Hi everyone! Recently we did a YouTube video covering the ways we cut over $1,000 per month in expenses once we moved to NYC. Living in any large city is expensive, so we do whatever possible to minimize our expenses and live frugally. Here are 14 tips that helped us save!
1) CUT THE CORD!
This means cancel your cable subscription! As millennials, we have different TV consumption habits than older generations which means we look to streaming services more and more. We use a combination of Netflix and parents' cable login to stream shows we really have to see. Turns out, we've been much more productive since cancelling the cable subscription.
Savings $50 - $100 / Month
2) UPGRADE LIGHT BULBS.
Seriously, in the long run energy savings can equate to hundreds or even thousands of dollars. We've found LED's to be pretty pricey, but they last nearly forever and use a fraction of the power as traditional incandescent bulbs. CFL bulbs are a cheaper solution, but some people are sensitive to the light they produce and they still use more electricity than LED. If you can't afford to do them all at once, we suggest replacing your most frequently used bulbs first. You should see a quick return on your money.
Savings: $20 - $60 / Month
3) GET RID OF CARS BEFORE MOVING.
This may not apply to everyone, but we knew the added expenses of parking, maintenance, and insurance would create a massive headache and cost when living in NYC. Selling the vehicle before the move is crucial, we learned the hard way. The key is to live near public transportation options and have a couple of different options to get to where you're going!
Savings: $600-$800 / Month
4) GET RID OF ALL UNNECESSARY JUNK!
For us, this meant downsizing from a house, to a large storage unit when we got to the city, to eventually a smaller storage unit. Apartments are small, and it's extremely easy to accumulate too much stuff in a NY. Our rule is that if we haven't used an item in 6 months (and it isn't seasonal clothing), it may be best to scrap it. We try to earn extra money from our purges by selling items through apps like 5Miles, OfferUp, LetGo, Poshmark, Depop, and Craigslist. The rest is usually donated to our local Goodwill or Housing Works donation center. We've found sanity after decluttering our lives, and it also helps keep down on accumulating unneeded new items.
Savings: $150 - More / Month (depending on how much stuff you're storing!)
5) MANAGE THAT CELL PHONE DATA.
Fortunately today, most carriers offer an unlimited data plan with their contract plans, but when we got our new phones last year it wasn't an option. If you're in the same boat, make sure you enable text alerts for data consumption! This is something that most carriers require you to opt into on their website, but buried. It's better for them if you go over! After we went over a few times, it didn't take long to learn our lesson and use our data wisely.
Savings: $20 - Hundreds / Month
6) MEAL PREP AND DON'T BUY LUNCH.
Think about it, at $10 a meal, it equates to $50 a week, and $200 per month. For a couple, it's now $400 / month! We've made huge strides to buy wisely, cook large meals, and store/freeze leftovers for the week.
Savings: $250 / Month
7) PREGAME!
For social events where alcohol will be flowing, we always make sure to have our own cocktail hour at the apartment. Whether it's wine, a hoppy IPA, or a fine liquor that you enjoy, it's MUCH less at the corner store than the fancy bar. For example, a beer at the bodega cost $2.50, but the same bottle is $8-$10 + tip at restaurants and bars.
Savings: $50 - $200 / Month (depending on habits)
8) ALWAYS CHECK GROUPON FIRST FOR DATE IDEAS!
There are definitely occasions where it's appropriate to spend a lot on a date night, but doing so weekly isn't practical. Typically, we can snag a meal for two for under $40 on Groupon, and it often even includes wine. It's also helped us get to know the city better and discover many great restaurants, always a plus! Also, check out Fever and Living Social for couple's events and deals.
Savings: $40 - Hundreds depending on how often you go out
9) LEARN TO CUT AND CARE FOR YOUR OWN HAIR!
Really. Once you get over the fear and have a few YouTube tutorials under your belt, it's really not that hard. Sure, you'll need the occasional shape up from a professional barber, but we've managed to save a ton of money taking care of our own hair. Sheena's hair doesn't require much trimming currently, but she invests several hours each week ensuring it's conditioned and taken care of. Dustin, on the other hand, prefers a fresh haircut every week. It's been 6 months since he's been to a barber, which means over 24 weeks worth of cuts. At a bare NYC minimum of $18 a cut, plus tip ($7), it adds up to over $1200 each year!!
Savings: $100 - $250 / Month
10) STOCKPILE TOILETRIES ON SALE AND WITH COUPONS.
For some reason, toiletries are really expensive in the city. Toilet paper runs about $1.25 a roll for the decent stuff. When sales hit, we use coupons and store savings (we've been known to clear the shelves!). Although storage is a challenge in our apartment, we've figured out some creative ways to store the stockpiles.
Savings: $30-50 / Month
11) SEAL CRACKS AROUND WINDOWS AND DOORS.
Whether it's a house, apartment, or condo, it pays to make sure your home is energy efficient. It's truly unbelievable just how much power costs in NYC, so be sure to visit the local hardware store and pick up some products to help seal those cracks. Be sure to take pictures of any gaps you see (or feel a draft from). Here are a few other tips we have come across: http://www.apartmenttherapy.com/how-to-make-windows-warmer-for-winter-reader-intelligence-report-198230
Savings: $20-50 / Month
12) ALWAYS COMPARISON SHOP PRICES!
Both in-store and online, always make sure you're using your resources for maximum savings. Does the store price match? Find it online cheaper. Is there a coupon code on RetailMeNot? Check! As for online purchases, we're huge fans of Amazon Prime ($99/year), and think its totally worth it. Besides free same, one, and 2 day shipping on thousands of items competitively priced, you'll also gain access to Amazon's video streaming service (Prime Video), unlimited photo cloud storage (Prime Photo), music streaming (Prime Music), among numerous other benefits. Check out the complete list here: https://www.amazon.com/gp/help/customer/display.html?nodeId=200444160
Savings: $20 - hundreds (depending on habits)
13) BUY USED AND THRIFTED!
As mentioned above, we love apps like 5Miles, Depop, OfferUp, and Poshmark! For any items we need that are usually expensive when bought new, we are always checking local ads for gently used items. Periodically, we'll also visit the local Goodwill or thrift store to see what items we can find. We've discovered several killer deals on designer brands, so give it a try!
Savings: $10 - more (depending on tastes/habits)
14) ASK ABOUT STUDENT, MILITARY, PUBLIC SERVANT, CHILD, AND SENIOR DISCOUNTS!
All you have to do is ask, and you'd be surprised how many places offer discounts for students, military, and seniors! Take full advantage of all of the benefits available to you!
Savings: $10 - more (depending on tastes/habits)
We hope these tips were helpful! If you've got more money savings tips, we'd love to hear them! Please leave your ideas below, we'd love to put them in a future video and shout you out!
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