New York - Cost of Living

This part isn't pretty. New York is expensive. No way around it. Everyone has to figure out how to cut his or her own personal corners, but unless you're walking into a job that pays over 40K a year, there are going to be corners to cut. If you have that kind of money, there is almost no better place to be, and if you don't it can be a bit frustrating. But don't despair. Part of being young is being a bit strapped for cash.

If you make less than 20K, life is going to be a bit rough. You will probably have to figure out a living arrangement where you spend very little money. It's not impossible, but don't plan on doing it for long. Please keep in mind that I'm talking about maintaining some semblance of the life you had in college. If you want to live in a warehouse in Brooklyn where there is no shower and you have to use the pay phone on the corner so that you can taste the real bohemian life, then ignore all this information. You're on your own.

Most new New Yorkers should expect to make between 20K and 30K a year. This should leave you in relatively stable condition ... but don't plan any trips to the Bahamas any time soon. Think about budgeting yourself. I know it sounds anal, but it's always interesting to take a stab at how your personal numbers work out. I've sketched out a sample budget here, with a salary of $23,000, which is on the low-to-survivable end of things for New York:

                Per Year   Per Month   Per Day
Salary         $23,000      $1,916       $63
After taxes     16,900      1,300         46
Rent             7,800        650         21
Food             3,750        300         10
Transpt.           938         75       2.50
Utilities        1,250        100       3.30
Misc.              625         50       1.65
(Laundry, houseware, etc.)                  
Leftover         2,537        203        6.7

OUCH! I know that hurt. The numbers show that you have about seven bucks a day for everything from clothes to entertainment to that beer after work. Not much. But this is all very general. I spend more than $10 a day on food, but I happily forgo having cable, which cuts my utility cost by $20 a month. You'll figure it out for yourself, but it is a good idea to have in your head how much is reasonable to spend in a given day or week. I know I can spend about $20 a day getting around, eating, and going out, without ending up short when rent is due at the end of the month.

Gas and electric come courtesy of Con Edison and cost between $20 and $50 a month, depending on your consumption. Unless you own your own building, you don't pay for water. Heat is usually free unless your heaters are electric, in which case you could be paying an extra wad to Con Edison. Almost all air conditioners in the city are electric, so you can count on paying more to Con Ed if you plan to be cool in the summer. New Yorkers pay for local phone calls, so the phone bill will also vary with use, but count on at least $20 a month, assuming you have no heavy-duty long-distance relationships. Cable is available everywhere at about $20 a month for basic service. I figured utilities at $100 a month as a rough estimate, assuming you want your MTV. (Incidentally, Manhattan has one of the most infamously extensive and democratic cable systems in the world, where both amateur pornographers and soapbox preachers can display their wares on a nightly basis.)

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