saved should only be used in case of an emergency. The rest of the money should be set aside for payment of rent and utilities.
It is always a good thing to remember to pay for your expenses on time. Pilling up debts is not a good thing especially if you can avoid it. It goes without saying that the number of utilities payable depends on the number of people sharing the same household.
Consider using public transportation
You can lower the cost of living in this city by opting to either use public transport or walk to get to your destination. Those who own vehicles are required by the law to maintain them on a regular basis, pay for gas and parking fees.
It will help you save a lot if you can get a monthly ticket of the bus or metro. This will eliminate the stress of finding parking space and money for gas. It is not advisable to take cabs if you are looking to lower your expenses.
Use your cooker every now and then
It is only logical for you to use the kitchen in your apartment. Eating out on a daily basis is not a good idea if you want to save some money. You are likely to spend much less if you cook some of your meals at home. It is also wise to prepare for yourself some snacks to snack on in the course of the day.
Reducing your cost of living in New York City does not have to become an impossible mission. There are a number of tricks you can employ to survive as you work toward your goals. On the other hand, New York City is a city which offers its inhabitants endless possibilities. It is like no any other place in the world.