Living and even visiting New York City can be a major expense depending on your financial situation. There are always small expenses that tend to accumulate over time that put a stressor on your bank account. Whether you have too many brunches per week, or you decide to grab coffee at Starbucks every morning, these small expenditures can hinder your financial stability when in the most expensive cities in the world. The following are some ways to cut down on frivolous expenses and begin to manage the Big Apple.


Eating Out

This is probably the biggest expense most new yorkers face. We go to lunch for meetings, we go for drinks to get to know acquaintances, and we eat out to avoid cooking food in our small kitchen. It is convenient to eat out! A simple rule to implement would be to eliminate non-social eating out. Avoid takeout, grabbing a coffee in the morning, or grabbing a pizza on the way home from work. Try your best to prepare cooked food at home. If a friend wants to go out for a drink or dinner, make that exception, but avoid personally indulging when you have the opportunity to eat at home.


Manage Finances

Say goodbye to not checking your bank account! When living in a city with such a high standard of living, you have to be aware of your finances. If you are someone who can manage your finances with an excel sheet and a list of rules of what percentage of your income goes to what expenditures, you’ll have to begin this process. Give yourself strict rules of; 50 percent of income goes to bills and necessities (rent/electric/groceries) while the other 50 percent is divided to fit your lifestyle. A general idea is to put around 10 percent of your income towards fun.

If you have trouble managing your own expenses, there are various programs developed for people just like you! They help you visually understand where your money is going and also help you invest in your future, deterring away from living paycheck to paycheck. One of these programs is You Need A Budget. This is a program designed for the ideal young, new yorker who needs to start managing expenses. Mint is another popular budgeting program that helps you dedicate every dollar to a specific expense.

Taking responsibility for your income and how you spend it is dire when living in New York. It will be hard to make ends meet at first but if you get a handle on your expenses, your NYC experience will be much more pleasant than going broke in a matter of months due to a lack of finance strategy.