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I presently live outside the city paying $1000 in rent for a 1 bedroom. I spend up to $300 in car related expenses plus commuting to the city with my transit pass plus subway pass once i'm in the city. I'm contemplating moving into the city since the rents are coming down (although for how much longer, who knows). I saw some studios in the UES for $1200ish to $1300ish. They were very small, smaller than my living room presently. However i've come to accept that as long as I can walk to work and meet up with friends rather than planning it out and arranging the commute back the way I do now to meet up with them. I'm also open to roommates and see rooms going for up to $1300 or under dependent upon the apartment and location of course.
My income is not high by any means but I feel like i'm comfortable for my lifestye. I have no family or dependents, no credit card debt, no student loans. No habits that require constant spending such as excessive shopping or drinking/partying. After taxes, insurance, 401k etc I take home $3000 a month. I buy lunch a few times a week. On average I dine out once a week. I never run out of money and I don't meticulously budget either. I obviously don't wear designer clothes but throw things together from Bananna to sale items at Bloomingdales and find myself looking presentable. Perhaps I really do live within my means just fine.
Browsing the forums i've gotten the impression that's not alot of money to be living in the city. My friends pay about the same in rent as I do or a little more but I also have the car expenses so technically it equals out. Some make less than me. They also have some of the financial responsibilites that I dont such as credit cards and student loans. Their parents don't subsizde their lifestyles either. Is my income sufficient in the city? I know people make much less but is it doable? Some of the people I know are making it work? I used to think I'm saving money by not living in the city but the more I analyze it the more I realize it's really the same thing. The only difference is that I will no longer have a car but who needs a car in the city. Experts probably say i'm paying too much rent based on my income but I think I can afford it...
Is my income doable in the city given my lifestyle?
I agree. It is very doable. Several years ago, I lived on less and it worked. I would just caution that with this income, you will not be able to take advantage of all that NYC has to offer. You will have to pinch pennies, and a roommate is advisable to knock down that rent a little bit. Still, there are many fun bars and shows in NYC that you'll be able to see without spending too much. Definitely get rid of the car!
You'll be fine as long as you can get something for $1300 or less. If you're willing to get a roommate this won't be hard to do in many parts of Manhattan. In my opinion you make the minimum salary to live comfortably in NYC.
And don't forget , if it's not enough , you can always try counterfeiting money and then you'd have all you'd need
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