How much money would you recommend me to save?

Question

I want to move to New York when Im done with college. I want to do this the smart way by saving up some money to live off of till I get myself settled after moving there. I understand New York is a very high priced city. I'm willing to live in a crap shack, I pretty much do now. How much would you recommend for me to save up to be able to live off for a little bit till I were to get settled?

I'm not asking for an exact estimate. I understand that that would be impossible. It all depends on the apartment I were to get, how much food I were to eat, things like that, just a safe estimate would be greatly apreciated. Thanks for all the answers, weather they help or not!

Jane Marie

Staright answers are greatly apreciated!

Answer 1

You're going to want to save every penny you can. Rent is in the ballpark of $2000 a month for a studio that's anywhere but crack alley. If you find roommates (like two or three) to share a place, you can probably swing a halfway decent place for $1000 - $1500 a month each. Cable will run you about $100 a month. Electric, around the same. Phone can be $40 a month for a company like Vonage, to $90 a month or more.

It's been said that NYC is the only place where a person can make $100K a year and be considered "lower middle class" bordering on poor.

Good luck.

Answer 2

seriously you need to save thousands especially if you won't be working right away( have a job lined up before you move) look at craigslist to get an idea of rent (cheapest i saw in manhattan was about 1800 for a small studio) ditch the car(you won't need it) I know people who saved money, worked there with good paying jobs and still ran out of money after about a year and had to move to cheaper parts(jersey,ugh!)

Answer 3

Ideally, you will need to save at least the equivalent of 6 months of living expenses.

Answer 4

At least $10,000 saved to last you a few months living frugally.