Living in NYC on $25k/Year
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- Опубликовано: 7 фев 2025
- Here's a breakdown of how I live in Downtown Manhattan on just $25k per Year. Some people think this is impossible. I'm sure there are some people that think this is a lot of money. Chances are if your living in on your own in my neighborhood (Chelsea) your spending $25k/year on rent alone. I just want to promote simple living and show that it's possible to live in NYC without spending crazy amounts of money. I genuinely don't feel constrained spending this much money and when i do end up
Budgeting 101 walkthrough and template:
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It is interesting how a person can actually make ends meet when there is less money coming in. People tend to adjust what they spend their money on. This was a good review on analyzing where the money goes by day, week, month and year.
That was really soothing. I think, if I may, you've got a system of value, whereby one invests in what one values. Cool.
I've always been happy spending around $25k a year and never had a reason to spend more. I spent even less than that when I traveled around the world for two years. And investing your money instead of spending it on rent I think will pay off in the long run.
@@moneythoughts, please consider moving to Pittsburgh the city of Bridges. You can live well here and I'd love to meet you. Or at least come for a visit. :)
I loved every moment of living in Battery Park... NYC is a great experience. You're making it work!
Thanks for the template, I need to budget ♥
It's a good habit
Such a great approach to stay on the same budget even as your income might increase. I've known too many people who felt stuck in jobs they didn't really like because they always increased their spending in conjunction with their income. When COVID caused so many people to lose their jobs I took a good look at my budget to see how much money I would need if I lost my job or had a big loss of income for a long period.
Exactly, I like to think of wealth as how long you can do whatever you want without working. The easiest way to get wealthy is to be happy with less. Most people prioritize physical objects over the freedom to just do as they please (experience) based living.
Very calming and helpful. I will look at template you shared. Thank you. It’s always helpful to see how others stay on track. Thanks.
Thank you!
Bro try mint mobile its 35 for unlimited and get a dip crock pot make some small one person meals. Less is more! Love this! The tiny crockpot will cost 10.00 and you can go out and grab ingredients ever 2 to 3 days. Make soups and burrito bowls for lunch and then enjoy your meal out dinner time.
Like you mention, you REALLY lucked out with your rent. I've seen videos of comparable size apartments in Manhattan for around $1K a month. I live in an affordable city (St. Louis, MO), and I can't even imagine finding a tiny studio for that price. Ha. You do a great job with your budgeting. Putting it all down on a spreadsheet and telling your money where it's going to go is a game changer. It is so much better than just doing life and having no idea where it's all going. When budgeting, you will find that you have more money than you think, and you hold yourself to a plan. A fellow budgeter.
Basic budgeting is the foundation for financial independence for sure! And yea, I don't know a single human that lives in the U.S and pays less than me haha
Brilliant! Hi Noodle and Katie!
I could definitely live there!
I feel like it’s easier to buy food since there really is no kitchen.
Is that a rent controlled apt ? Will it always be $385/mo ? You are very fortunate to have your living expenses so low 👍
Appreciate the breakdown of costs! Best of luck :)
haha, I've had around the same ballpark expenses most of my life, I just don't need that much to be happy :)
Very cool video. Thank you.
What is your budget for your dogs???????
Good question👍having pets are not cheap - vet bill's etc.
I saw in his other video that he found some things in the trash, file cabinet, sink etc. He should visit some of the pet store dumpsters, lots of free dog food they just throw away.
I live in NYC now and I pay $800 for a one bedroom in queens. I want to do the minimalist lifestyle and I'd love to live in the city for at least a year just to try it out. How did you find your apartment and do you think deals like that are still possible to find? I'm super interested in a more spartan lifestyle. Thanks for your videos!
Steve Ramirez, what part of Queens are you in? I used to live in Astoria. You're lucky you got a 1 bedroom for $800.
@@honeybeejourney I used to live in ridgewood and it was a family connection so not all that common. But I moved to Williamsburg recently. :)
You could go down to OMAD and just snack a little in the evening.
I actually have been doing some intermittent fasting, basically two meals a day, and it's great for energy levels and feel healthier. It's funny that when you eat all day long it makes you tired, starve yourself just a little and unlimited energy!
I just went grocery shopping yesterday & I spent basically $100 for the week & it’s just for me. I would guess that, were I in NY, those same groceries would be roughly $120-140, so you probably wouldn’t save that much by preparing your own food, plus you’d have to deal with the time, waste & mess of it in an 80sq ft apartment. I don’t blame you for eating out.
I do have a trader Joes a block away though and I go there once a week :)
Just gotta be coupon clipping lmaoo and just bulk cook for the week and eat the same meals. Sorta how I do it.
Just found your channel. Great job and good info! Awesome that you can budget that way!
Love this idea :-) living once my last three kids are out of my house I plan to downsize like crazy as well would love to move to New York and be able to live in a smaller apartment like that with my tea Chihuahuas it would be amazing you have all the areas of busyness with New York City and all the convenience and places to go to Subway and you have a very small apartment are we still people the bigger you buy the more you pay the less you buy the less you spend awesome videos
Bro, You're amazing!
Every other post is questioning pet expenses. The dogs are not his, he's said many times he has a dog walking business. Noodle and Katie were not his dogs.
Thank you! I'm sure not everyone watched the entire thing. But yea, not having to pay for pet expenses is great! Like watching your niece or nephew and not having to pay to take care of them, just be the fun uncle :)
I had a feeling you'd be eating out a lot. It's crazy that you scored such a cheap apartment but spending about $800 a month to eat is nuts!! I know it's NYC I'm from the Bronx but yes food is one of the huge money sucks I find.
Maybe be able to save a lil more if you purchased just a few microwaveable meals. Even just 3 a week would add up. Or making a sandwich. I’m gonna use your excel sheet to track my spending
he doesn't have a microwave. he doesn't have enough electrical power in his apartment to even run a toaster oven :)
Good ideas, I am way past the age to accumulate wealth, but I can use some of your ideas for the near future. Going to check out your Excel video!
I'm 60 and my rent is $400/mo through my year's I've been down sizing and I found that I really didn't need everything I thought I did.
When you said don't spill coffee on your MacBook I instantly pushed mine away from my tea. Thanks!
Just noticed your Corado sweatshirt...Colorado Springs here.
That's where my Airbnb is! I'm a snowboarder and rock climber so Colorado has always called to me.
Ever thought about getting one of those small portable laundry machines? You’ll save so much money and you probably have enough room for it.
I have a laundromat just downstairs. I don't think the plumbing in this building could handle laundry machines. It's expensive but the convenience is worth it, Also nowhere to dry the clothes even if I had a laundry machine in here.
@@moneythoughts Dang you're really lucky with that place. So convenient especially in NY
I lived in New York ... albeit in a small 1 bedroom bungalow for 9 years for what he's paid in a year Through luck And hard work. I lived in a town called Howard beach.(35 minute train ride to Manhattan Yes John Gotti lived there)... I bought the house in bad shape from a tax sale for under 20k.... I was an apprentice electrician making $9.50 (1992 ok it was long ago but houses cost $300k back then there) Paid cash for the house... Never paid and electric bill....(Again electrician ....we have our ways) sold that house for $240k at a time I was making over 100k a year as a union electrician bought 3 more houses.... retired at 39(8 years ago) sold those 3 ny houses, bought 15 houses in south Carolina and have rolled that into a million dollar a year income. It pays to live below your means until you can grab them by the balls!
Wow good job 👏👏
Good investments!
So did I miss where you included pet expense?
It's the interesting calculation, very scientific. I saw different video about an apartment at Long Island. And it costs $397. What do you think how many hidden fees in addition to the declared amount?
I pay $385, includes all utilities. It's an SRO so it has special rent controlled laws. They can't raise my rent. Just got lucky really. I pay for internet, and that's about it.
You don't have to upgrade your iphone every year, my iphone 7p is 4 years old and still good as new.
Nice video man. I mostly invest my money into the stock market to be wealthy
Same, all my $ is in the stock market, mostly Tesla lol. But I recently diversified a bit into real estate, now I have an Airbnb in Colorado.
would be interesting to see how you have fun. NYC has become the playground of the rich (or rich people kids). $50 a week is not a lot in NYC for fun. It'd be interesting to see how you have fun and how you find comfort in the small things of life that other people don't see.
He probably uses his hand and lube a lot for fun of you know what I mean.😇
This dude is gonna be 35 living on a giant plot of farmland off of the investments and savings he’s made
385 doesnt seem real, even micro apartments went for double, unless this is post COVID.
The person living here before me paid $80/mo. Basically SROs can only raise the price a certain amount each time someone moves out, they can never raise the rent on a current tenant. So the price stays extremely low if tenants stay for long periods of time etc
nobody will ever find an apt that cheap. damn near impossible.
Health insurance? Life Insurance?
How do you find a 400 rent in Manhattan..I been looking for an apartment or studio but they are so expensive.
I got super lucky, but also, this is an SRO, you can actually probably find one for around $1,000/mo. Basically you have to be willing to make sacrifices and then also get lucky.
@@moneythoughts mmm...every apartment or studio is overly price...even the one with out the kitchen and bathroom are way over...from 1000 to 1500. I barely bring home enough money. On a 2 week pay made of 900..how can that cover my expenses?
@@pajyeebtho7004 what do you work ? Live with roomates ? Room for 600 700 800
@@fofofofo3076 I don't like to live with roomate..I like my own privacy
@@fofofofo3076 I want to look for a job before I move up there but I need to find a place
Hello, can you give some information on how/where to find an SRO in the city please. Thank you
Honestly I got super lucky. and most SROs just like this one are still at least 4x the price that I'm paying. Basically someone passed away and that's how I stumbled into this apartment. This is basically the only way super good deals in NYC open up, someone passes away. Although, rents have been dramatically cheaper since Covid. I know this wasn't helpful, but just keep apartment hunting and ask for to see the cheapest place.
@@moneythoughts ahh, good to know, thanks so much.
80sqf is plenty in nyc. Put a fruit hammock in and it’s basically aspirational #vanlife.
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I love the choice to focus on breakfast as the meal because that’s the one that’s overpriced and so easy to do yourself but for any other meal- enjoy all my favorite restaurants. (Seriously. I miss them) You’re within delivery range of at least one of them.
Just subbed u bro. Nice
I'm sure people ask all the time but who can you score the tiny space in the city? I'm curious
You're not the first to ask, I wish I had a resource, but I have friends that have asked me and unfortunately I can't help them either. I just got lucky, right place at the right time. Basically you just need to know about someone with rent control dying and then hit up the landlord before the apartment goes onto the market.
how did you get your internet so low????? I have spectrum and pay close to 60.00 could you please let me know what deal you got? what about the animals you have? Vet, food ...?
Someone at Spectrum accidentally gave me a deal that he wasn't supposed to, $20/mo for 3 years if I signed up for a phone plan with them. I have a dog walking business, the dogs aren't mine, so no vet bills etc. :)
@@moneythoughts ah I see - good deal on internet -
Pet costs?
i dont understand, how have you saved 750k in 5 years while making 25k/year?
I live on $25k/year, not making $25k/year
Could you do a video on finding places like yours?
Im renting a room here in philly for the same reason but all i have done is put everything in savings accounts, i need advice badly where and how to invest
The most important thing is that you realize that you should be investing in my opinion. The "safest" thing you can do is buy and hold diversified indexes. I would start with that and then as you learn more and gain confidence you can start doing your own research and allocating a portion of your portfolio to individual companies. I'm not able to give financial advice in any official way, but just keep digging and doing your research and be sure to start investing sooner than later! Compound annual Growth is not something you wan to miss out on.
There are some in New york that live or $5,000 or $10,000 per year
Very helpful!! Thank you! What program is that for the budgeting?
MS Excel
@@bl00dkillz Cool. Thanks!
You don’t include expenses for your dogs like food, heartworm/flea and tick preventative, poop bags, yearly vaccine and vet visit.
A Macbook Pro is my best investment so far.
I notice you have climbing gear. What are your travel expenses ( not during covid) to get to climbing locations?
ugh, unfortunately I haven't been climbing lately, but back in the day I traveled Asia for 13 months for a total of $17k. Now I just take a drive up the the Gunks every once in a while, hopefully this summer. Did I have climbing gear out in this video?! I didn't even notice haha. And if I'm lucky I just jump in my friend's car and pitch in for gas and camp etc. Ever heard of the term Dirtbagging it? Me living in this tiny apartment in NYC is like glamping compared to the rock climber (dirtbagging) way. haha
@@moneythoughts I went to school in New Paltz and still live in the area. The Gunks are great for climbing.
Where can I look for SROs
Any apartment finding website, just look at the cheapest apartment and it's probably an SRO. They usually still cost $1,400 though, at least in my area.
Thank you. Cost of living in the city has gotten ridiculous 🙄
What is your business ?
Awesome hun ...does that include dog care ??
What about car, gas, insurance, health insurancce? Just curious
sorry, you just answered.
what files do you store in those storage subscriptions that is so important. I'm sure half of the Google storage is spam in Gmail. Wouldn't you at least save by buying the maximum amount in one of them instead the lowest level in all of them?
How does one find these micro apartments in NYC?
More than $600 a month on food?
I get by on a link card in chicago...thats only $295 of course I run thru it fast but you can make it last.
So where’s the link to your budget breakdown?
Hmm, trying to remember what you're referring to, I think I mention there is a link to a budget template in my budgeting 101 video. But I don't think I shared my specific personal expenses.
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Great videos how do you find a micro apartment?
Groceries are a lot cheaper if you go vegan on beans, but you have no kitchen so you’d have to soak microwave so many beans and grains on my budget.
Hell if I wanted to live in a 80 sq ft shoebox I could live there too!
I mean some of us are kinda stuck in the city and don’t make a lot. I have to have roommates and I pay $950 a month which is pretty cheap.
$20 a month for WI-FI ?!?!?!? 😎👌🏾😍🥰💵💰
Yea, it was a promotion from Spectrum for 3yrs when you sign up for Spectrum Mobile, left Spectrum Mobile but still have the $20/mo internet price.
$385? I paid more when I still lived at home with my parents! Would you share the dimensions of your living space?
80 square ft
I make every effort to Quadruple the income so I don't live so cramped. But to each their own
I can afford a larger apartment but my point of view is even if I spend 5x more on rent, I still will live in a tiny apartment. just a little less tiny, so I might as well just press into tiny living haha
What about dating? Do u feel comfortable to bring someone over with a room so small?
It's not the first thing I mention on a date, but usually once you get to know someone, showing them my apartment is sort of a funny surprise, and it's sort of a test for how down to earth someone is.
wowwwwwww..Amazing
Pet's ect,rent 🔒 in? Part of the equation,how much income rolling in? Is it worth it, nevermind manhattan,do your thing.
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Nice Video :)
Glad you enjoyed it!
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Impressive! 😄👻✌️ I have housemates to make rent more affordable.
After hearing, "...basically..." for the third time in 39 seconds, I was done.
Thank you for your feedback! I'm a noob at this. Truly appreciate your honest feedback.
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So now I know about your diet 😠, a lot of junk! You really have no idea of what's in take out food unless you order only undressed salads and raw fish. Why don't you pay for health insurance? On your parents' plan or just hoping you'll be lucky? I had a major car accident at 30 years old - 3 months in the hospital. And I didn't/don't own a car! You never know what can happen. And your retirement/savings/investment plan? Have you got one? These are just questions and curiosities not criticisms 🤔😁.
I think I eat relatively healthy even though I eat out, but I agree it would be better to cook. I live above a sushi restaurant and they are like my private chef. I have health insurance, but it's free, I can't really get into it on a public forum, but good observation haha. I invest all my own money and have managed to save nearly $1m in the past 5 years living here so I'm going pretty well. :)
@@moneythoughts Wow! That is so fantastic! it is so good to see a young person being so smart about their money. You will do so well in the future and will be set for life at the rate you are going. Well done, I'm impressed! As Dave Ramsey says: "Live like no one else so you can live like no one else!"
@@moneythoughts wow! Fantastic! Do you work in the city or do you work from home? I was just thinking that you could buy an amazing house for a fraction of what you have saved, if you don’t mind moving somewhere else. I’m in Canada but looking to buy a property in the US and I’m amazed at how reasonably priced a lot of places are!
@@moneythoughts So delighted to hear that!!!! Good, great for you! It's nice to hear there are actually young people who are thinking about their future and not slaves to fancy fashions and silly cars! Of course, I still think you should be careful about your diet. Sushi is great, but remember to eat your veggies and fruit ;-))
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