l_spencer
New member
Posts: 2
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« on: January 19, 2012, 06:21:47 AM » |
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Hello everyone,
I came across this forum when looking for some benchmark on living in New York.
I'm currently moving there from Europe for a good job opportunity that pays 70k a year.
From those, I have a monthly 600 dollars I need to send home to finish a credit card (shouldn't take more that 6 months to finish it). So I'll have 62k year to go by.
What's your take on living in NY with this money? Of course I know I won't live a glamorous life style and I'm not usually a big spender. But I do like going to a musical, or buying a videogame once in a while. And I love the gym so I want to join one.
Will this money allow me to have a decent life in NYC or will I be on the verge of poverty?
Thanks for the advice!
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neutralname
A person without qualities, except for being a
Member-Moderator
Distinguished Senior Member
Posts: 5,598
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« Reply #1 on: January 19, 2012, 06:33:32 AM » |
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You'll be fine. Most of your money will be taken up by rent. The subway is getting expensive, and you will probably be in Queens or Brooklyn, possibly the Bronx. Start browsing Craigslist now for places to live to get an idea. You can eat relatively cheaply.
You don't say whether you are paying taxes. Obviously if you are paying NY and federal taxes, you will be a lot poorer.
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"My loathings are simple: stupidity, oppression, crime, cruelty, soft music." Vladimir Nabokov
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l_spencer
New member
Posts: 2
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« Reply #2 on: January 19, 2012, 07:44:34 AM » |
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From what the company told me, after taxes, I'll be getting around 4k monthly.
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pigou
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« Reply #3 on: January 19, 2012, 01:52:48 PM » |
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So you will have $3.4k after taxes and credit card payment - for an individual, that shouldn't be a problem. Even living in Manhattan you can get a studio for $2k or so (or a larger apartment in Brooklyn), leaving you with another $1k for spending and $400 to put toward retirement savings.
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chickpea
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« Reply #4 on: January 19, 2012, 03:15:29 PM » |
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You'll be fine. Rent is the most expensive thing in NYC. Depends on how big a place you want, but I'd look in Brooklyn or Queens. I make about the same and do fine.
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macaroon
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« Reply #5 on: January 19, 2012, 03:26:31 PM » |
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You should be fine.... one thing to keep in mind about NYC is that you CANNOT enjoy everything while you are there, or you will go absolutely broke. Once in a while, you can treat yourself like a king, but it can be tough to watch the truly rich do it every day.
Ask for advice on finding a place to live from those that work at the institution - there are a lot of decent, affordable neighborhoods (some in Brooklyn, Queens, and the Bronx), and they'll know which ones have an easy, fast commute, and which ones would be a nightmare.
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arts4ever
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« Reply #6 on: January 20, 2012, 01:27:39 PM » |
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Don't worry about subway--a monthly pass is a hair over $100 and you can get anywhere you need to go.
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prytania3
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« Reply #7 on: January 22, 2012, 09:08:38 AM » |
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Keep in mind--NYC is now very expensive but not very cool. If you want cool, head for Cleveland.
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Clowns, I tell you. Clowns.
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