The cost of living in New York City has always been high, but now it is the highest it's been in years. Rent won't come cheap, especially if you want to live in Manhattan, and nine times out of ten: Nothing will be included with your rent.
Yet even with the odds stacked against you, there is a way you can still save money on your bills while living in the most expensive city in the world. Here is how to save the most money on your bills without stress.
Wash Your Clothes in Cold Water
It may seem silly, but 90 percent of the energy that a washing machine uses goes towards heating the water. If you're lucky enough to even have a washing machine, cut your energy use in half by washing clothes in cold water. The clothes will still get clean, and your energy bill will be cut in half.
Turn Your Heat or AC off When You Leave The House
This may seem like a no brainer, but you'd be surprised how many people forget to turn off appliances when they're in a rush to get out the door. If you really wanna cut down on energy costs, make sure your heat or AC is only one when you absolutely need it. Otherwise, throw on a sweater or take a cold shower.
Change and Clean Your Filters
It's a tactic many people aren't aware of, but taking a few minutes to clean your air filters actually increases the efficiency of your appliances. If the air filters or clogged and dirty, the units will have to work harder to pump out energy, thus increasing your monthly costs.
Check for Leaks
Many of the apartments in New York City are pretty old, so it's common that door frames, windows, and basements will have air leaks. Take the time to figure out if you have any leaks in your apartment. Leaks will let out heat or AC, thus requiring you to use more energy in order to get your fix. To seal them up, purchase Caulk from any hardware store, and you're guaranteed to get more bang for your buck from your appliances.
Load Up Dishwasher Properly
Many people think that after dinner, you load the dishwasher with your dishes and run it immediately. Chances are if you haven't taken the time to get excess food off of your plates and bowls, then they are not gonna be cleaned properly. Make sure to scrape off any scraps as best as you can before loading your dishes into the dishwasher. Also, make sure the dishwasher is loaded up all the way before running it. Both of these tactics will save you a ton on electricity.
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Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.