This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Is city life worth it?
Depending on where you live can significantly impact your finances.
As we know, housing is the most significant expense we will ever carry through life.
There is no way to avoid the housing expenses- unless you decide to live in your car.
Remote Work Saved The Day & Future Savings
As we observed during the pandemic, remote work took over, encouraging many people to move out of the big cities and into rural areas to be closer to family and save money.
The best thing about remote work is you can work from anywhere – including a trailer, which I know some people are doing now, and their living expenses are nearly zero.
Those who continue to work remotely and live in smaller cities have the luxury of saving and investing considerable amounts compared to those who have to live in big cities.
What I find odd is those who choose to live in big cities and work remotely but can’t afford to live in a big city.
They could leave, but they stay because of how sexy the big city lifestyle is.
Great Memories Or Bigger Bank Account?
If you were (or are) living in San Francisco or New York, how much money do you estimate you’ll need for housing?
Frequently people will need to spend 50% or more of their paychecks on housing in a big city because they don’t earn enough.
In reality, you should maintain housing expenses around 30% or less of your net income.
Radical Idea: Keep your housing costs around 15% or less (ideally 10% or less) of your NET income.
Someone told me the other day they had less than a thousand bucks to spare after acquiring their property in an expensive city.
The memories were epic, but their bank account balance and social life were nonexistent, considering their friends wanted to engage in activities that cost money.
Someone else did something similar.
The place they bought took up 70% of their income.
They had just enough left over every month for utilities, and they had to use coupons for everything.
Not only did they not have any savings, but they were living paycheck to paycheck – never considering if they lost their job, they would be in hot water.
Is The City Life Worth It?
New York is my favorite city. Maybe I will move there at some point, or maybe I won’t. I have quite a few dogs, though, and the condo life wouldn’t be the most suitable since I would live smack dab in the middle of the city.
Maybe I’ll do it one day.
But for now, I will enjoy city life in another state because not only am I enjoying it, but it’s fun enough.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.