How I’m Saving Money in NYC

by Emily on September 24, 2009 · 5 comments

Times Square in New York City

Times Square in New York City

Tomorrow morning at the crack of dawn, I take off for New York City for four days. I’m attending a conference for two of those days, but I’m staying longer so I get plenty of time to hang out with some of my close friends who live there.

Not only is living there extremely expensive, but traveling NYC can also be pricey. This is my third time to go there in the past year, so I’ve learned ways to keep the costs down. Here are several ways I will save money on my trip to New York City:

1. Renting an apartment. New York hotels can be incredibly expensive. To defray the costs I usually stay with friends, but I wanted to stay in a specific part of town due to my conference. Rather than staying in a pricey and small generic hotel room, I’m renting a studio apartment I found on a very legitimate vacation rentals website. I got a great rate and it has more space than in a hotel room in addition to free Wi-Fi. Vacation rentals give you way more amenities and space for the same price as a hotel (sometimes cheaper). A friend is also going with me, so we are splitting the costs and getting cozy!

2. Eating out less. Unlike a hotel room, the studio apartment has a kitchen, so rather than eating every meal out, I can buy some cheap groceries and cook an occasional meal to save money. This will also allow me to save and reheat leftovers rather than having to toss them out.

3. Utilizing tax deductions. While part of my trip is for pleasure, a good chunk of it is also for my freelance writing business. This means that many expenses will be tax-deductible, such as taxi rides to business events, meals at business events, my accommodations, and my flight. This won’t save me money immediately, but when tax time comes, I will be able to write a lot of things off.

4. Minimizing taxi rides. I made sure to get a studio rental very close to my conference so I can walk instead of having to pay for a cab or subway ride. The only times I plan to use a taxi is when I am going out with my friends at night, when we can split the fare. I also plan to take the train to and from the airport rather than a taxi ride if it works out with my schedule; I’m flying in and out of Newark, where a taxi ride to certain parts of Manhattan is easily $60.

5. Shopping at H&M. You can’t go to New York City without doing at least a little shopping. While it’s tempting to shop along Madison Avenue’s high-end stores or blow money at Bloomingdale’s, I plan stick to stores like H&M, which has very fashionable clothes that are also extremely affordable.

6. Doing free stuff! I plan to do as many free activities as possible. I will probably take a stroll through Central Park, wander along the High Line, and maybe walk around the Times Square area. While I’m sure we will go out to some restaurants and bars, there are many free places to go and hang out. There are always people playing music and doing performing arts outside, and the city is full of people-watching opportunities. It’s often the less-touristy activities in NYC that are the cheapest.

Once I’m back, I will give an update about my experience at this studio rental.

Do you have any tips for saving money in New York City?

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{ 5 comments… read them below or add one }

Jeremy September 24, 2009 at 4:41 pm

Some good tips, Emily. Don’t forget about exploring some areas outside midtown for ethnic eats and offbeat shopping that are likely to be cheaper (and certainly more interesting) than you will find in the middle of Manhattan.

Also, an unlimited ride MetroCard (they are available in various increments, i.e. one day, one week, etc.) may be worth buying if you do end up taking the Subway often enough while you are in NYC.

Have fun!

Emily Gerson September 24, 2009 at 6:40 pm

Great suggestions, Jeremy! Forgot to mention the MetroCards — definitely a great idea for those who will be riding the subway frequently. Thanks for chiming in!

craig zabransky September 25, 2009 at 2:29 pm

Not sure you need to eat out less, just pick the right restaurants. Definitely focus on lunch deals, not dinner. Plenty of great lunch bargains in hell’s kitchen.

Also, shopping don’t forget Century 21. It is an international hotspot. It is downtown across from the WTC site.

And yes, people watching. One of my favourtie spots is Byrant Park. There you can grab a coffee or maybe a lunch to go and sit, eat, read, and of course people watch. Also, it includes great views of the Empire St and Chrysler buildings. It is 40-42nd / 5th-6th.

stay adventurous,
Craig

Michaela Potter September 27, 2009 at 9:20 pm

I don’t know how long you’ll be in NYC or how much your conference will tie you up, but the Municipal Arts Society has some great tours, including a free one of Grand Central on Wednesdays at noon (with a suggested donation of $10): http://mas.org/

Here is a post from my personal blog that highlights it:
http://wanderlustprod.com/wordpress/playing-tourist-in-my-hometown-nyc/

And here are some fun, inexpensive entertainment options:
http://wanderlustprod.com/wordpress/not-your-typical-nyc-tourist-activities/

And I live right by the High Line and highly recommend a visit. Let me know when/if you’re in the neighborhood:
http://wanderlustprod.com/wordpress/the-high-line-nyc/

It’s a great place to view the sunset over the Hudson River. Then stroll down for dinner at my favorite Italian place, Pepe Verde: http://www.menupages.com/restaurants/pepe-verde-to-go/

Cheap and delicious Italian dishes where you sit at picnic tables and drink wine out of plastic glasses. My favorite dish is the Pappardelle with sausage in spicy tomato sauce.

Olga September 30, 2009 at 11:50 pm

@Michaela : I was in Jersey this past weekend visiting my family and my friends took me to the High Line. I am officially in love with it. As if NYC could get any better? Great suggestion. A must see for anyone visiting. I found it very peaceful. Actually painted a great picture of Jersey.

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