Living in New York City is expensive, especially when you’re going to school full time. You don’t have a lot of money to spare and what you do have is going to your education and living expenses. If you’re hoping to save a little extra money this year, here are a few simple ways.
Get A Roommate
One of the best ways to save money in NYC is to get a roommate. When you compare renting a one-bedroom apartment by yourself to renting a two-bedroom apartment with a roommate, you could save over $1,000 a month. Saving more than $12,000 a year could be huge for you, especially when you’re in school and not able to work full time. While you might not love the idea of sharing spaces with another person, the benefits do seem to outweigh the inconvenience.
Remember to decide on rules for shared living spaces, such as when they can be used and what food you’ll share (if any). Having a good relationship with your roommate means you’re able to discuss issues when they arise. It doesn’t mean you have to be best friends. See if your school has a way to match up potential roommates if you’re worried about finding someone trustworthy. The benefits of your savings account will be well worth it.
Sell Your Car
Less than half of New Yorkers own a car, and only 27% of workers use a car to commute. With its public transit system, New York City has plenty to offer for those who don’t own a car, and not owning a car can save you a lot of money. Depending on the car and how much you drive it, owning one could cost you thousands of dollars a year between the car payment, gas, and insurance. MTA’s unlimited ride cards will cost you much less than that a year. You certainly don’t need to own a car in the city, so save yourself the money and the hassle by selling it.
Focus On School
This might seem like a strange way to save money, but staying focused on school will actually help you in the long run. When you’re not focused, you spend time doing other things that cost money, like going out with friends. Keeping your nose in the books will actually prevent you from spending more money than you should. You’re also setting yourself up for success when you stay focused on your work. Keep yourself organized with custom pocket folders (which you can also easily use for a side hustle) and keep your mind on your schoolwork. Getting good grades and learning will help you land the perfect job out of school, which will help you stay happier and financially stable.
Get A Scholarship
Scholarships are meant to help students defray the costs of getting an education. Take advantage of the scholarships that are available and save yourself some money. If you’re majoring or minoring in the arts, head to https://www.todaytix.com/insider/nyc/posts/education-student-scholarship to see how you could win $1,000 for your education. When you’re in school, you want to be able to focus on your learning. If you don’t have the funds to pay for your education, you’ll have to get a job, if not several jobs. Scholarships allow you to attend school without stressing about money or adding to your student loans. Talk with your school about the TodayTix scholarship and any others that might be available.
Saving money while living in NYC is easier than you might think. If you follow these simple steps, you’ll have a little extra cash for school and fun.
