NYC Smart $avings - hacks to save money in one of the most expensive cities in the world
Or where and how my husband and I choose to spend - and save - our money while living in the Big Apple.
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Ok, so here's one fact about myself: I didn't grew up in wealth - but I can't say my family was poor. And let's state that I learned pretty early on the importance of spending money wisely.
I think I was led by example. Since my mom only went to the university after having my brother and only got a formal job after that, we've witnessed her making cakes, proofreading academic projects and doing some craft work in order to make some money while my dad supported our family with a small business selling beverages for bars and events.
When I was 13y old, I started selling Avon products with an account under my mom's name. Don't be fooled: she never ever needed to step up; I was the one taking care of my little business, knocking on neighbors' doors, placing orders, delivering products, and collecting payments. The money I would make with my commissions was enough to pay for some clothes here and there and a subscription to my favorite magazine. Fast forward to college, I was able to get a paid internship during my first year - and landed a great job when I graduated - something that guaranteed my independence living in another city.
You don't spend more than what you make has always been my mantra - and I'm really grateful for being married to a guy that shares similar values with me when it comes to spending and saving money.
I must say that, sometimes, my scarcity mindset doesn't benefit me at all - but I truly believe that, for a lot of other times, it helps me to be really meaningful about the way we spend our money.
Life in NYC
New York City is a pretty expensive city and a quick Google search will show you some evidence, lol. Besides housing prices, the other cost of living can really add up - without even mentioning things like entertainment and dining. After the pandemic, I guess we all felt more and more the effects of price increasing - and let's face it: the future is not looking that good.
But, either way, more than 8 million people figure out how to make it here every day. From my point of view, New York City is, for sure, a very expensive city - but it's also an amazing place to live, considering everything you have around you. Of course, this depends on what you prioritize and what are your values. It's a trade-off. I absolutely love the peace of mind of not needing a car and being able to run my errands within walking distance and having tons of things to do - a lot of them for free - by taking a subway, a bus, a ferry, or a bike.
With that being said, I believe that spending and saving money depends on each person's values and priorities. I don't believe in cutting your favorite capuccino to save a few hundred bucks per year. I changed that mindset after reading I Will Teach You to Be Rich, by Ramit Sethi. On the book, he talks about living your "Rich Life" which isn't about budgeting every dollar or retiring early to live frugally.
He proposes a values-driven, intentional approach to money that prioritizes spending extravagantly on what you love and cutting mercilessly on what you don't. Think of it as living a life aligned with your deepest desires—not just saving or optimizing for retirement. And that's how my husband and I try to manage our financial lives.
For us, for example, our "rich life" includes experiences - dining out, entertaining and traveling. That's where we choose to spend our money. On the other hand, I couldn't care less about luxurious handbags or beauty products in fancy packages. I'm all about quality, though. Everyone has their priorities.
Neither less to say, you can adapt the approach to your values - over the past few years, I've become more and more aware of my impact on the world, and I also take the environment/ sustainability factor into account, especially related to shopping.
Ok, without further ado, let me list some of my tricks and tips to save money while living in NYC (some of them are good for other places in the country as well!). Please note some of these tips are also connected to our wish to live a life without overconsumption with a more sustainable approach.
1. Second hand first or: I refuse to pay full price for anything
So here's the deal: if I'm buying electronics or clothing, I'm going second hand first. America is the country of over consumerism and, I guess, the country of buyer's remorse. Chances are, there is someone out there selling the item I'm looking for. It can not only save you money, but it's also better for the environment. Not only I shop through these platforms, but I also sell my stuff on these platforms as well.
For electronics, kitchen appliances, and furniture
Facebook Marketplace is my number 1 resource for finding people selling furniture, electronics, and gadgets. For reference, here are all the things I've already bought through Facebook Marketplace:
A Ninja juicer;
A brand new Almond Cow plant-based milk machine;
A brand new Brod & Taylor proofer;
A Giant bike;
A monitor;
A Ninja Creami.
For all these items, I saved at least 40% when compared to new full-price items.
Some of my tips when shopping on Facebook Marketplace are:
Checking the location of the listing - I'm not going to Staten Island when I live in East Harlem to pick up a product. My time is precious and I take that into consideration when doing my research.
Make an offer - as someone who also uses Facebook Marketplace to sell stuff, I can tell you everyone has some wiggle room. Don't be afraid to ask for a discount.
Limit your transactions to cash-only for transactions above $50 - it's safer for everyone. Let's say I'm experienced on that, lol.
I also like to search on Mercari, eBay, Karrot and Craigslist.
For clothing, shoes and accessories:
When it comes to clothing, I prefer shopping secondhand online rather than at thrift stores. I think it's easier to look for specific brands and items. And this is a topic that deserves a dedicated post, but for now, I will share my favorite resources/websites/apps to shop for secondhand clothing online:
Beni - a free and easy-to-use extension. When you open a product you have an eye on, just click the extension and Beni will look for that item in all their partner secondhand websites (like Poshmark, Mercari, The Real Real, Depop…). When you find something you like, simply click ‘View’ and you’ll be taken to the relevant resale site to check out. You can also use their search.
Poshmark is one of the most popular apps/websites for buying second-hand clothes. And you will find not only clothes but also shoes and accessories from the most diverse brands – You can filter by categories, size, color, gender, brands, and even condition of the item – you can find brand new clothes with tags, look for NWT (new with tags). Remember to make offers! Sign up with code LAURAPERUCHI and save $10 on your first order.
thredUP - it's an online consignment & thrift store that sells women’s and kids’ secondhand apparel. It’s not a marketplace – you are buying from thredUP, which is an advantage: since they are in possession of all items and, because of that, every item they receive undergoes rigorous quality inspection before being listed. To give you an example, you can find Madewell jeans for like $20-$30 (a new one is usually over $100!). Here's a thredUP haul.
Depop - with a desktop and an app version - it features an easy to navigate interface that uses an algorithm to show you brands and items aligned with your taste. For the brands that I use to search for, I think the prices are even better when compared to Poshmark - and remember that Depop is also a marketplace, you're buying for other users - and you can make offers.
For books
I guess we all think that Amazon is the best place to shop for books when it comes to price, but, surprise, surprise, not always!
Depending on the title, buying used books can be way cheaper than buying a new one on Amazon. I really like Thrift Books - they have a huge selection (it's the world's largest online independent used bookseller) and even offer free standard shipping on US orders over $15. I recently placed an order of 6 books for $46 - which is $6 per book, on average.
Another tip is checking PangoBooks. It's a marketplace where people sell the books they don't need anymore - a great place to list the books you're not gonna read anymore - and to find great deals.
2. Optimizing grocery shopping
I know, I know: groceries can be really expensive in New York City - and we were even more shocked when we got back from Madrid back in February. I think when it comes to groceries, we have to optimize and being smart with our time and the resources around us. For this, you need to know what are the best grocery stores in your neighborhood.
In our case, living in East Harlem, we are close to East River Plaza - a shopping destination that is home to a Costco and an Aldi location. I guess everybody knows Costco - but in case you are not familiar with Aldi, consider it like Trader Joe's cousin. They have their own products and their prices are really really god. So, among Costco and Aldi, we are able to cover 90% of our groceries needs.
And I know when we talk about Costco, a lot of people think: oh, I don't have enough space for storage. - or, it's just me and my husband. Well, first of all, not everything sold at Costco is THAT huge. Secondly, yeah, my husband and I would never eat a huge mayo before it goes bad - but there are so many other things buy that are shelf stabled and/or you can always freeze a lot of things.
I had that impression about Costco. But a friend of mine convinced me when she showed me what she got - and she also lived in a small household. You can always go to a location and ask to get in and explore - we did that in the past, just to browse it and see what was available.
But, of course: if you don't own a car or if you don't live relatively close to a Costco, I don't think a membership is that worth it - the more the hassle, the less you will feel willing to do it, so, keep your life simple - although Costco is also available on Instacart (for members), so that can be an option as well.
I also like to take advantage of the fruit stands whenever I have a chance - in my neighborhood, they are more rare, but in other areas like the Upper East Side, it's easier to find them and they sell produce for amazing prices.
So, my advice is checking your surroundings. Unfortunately, Aldi has only a few locations in New York City. But it's not the only grocery store offering more affordable prices. Trader Joe's is incredible - and has more locations in the city, as well as Lidl (they have a few locations, with more to open in the future.
PS: would love to know your tips about other grocery store chains that are affordable and available in NYC.
3. Refurbished or "open box" items
When it comes to shopping, my mindset is giving it a lot of thought before deciding to pull the trigger - and then, my mantra is: if I'm going to buy it, I will find the best deal possible. If secondhand is not an option, then I can also check for refurbished* or open box deals. It's an excellent way to save money.
To give you some examples, when I decided to buy my KitchenAid mixer a few years ago - which happened to be an excellent purchase - I ended up getting a refurbished version. The brand has a wide range of refurbished products - with warranties - for almost half the price!
Refurbished items are so common that Amazon has a dedicated section on their website called "Amazon Renewed: Shop Refurbished, Pre-Owned and Open-Box products".
Back Market is another popular online retailer offering deals on refurbished phones, laptops, and tech at Back Market - and prices are up 70% off when compared to new products. They offer free delivery, a 1-year warranty, and a 30-day money-back guarantee. My husband bought his Apple Watch on Back Market.
I recently discovered Woot, owned by Amazon, which specializes in selling discounted items, including new products and refurbished or "open box" items. Last month, when I decided to purchase a Hatch Restore 1 (a phone-free smart sleep clock and sunrise alarm), I found one on Woot for $40 - a new one is $100.
*A refurbished item is a product that has been returned to a manufacturer or seller, inspected, repaired if necessary, and then resold—usually at a lower price than new.
4. A cheap gym
I still want to write a post about my fitness journey - but let me just tell you that we live in East Harlem, a neighborhood that still lacks some services and entertainment options when you compare it to other areas like the Upper East Side, for example.
And when it comes to gyms, it's not different: there are not a lot of options around us. When we decided to start strength training - almost three years ago - we were already commuting to go to an Orangetheory location in the UES and I didn't want to do that for the strength training.
The options around us were Blink Fitness - which, according to reviews, was not that good - and Planet Fitness. I must say I was skeptical about it, even after touring the location. I know, I know, part was prejudice. But because it was so cheap, we decided to give it a chance. I am happy to report that the gym is always clean, the staff is super friendly, the equipment is fixed pretty quickly when broken, and we pay $40 per month for two memberships (mine allows me to bring a guest whenever I want).
So my point here is: I don't need a fancy gym. I'm not judging who chooses a fancy gym, and perhaps I would splurge if I had the option. But I don't have one, LOL, and that helps me save money as well. The equipment used at Planet Fitness is from the same manufacturer as the equipment used at Equinox. I'm not saying the places are comparable, lol, and I also know that probably not all Planet Fitness locations will be as nice as ours.
As Ramit Seith taught me, a rich life is about spending extravagantly on what you love and cutting mercilessly on what you don't. This cheap gym is cutting for now, so good for us. And in case you're wondering, I do strength training 4x a week, so, yeah, it's not because it's cheap that I don't take it serious.
5. Online workout classes
I think online workouts are an amazing way to move your body - and save money. And I say this from the experience and point of view of someone who spent almost 4 years working out from home. As I mentioned, I will write a post about my fitness journey - but for reference, I did resistance training with a personal trainer online 3x a week, and I took cardio classes 2-3x a week using online platforms. Working out from home brought me good results and created discipline and willpower that made me seek other challenges - hence the fact I then switched to strength training at the gym.
But I'm still relying on online workout classes. I've always loved Pilates and I wanted to get back to it - but Pilates classes at studios are expensive. To be honest, I was willing to make the investment - but my issue was that Pilates would be a complement to my fitness routine, so it would be easier to have more flexibility with the classes. My main focus is strength training and running. So, after doing some research on Pilates subreddit, I discovered Move with Nicole and also Burn Pilates, both on Youtube. These two channels offer FREE classes led by two incredible instructors. Burn Pilates also offers paid subscriptions with exclusive content for an affordable price (starting at $5).
And yeah, I'm committed! I started almost a month ago, and I've been taking two classes a week without failing. Again, it's about what is important to you! I know a lot of people prefer to go to studios, but at this time, I'm happy with the flexibility of taking Pilates classes from my living room.
6. Canceling Amazon Prime
Listen, I know Amazon Prime is a very convenient service. And we used it for over 10 years - until recently when we decided to do a test and cancel it.
Truth is sometimes we end buying things just because it's easy, convenient and fast and we didn't think a lot about it. Online shopping has that effect. Unfortunately, it was only noticeable when we canceled it.
Plus, you can still get free shipping when shopping on Amazon for orders over $35. So far, I think we placed two orders only - and no kidding, we used to have AT LEAST two packages per week delivered to our door.
When we decided to cancel, it was not about saving the money we were spending yearly with the membership - but about avoiding unnecessary and non-urgent purchases. And perhaps supporting more local businesses as well - another day, we needed a door stepper and instead of placing an order on Amazon, I went to a local store in the corner. It was quicker than Amazon Prime - and it felt good to help a small business.
7. Turn your rent into points
Since we pay a lot in rent in this city, why not taking advantage of that? When a friend of mine told me about Bilt, I immediately signed up for it. It is a program that allows you to pay rent with a credit card without incurring the typical transaction fees.
You’re already paying a significant amount, why not get some perks? You can use your Bilt credit card to pay the rent and, through the Bilt Rewards program, you get points for each dollar spent on rent. These points can then be redeemed for various rewards like travel, shopping, or even a down payment on a home. Over the last year, I was able to redeemed a round-trip for me and my husband and other two one-way tickets, just to give you some examples. And there's no annual fee, another plus.
Your landlord only accepts checks? You can set up that on Bilt. So, it doesn’t matter if it’s a bank transfer or a check, Bilt got you covered.
Quick Math: If you’re paying $3,000 per month in rent, and let’s say Bilt gives you 1 point per dollar, you’d get 36,000 points per year. Depending on the redemption options, that could be a round-trip flight, several hotel nights, or hundreds of dollars in gift cards.
Bilt also gives points on other purchases – like dining and shopping!
8. Rent stabilized / lottery
Like I already mentioned, rent is so damn expensive in New York City - and considering you spend a lot of money upfront to rent a place - security deposit, possible moving fees, new furniture - you better stay in your place for a while (unless you find a pretty good deal!).
But who wants to stay in an apartment which price goes up and up and up every year at a not reasonable rate? Enter: rent stabilized.
In New York City, rent-stabilized apartments are a type of rent regulation where landlords can only increase rent by a percentage determined annually by the Rent Guidelines Board, offering tenants protection against excessive rent hikes and ensuring certain units remain affordable. Typically, rent stabilization applies to apartments in buildings with six or more units that were built before 1974, and also to newer buildings that receive tax breaks for having units that rent below the market rate.
Since moving to NYC, more than 11 years ago, we only lived in rent stabilized buildings, which brings such a peace of mind - and no surprises. There are a lot of resources online to find if a building is rent stabilized - check this thread on Reddit!
Also, there are no income restrictions or household size requirements - which is different from another way to rent an apartment for a reasonable price and that's called housing lottery.
Developers who receive tax incentives or subsidies from the city set aside a portion of their units for this program, ensuring that these apartments remain rent-stabilized, meaning rent increases are regulated. People earning a wide range of incomes can apply to win affordable apartments and co-ops in New York through this lottery system. For reference, in 2024, the AMI for a three-person household in NYC is $127,100.
9. Cheap lunch week meals
If you work in a corporate job and have to go to the office every day or even some days a week, the expenses with lunch can really add up. Doing meal prep would be the cheapest alternative comparing with eating out. But there's an option in the middle and it's called MealPal. This is a subscription-based service that allows customers to purchase meals from participating restaurants for less than $6 per meal.
Meal Pal offers different plans, with a specific number of credits that allow you to redeem a meal. They have a plan where you get 120 credits for $139 and another one where you get 70 credits for $89. Depending on your plan, each meal will cost as little as $3.48 or $3,81 per meal. My husband works from the office at least three times a week and he loves using MealPal for his lunch meals.
10. No food delivery
When it comes to eating, we like to spend our money on great restaurants and experiences - meaning we rarely order food delivery. First, I don't think all the foods are that good when delivered. Secondly, there are so many taxes and fees that add up to the final amount that I feel I'm always overpaying for food - and yes, I know, you are paying for convenience. And listen, I don't like to spend hours and hours cooking dinner every night, but there are tons of ways to make simple, quick, and delicious meals at home.
And one of those ways is optimizing meal prep at maximum. We always have prepared food in our freezer - things like quinoa, brown rice, farro, beans, and stews plus frozen veggies and fruits. This way, it's easy to put together a salad, a wrap or a bowl for healthy and quick dinners during the week. I really believe knowing how to cook is not only beneficial for your bank account but also for your health.
I know that meal prep in batches can be boring and time-consuming - and, sometimes, we don't want to "waste" precious weekend hours to cook. What I try to do is take advantage of the time I'm already in the kitchen to optimize and automate some processes. For example, if I'm cooking quinoa for dinner, I would rather cook a bigger quantity to have leftovers to freeze.
Also, over the years, we invested in kitchen gadgets that facilitate our daily meals - my air fryer and an my instant pot are the two things I use the most to speed the cooking process.
Other tips to save money in NYC and beyond
Here are more hacks recommendations that can save you money - or giving you access to more experiences for less.
Buy Nothing –Facebook groups to get -and donate - free stuff in your neighborhood. Just find your community and join. I got some stuff for free like a toaster, new expensive shampoo and conditioner, a dog gate, a bar cart, new dog toys – and a baby bouncer for a friend – and I’ve also used the group to donate things I didn't need anymore. Since it's about connecting neighbors, people don't need to go that far to collect the free stuff - we don't want to waste our time, remember?
Also, it's a good place to ask people around - for example, another day, I wanted to buy a foam roller and before doing so, I decided to ask on the group if someone had one that they were not using anymore. Bingo.
Seated – Are you familiar with cashback? Basically, you get rewards for eating out using Seated. Open the app, browse the restaurants, make a reservation (or choose walk-in). When you’re done, submit a pic of your receipt. Cashback rewards can be more than 30% sometimes! There are so many restaurants and you can also use Seated for takeout and delivery. You can redeem your rewards on the Seated store (you can get gift cards for AmazonSephora, for example).
Seated is also available in Chicago, Boston, Philadelphia, and Atlanta!
Too Good To Go – this app was created to help prevent food waste from restaurants. The app features bakeries, cafes, and restaurants with options for a third of the price they normally would cost. Keep an eye out: some options are “surprise bags”, with a selection of items. You can grab lunch, dinner, or breakfast for great prices depending on the options near you. Also available in other US cities and around the world!
New York Public Library e-reader app – you can browse 300,000+ free e-books from the Library. You can download SimplyE – NYPL’s Free E-Reader – which allows you to browse, borrow, and dive into e-books and audiobooks on your mobile device. More information!
Private language classes – if you have a budget to invest in private language classes (or whatever language you’re learning), you can save a lot of money by taking online classes – compared to, for example, language schools.
And, for that, I highly recommend checking italki. It is an online platform that connects students and more than 10,000 teachers around the world. There are dozens of languages: French, Mandarin, Italian, Korean and more! I’ve already used italki for English and Spanish! Click here and register.
IDNYC – this card is amazing and free, with a lot of benefits. Every person living in the city can apply – and your immigration status doesn’t matter.
Among the benefits, there are special discounts for ballet and other performances, plus free memberships for institutions like American Museum of Natural History, Brooklyn Children’s Museum , Metropolitan Museum of Art, Museum of Modern Art, Museum of the City of New York e Whitney Museum of American Art.
the skint – I love this newsletter! It sends you tips for free and cheap events in New York: food, drink, concerts, movies, comedy, sales, art, and more. Click to sign up!
NYC for FREE Newsletter – this is another great newsletter – an excellent weekly resource to discover top weekly free events in NYC, events on the radar & more!
Broadway on a Budget– this website lets you know the cheapest ways to get tickets for Broadway plays and musicals – meaning rush rickets, online lottery, and so on. People living in the city have more time to try their luck – I recommend, in the case of lotteries, putting a reminder on your cell phone every day to try.
Rakuten – one thing that I really appreciate about online shopping is how it gives me the chance to find better deals – and, in this case, I can also get money back through Rakuten. Listen, if I will buy it anyway, I'd better take as much advantage as I can, lol.
Hope you guys like this post! Remember: a rich life is about spending money on the things that really matter to you and save on other ones that are not that important. I hope some of my tips and hacks can help you or inspire you!
Quantas dicas boas! Obrigada, Laura!
Thank you so much for this post!!!