How do you budget to live in NYC? — The Bump
New York Babies

How do you budget to live in NYC?

I am really starting to freak out by all of the info I"m getting.  We'll start out renting... but I eventually want to own a home.  I just cannot see how we'll save for what we would want in that area. Maybe commuting will be in my poor dh's future? 

Is it really as tough as I'm thinking?  We should still be able to save, but then I think of schools and daycare and think what if it's more expensive than what I've read????  eek!

Re: How do you budget to live in NYC?

  • We are slightly freaking out. Pregnancy happened about a 1 year before we were ready. DH just finished his MBA and we were moving back to NYC to get settled and save some and then I got pregnant the 1st month back while we were still living in Hoboken i a 1 bedroom. Now we are moving back into the city after Izabella is born, upgrading to a 2 bedroom and getting a nanny (daycare waiting lists are so long). We are basically going to be back on a budget we were on right out of college when we 1st moved to NYC. It is going to be tight for awhile and it is so expensive but we are trying to take out all the positives. We LOVE NYC and think it is a great place to raise a kid. You can walk everywhere, they have everything available for them...both our careers will probably always be here (I am in retail & DH in finance) so gotta make it work. Probably won't buy for a long time and start saving for school now. While schooling is expensive there are a lot of ranges in prices and there are some great public schools. Just gotta do so much research earlier and apply early. We might move to CT for kindergarden and up, all depends on the next few years but we would rather not have as much money and spend more time with our baby than have an hour+ commute to and from work everyday. All in how you look at things.
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