3 ms·

I've been thinking about what would happen if I decided to work on my startup full time in NYC, where I live now, and I always end up thinking that it would be

by wan23 17y ago

I've been thinking about what would happen if I decided to work on my startup full time in NYC, where I live now, and I always end up thinking that it would be pretty hard to live in that "extremely low income" category. Does anyone have any tips on how to really cut costs? Besides moving somewhere else of course.

earl 17y ago
I personally wouldn't live in NYC for less than $80K. Reasons: you'll pay ~$1.5K / mo to live in dumpy but reasonably safe housing with a roommate. That includes utilities which are fucking expensive in NYC. Also, it's humid as hell, so you will use your A/C 5-6 months per year. Make sure you have it. Many apartments come without kitchens or with tiny, dilapidated kitchens. Expect to eat out every meal. The good news is there are lots of places to eat well for $6-$10 per meal. This actually isn't that bad an idea when you look at the exorbitant price of food in NYC. You will pay city tax with a top marginal rate of ~3.5% (IIRC) after about $60K or so of income. My numbers might be a little off but not that far. Basically, if you make about $85K, you'll pay $3+K for the privilege of living in the city. Sales tax is high too -- 9+%. Your apartment will be tiny so you'll hang out with friends in restaurants or bars. You'll be shocked how easy it is to spend $100 on a night out. The only cheap thing in the city is low end food, metro passes, and cab fare. Take advantage of them. Don't have a car -- it cost us $525/mo to park our car in the city, and that's with free dents and attendants who stole all the cables we left in it. The bright side is this: if your expectation of public transit has been set by SF -- where transit is complete shit -- you'll be amazed by the subway. Pay to live near an express stop; it's worth it.

3 ms·

I've been thinking about what would happen if I decided to work on my startup full time in NYC, where I live now, and I always end up thinking that it would be

by wan23 17y ago

earl 17y ago
I personally wouldn't live in NYC for less than $80K. Reasons: you'll pay ~$1.5K / mo to live in dumpy but reasonably safe housing with a roommate. That includes utilities which are fucking expensive in NYC. Also, it's humid as hell, so you will use your A/C 5-6 months per year. Make sure you have it. Many apartments come without kitchens or with tiny, dilapidated kitchens. Expect to eat out every meal. The good news is there are lots of places to eat well for $6-$10 per meal. This actually isn't that bad an idea when you look at the exorbitant price of food in NYC. You will pay city tax with a top marginal rate of ~3.5% (IIRC) after about $60K or so of income. My numbers might be a little off but not that far. Basically, if you make about $85K, you'll pay $3+K for the privilege of living in the city. Sales tax is high too -- 9+%. Your apartment will be tiny so you'll hang out with friends in restaurants or bars. You'll be shocked how easy it is to spend $100 on a night out. The only cheap thing in the city is low end food, metro passes, and cab fare. Take advantage of them. Don't have a car -- it cost us $525/mo to park our car in the city, and that's with free dents and attendants who stole all the cables we left in it. The bright side is this: if your expectation of public transit has been set by SF -- where transit is complete shit -- you'll be amazed by the subway. Pay to live near an express stop; it's worth it.