Living on a budget isn’t always easy to do. Unfortunately, I learned the hard way having to sleep on a couch all summer and sharing a quarter of my brother’s closet in a cramped, midtown Manhattan apartment. The best way I learned how to budget my money and keep my costs in check was by realizing my situation—broke college student interning in one of the most expensive cities in the United States—and accepting what my day to day would entail for nearly 3 months.
Quick Budget Cuts
Like any collegiette, I was excited to be a working, city girl. I imagined going to Starbucks every morning on my way to work (before reality set in). A $4 Americano 5 days a week doesn’t fit the mold for someone who is planning on living on less than $75 dollars a week due to an unpaid internship. First thing first: I had to cut the coffee. As much as I loved my morning fantasy, I realized how quickly my account would deplete if I treated myself to something I could easily make at home. Everyone loves the satisfaction of a hot cup of Starbucks coffee, but being realistic should always be a priority. Before work, I used my brother’s coffee maker and put it in a to-go mug. Buying ground coffee or beans will save astronomical amounts of money if you’re living on a budget and soon, you’ll realize what a waste $20 on coffee a week turns out to be. Don’t get me wrong, though, I broke my own rule once or twice.
Drink at Dives
Because I am a typical girly-girl and love my nights out on the town, I realized that going to trendy places was not the best place for my credit card. As much as I wanted to frequent One Oak, Cafeteria, and other trendy spots that Chelsea had to offer on Thursday nights, I decided that those splurges were only for special occasions and once in a blue moon. During my summer extravaganza, I found places close by that did not charge $13 for a gin and tonic. I also came to find out that these local neighborhood spots were filled with the people I wanted to associate with—true New Yorkers and average people like myself. I’m not a Rockefeller or a Socialite, no sense in trying to pretend I could afford to keep up. Another great aspect of going to local hot spots is your friends can afford them, too. No one feels as though they need to penny pinch or take out a loan to have a fun night out.
Shop Smart
Of course, it comes down to the question we all hate: what do I wear? If you’re on a budget, chances are you can’t shop for every occasion. My advice to my friends and myself this summer was simple—wear the basics. A quick trip to H&M, and you can find outfits that are interchangeable and cute. A simple black dress with heels is classic and looks great with a little twist. I had a few shirts that I could mix and match for color and create different styles, while wearing nearly the same thing; no one caught on to my little secret! Personally, I find the cheap “going out clothes” (as we commonly refer to them) to be a waste of money. If you can find a few cute things that fit well and wear frequently, you’ve already saved your wallet a beating at Forever 21.
Having been fortunate enough to have an experience like living in Manhattan for a summer, I decided that I would live within my means to keep from being miserable and penniless. I know I can’t write about my lavish nights at the Standard Hotel, but the savings I have and the memories I’ve made beat any excessive outing by a mile.