Living on the bare-minimum (New York, York: apartment, credit card, student loan)

[WantsAMrDArcy]

I'm looking to hear what people believe is the bare-minimum budget for living in Manhattan. Of course, everyone is going to have different ideas of what "must haves" are, which will impact the finale number. However, I really am looking for different views.

I ask because I am considering moving to NYC in the next 6 months to a year from now. I'm young, single and not afraid to make sacrifices to live in a city that I love. I want to be very aware of the financial facts before I move, as to prevent disaster from unnecessary surprises.

Thanks in advance for the help!

Elle

[Viralmd]

Do NOT move here without securing a job FIRST!

[nightcrawler]

Live in the outer boros cheaper, and take the train to NYC, it really isnt that hard.

[StinaTado]

I make a little less than $20,000 a year before and have lived in Manhattan for about 16 months. When I first moved, I lived up in Harlem, paid $500 a month for a tiny room in a rat and roach infested apartment with three roommates, cooked most of my meals at home, and never splurged on anything. I had a pay as you go cell phone which I rarely used because I couldn't afford a contract phone. I have student loan and credit card payments, which used up any extra money I could have had for going out. I would have been miserable without my BF, who insisted on taking me out to dinner at least twice a week and paid for movie and theater tickets and bought me little presents since he knew I didn't have any extra money. It was a pretty crappy existence. We now live together and I have a much better standard of living because he pays for a lot of things I would not have gotten for myself (TV, restaurants, entertainment, a great apartment).

My previous way of life was fun for about five seconds. I could handle the not going out a lot part because I don't like bars very much and I work in theater, so I get a lot of free tickets to things, but I remember having to decide buying meat for a month or using the extra money to help buy a down coat once the snow started. That's no way to live.

I have friends who make $35,000 a year that are ok. They make enough money to have a slightly nicer apartment (still up in Harlem) and have a little (although not much) money to go out.

[Gemini365i]

I am from Brooklyn. Making anything less than $50,000 a year, is not going to allow you to live comfortably in Manhattan. Bare minimums $20,000 will def get your all the rats and roaches, you can eat....

Like the person below the OP stated, make sure you have a job before you come to NYC. It's a hard market in NY.

JE

[Cida]

Since everyone's ideas of "bare minimum" and sacrifice are so different, I think that's unanswerable.

However, I'll disagree with Viral MD, in that I think unless you're a skilled professional with an excellent employment background, the likelihood of your getting a job before coming here is slim. But new graduates without jobs pour into NYC all the time. However, if you don't have a job first, what you need are skills and experience in something, so that you know you'll land a job once you're here.

Meanwhile, save your money.

[Archivist]

Save money before you come. Be prepared for a small apartment. You will probably need a roommate. Groceries are very expensive. The subway system keeps getting more expensive every year. If you don't mind commuting, consider New Jersey. I lived there for seven years and loved it. But living there with no money was depressing and hard. If you move there without a job, which I did, register with a temp agency ASAP. That is how I got my first permanent job in NYC. Good luck!

[vivaladiva]

I completely agree with ViralMD. DO NOT move to the city without securing a job first unless you are independently wealthy. That's just common sense.

[riaelise]

personally, I would never like living the "bare minimum" just to live in ANY city. I like spare money in my pockets and money to save. I like buying whatever I want, too. If you really must move to NY, consider the boros, with under 20 min commute times. In that way you are getting more bang for your buck, and can hang out in Manhattan when needed. Or you can sit tight until the recession starts to loosen, where you aren't going against a million people for one job.

[Biskit]

In my opinion you need $80,000 for Manhattan and $60,000 for Queens or Brooklyn if you want to just make it comfortably in a small studio in a safe neighborhood. This wouldn't be too hard if you have a significant other.

But yeah, unless you're exceptional, companies tend to have a bias toward hiring people with New York experience.

Don't come to New York without a degree or securing employment first unless you have financial support. It's too cut throat.