Hi,

I have found websites on this, but none of them break this down into useful info.

I am moving to NYC from a small town in the midwest (which I don't like so I am ecstatic to move back to a city).

I am trying to calculate how far my new paycheck will go.

What are incidental costs that are more expensive there compared to other parts of the country?

e.g.;
-state taxes?
-costs for transport (someone said a metro card for the month is -70 dollars? what about bus? is that included - do you have to buy another card for this?)
-for those of you that have moved from other states or locations, anything shock you when you first moved in that you didn't calculate?

Thanks for any info!

Some info for you: in this semi-socialist city you have to pay both state and city income tax on top of federal income tax. How much it's going to cost you will depend on your income. You can look up the tax levels on New York State Department of Txation (do a google search and you'll find the forms). See instructions for form IT-201 (NY State Tax Return). I would guess it will be about 8-10% on top of federal tax. I.e., if your federal tax income braket is about 27%, your total tax will be about 35-37%. Although, state and city taxes are deductible from the federal income, so I am not sure what the final numbers will be. I would assume about 30% of your income will go towards income tax. But I am not an accountant, this is just a rough estimate and don't quote me on this.

Unlimited Metro Card costs $76 nowadays and includes bus transfers. So, you won't have to pay extra for bus. I would suggest living withing walking distance to subways, since buses are kind of slow (have to fight traffic and they makes stops often).

If you live in Manhattan, the costs of groceries is higher than in your local suburban supermarket.

The sales tax on everything in NYC right now is 8.625. But you can drive across the river to New Jersey where all clothing and shoes is excempt fom sales tax. In Jersey City, sales tax is only 3%.

I posted this back in January 2004,and thought parts of this answer may be helpful here. if you want to see the original discussion, search on "little town blues", that was the title of the posting.

I agree with the advice that your friend gave you…look for places in Brooklyn and Queens. However, I would advise against Staten Island. It’s pretty suburban, public transportation not as easily accessible, and I don’t think you will feel like you’re in “new york city” if you move to Staten Island. Areas I would recommend in Brooklyn (I’ve always lived in Brooklyn since I moved here when I was 23): Carroll Gardens, Park Slope, Fort Greene, Williamsburg, Greenpoint. In Queens: Astoria, Sunnyside, Woodside, Forest Hills. If you look to the home page of this site, at the top on the right, you can look at a profile of the neighborhood of Astoria under the big apple greeter thing. If I were you, to find out prices of apartments, I’d look at www.villagevoice.com in the classified ads/real estate section, or craigslist. When you want to get an apartment, you will be lucky if you can find a good place without paying a brokers fee. However, unless you have time to really look around for places, you might get stuck with that fee. To avoid it, you could always do a short term sublet and then you have a place to stay while you look around for a broker-fee-free apartment. If you have to pay a broker fee (for the broker to find you a place, quickly), you can plan to pay about 12% of a year’s rent. You will also need first month’s rent and again that much for a security deposit. When I first moved here at age 23, I had to shell out $3000 just to obtain my empty apartment (then lots more to furnish it, and of course next month’s rent is due in no time). Some places make you put down last month’s rent too, but I don’t think most require this. In any case, you should be able to find a place for you and your two friends in one of the areas I mentioned, and you should be able to find something for let’s say $750 or $800 each. Now, you mentioned you will be in school. Are your parents helping you out at all? Because that’s a lot of money to have to come up with each month for rent if you are a full time student, on your own. Not only will you have rent, but $70 per month for a metrocard for the subway, if you have a cell phone add about $50 or $60, generally water is included in rent, but not electric….figure at least about $25 per month each for electric. Some places include heat, others don’t. Then you have to eat, of course. Don’t know your eating habits, but that’s going to be a couple hundred dollars per month too. Internet access? Cable TV? These are extras you may or may not need. Let’s say you will need about $1200 per month for the basics, excluding spending money/entertainment. You don’t have to spend a lot of money to have fun in NYC, but you can spend a fortune easily if you are not careful. Oh, by the way, if your school is at 59th and Columbus, this is a pretty easily accessible area. Any of the places I listed are fine to live in if your school is in that area. Now you need to know about jobs. I assume you will work part time. You should be able to find a waitressing job without a problem, or some other part time job. Again, unless you are getting help from your parents or some other source, it’s going to be tough to make it with only a part time job.
In any case, I encourage you to give it a try. I personally wouldn’t have wanted to live here while in school. I moved here after graduation. It’s a little tough at first, to move to NY, and it can be overwhelming, for those of us who did not grow up here. It will help that you have a couple good friends with you. Good luck. And if you have more questions, just ask.

Me: Single girl just graduated from college. Brief rundown of my expenses.

Rent = $900 (includes all utilities and cable)
Food = $150-$200 per month
Lunches = $20/week (I try to bring lunch 3 days a week). Working downtown food is expensive!
Cell Phone = $50/month
Metrocard = $76/month
Frivolous = $300 (cabs, clothes, movies, plays etc. anything I could technically survive without).
Laundry = $20/month (about what I spend depends on how much I have to dryclean) and drycleaning is $8/suit!!!!)

I am a pretty frugal person. Your employer should take out enough to cover the majority of your taxes. Take your first after taxes check and figure out what you have left to deal with. Let me tell you it is extremely disheartening to look at all the money the government takes from you! Also if they cover health care they will take this out. My company participates in a program where my metrocard is taken out before taxes so that my taxable income is reduced by the amount of the metrocard. I have a mastercard that is refilled monthly with my metrocard fare. This way I don't have to pay taxes on the cost of my metrocard ($76/month). I recently did a comparison to an article I read. Experts say you are supposed to budget 15% for transportation so the savings there go far to cover those added costs of living in the city. One thing that I miss terribly is quality store brands. I generally have to buy brand name food as the store kind is not reliable like the store near my college. Food is much more expensive but I find generally other things comparable to what I spent at college. Plus when it snows I no longer have to dread driving! Good luck but its hard to figure what you will spend until you have lived (and spent) for a couple weeks at least.

NYCchic, you are incredibly frugal!! I don't think I spend a lot on lunches, just pick up salad bar stuff, but it's at least $6-$7 a day. And my laundry is about $30-$40 a month, also not including dry cleaning.

I could really learn from you!

Betoracle,

I am used to being poor in college still so it kills me to spend money. I usually spend about $8/month on laundry. Once every two weeks one load each time. I don't have the joy of a laundry room in my building so I must walk 3 blocks with it. I let my laundry build up when I first moved but I will not soon forget the stress or pain of carrying all that laundry up 4 flights of stairs, not to mention 3 blocks. I am all about the $4.50 chinese or the $5.50 turkey wrap! It also helps that I am not a fan of shopping so I rarely buy new stuff unless I absolutely need to! I do try to splurge on one broadway show per month! We shall see how long I can stay frugal before NYC corrupts me and I start eating out (or ordering in haha) regularly. The convenience of NYC comes at a price... Thanks for the compliment however my mom would be proud to have raised such a frugal child (our motto growing up: never look at the front of the store all the sales are in the back! Gotta love moms!)

Your mom did a good job!

Good thing there's so much free stuff to do here, right?

I am curious NYCchick. Do you live alone?

Don't get corrupted! Stay frugal, you can enjoy life much more. You will always have money for the special things in life, versus having to pay off your credit card.

Good motto! I think our unofficial one is, never buy new, what would be just as good used. We love yardsales (or tag sales as they are called there). It would be the best part of my trip if I found a good tag sale!

bstump88,

Yes I do live alone, in my humble little 250 sq foot studio in the attic!

Humble, but all yours!

Love this thread!