It’s expensive to live in San Francisco. Most people understand this, but many Millennials moving to San Francisco still want to take advantage of the perks of bay area living. The SF Bay Area provides plenty of great attractions, a mild climate and, of course, the Pacific ocean, surfing, and Silicon Valley to help you pay your bills.
In 2015, San Francisco was rated as the third most expensive urban area in the Country. Paying a high price to live in the city is just a fact. Millennials moving to San Francisco can still make it work, if they know how to save money. Here are some of the ways you can save and still live in the San Francisco area.
Work a Second Job
Until you advance at your main job, pick up a second part-time job. This may be the saving grace if you want to own a condo or home in San Francisco. You don’t have to work every night to make enough to live on in the city. Just a few shifts behind a bar, at a restaurant or even delivering pizzas can provide the extra money you need.
While it may seem like a lot of work, it may be the best way to afford living in the Bay Area. Even a few hundred extra dollars every week can go a long way.
Use Public Transportation
San Francisco provides great public transportation and was actually rated second in the entire country for public transportation. The BART subway system gives you a good option for getting around, but you can also use the bus system, biking, walking and even ride sharing services. Both Lyft and Uber are found within the city and you can get to where you need to go for a low price.
By using public transportation, you may be able to sell your current car before moving to San Francisco. This could put a few thousand dollars in your pocket and save you on gas and maintenance every month. Consider going carless, getting a bicycle and using public transportation if you want to live in San Francisco on a tight budget.
Get Groceries at Trader Joes
One of the biggest expenses, outside of housing, is usually food. Groceries and eating out can become huge expenses. If you want to keep your grocery budget under control and buy healthy foods, choose Trader Joes for groceries. The store provides good prices on a selection of fresh options and even some organic choices.
Take on a Roommate
Maybe you want to buy a condo, but you know the monthly mortgage payment is going to keep you from really enjoying the city. Taking on a roommate might be the way to supplement your income and pay your bills easily. That mortgage payment could be cut in half, which means more money to enjoy time in the city.
Moving to San Francisco and taking on a roommate can also provide you with someone that knows the area. You might just meet a good friend or at least someone that can guide you to good restaurants and top local places to enjoy.
There are several ways to save money as a millennial moving to San Francisco. It may not be easy, at first, but with the right saving tactics, you can own a condo or home in the city. Use the tips above and take a good look at your budget. There may be other ways you can cut back in certain areas to ensure you get to enjoy San Francisco as a homeowner and not just a renter.