How do New Yorkers Financially Survive? (Louisville: middle-class, apartments, houses)

[Kostellic]

Hello all,

I'm a fairly new member. I posted a few months ago about wanting to live in NYC one day, like many. I was given a big reality check, but still don't want to forget about it given that I'm fascinated by the lifestyle and environment of NYC. I spend a lot of time researching and reading posts on here, but what I'm failing to grasp, is how people survive the crazy high cost of living there. I'm seeing that a lot of jobs available for people fresh out of college pay about 50k-ish per year. I currently live in Louisville, KY and make about 21,000 a year, which I feel is great given that I live at home and go to school. Per CNN's cost of living calculator, 20k in Louisville will require just over 50k in Manhattan, and about 33k in Queens. I know that in Louisville, living on your own with 20k a year is possible, but not ideal at all given you would have to spend every penny and live in a not so good area. It's clear that outside of Manhattan is obviously cheaper, but price wise everything is just higher there no matter where you are, at least that's what I gather from what I've seen during my visits. I'm thinking not having a car, smaller apartments=smaller electric bill, etc has an effect, but I can't help but find myself wondering how people survive. Roommates..? In Louisville, 50k a year will you set you up for a comfortable, financially stable life, but in NY it seems like 50k leaves you struggling a bit. This may seem like a silly question and make me look dumb, but I'm really curious to know how the lifestyle works financially, since the grind of NYC never seizes to amaze me. Can anybody shine some light on my curiosity?

Thanks!

[skinnayyy]

They survive the same way you survive every where else in the world. You spend less than or equal to what you make.

[BlakeJones]

The answer is you live within your means, that's it.

[G-Dale]

Originally Posted by BlakeJones

The answer is you live within your means, that's it.

and by making more money than you would elsewhere.

[high iron]

Originally Posted by skinnayyy

They survive the same way you survive every where else in the world. You spend less than or equal to what you make.

have you seen the stats on American consumer debt? lol.

[BinxBolling]

You live in an uncool, inconvenient neighborhood. It's OK, those neighborhoods are better anyway.

[30to66at55]

And you bewail the demise of Gray's Papaya because its the only thing you can afford to eat the day before payday.

Stay in Louisville...nothing special about NY except it confused liberalism.

[bilmin]

There are lots of people here who make less than 50k---so don't believe everything you read. There are a number of people who are young and rich also. I can tell you that living in this city is tough and the biggest draw on income is some form of housing which is a big thing. If you begin with an acceptance that your housing is not going to be as nice for the same money as in other places you are a long way to being able to live here. When I watch these shows that show houses being bought with a nice piece of land for 150,000 or 200,000 I wonder what the people would think if they saw a 1 bedroom 3rd floor walkup with no outside space for 800,000 like mine sold for a few years ago. It all comes down to what you want in a place you live in.

[reppin_the_847]

It seems like it would be an awful lot easier for middle-class and poor folks with the help of handouts and subsidized housing. That plus living in cheaper, hood areas and splitting multiple incomes with roommates or family members even if the incomes are small. Not sure how people can afford it otherwise.

Originally Posted by bilmin

There are lots of people here who make less than 50k---so don't believe everything you read. There are a number of people who are young and rich also. I can tell you that living in this city is tough and the biggest draw on income is some form of housing which is a big thing. If you begin with an acceptance that your housing is not going to be as nice for the same money as in other places you are a long way to being able to live here. When I watch these shows that show houses being bought with a nice piece of land for 150,000 or 200,000 I wonder what the people would think if they saw a 1 bedroom 3rd floor walkup with no outside space for 800,000 like mine sold for a few years ago. It all comes down to what you want in a place you live in.

[bilmin]

Originally Posted by reppin_the_847

It seems like it would be an awful lot easier for middle-class and poor folks with the help of handouts and subsidized housing. That plus living in cheaper, hood areas and splitting multiple incomes with roommates or family members even if the incomes are small. Not sure how people can afford it otherwise.

Most people don't get handouts or subsidized housing--- young people living together in 3s and 4s in places made for 1 or 2 yes that happens a lot.