Main Street Finance

Smart Budgeting Decisions for Washingtonians

By Andrew

Smart Budgeting Decisions for Washingtonians

Photo: http://www.tradingacademy.com/ via Flickr

Washington DC is an amazing city to live in. It’s spacious, it’s always bustling with energy, and it’s just an overall fun city to enjoy. These amenities can come at a cost however. DC’s cost of living is one of the highest in the country and it doesn’t seem to show any signs of slowing anytime soon. For tourists this may simply mean vacationing for one less day than you’re used to or rearranging the dates you visit. But for citydwellers, an increase in the cost of living can really put a damper on your mood. Even so, we’re here to tell you that as long as you remain financially savvy, thriving in a big city with a small wallet isn’t as hard as it looks.

Learn to Cook

It’s time to stop buying take-out so much and to start using your kitchen for what it was made to do. Cooking is a very simple way to start budgeting your money, plus it can also help you learn portion control and get you healthier in the process. Are you not the best chef? No problem! There are plenty of cooking episodes on Youtube that teach you how to cook simple and elaborate meals step-by-step.

Opt for Older Neighborhoods

It shouldn’t be a surprise that the real estate prices of newer neighborhoods are typically higher than older neighborhoods. So if you’re trying to budget your money, consider living a little further away and opt for older neighborhoods. They are just as cozy, and depending on where you commute, it might actually be worthwhile. For instance, Park Van Ness has plenty of nice apartments on Connecticut Avenue, and some of them come with more luxurious amenities and more square footage than similar apartments in downtown DC.

Find Deals for Entertainment

Thankfully, DC is one of those cities where it’s very easy to have fun. The good news is, you don’t have to differentiate between saving money and having fun. With a little bit of research beforehand, you can become well-versed in the best places to go to save money and still have a good time. Groupon is a great place to find deals and steals on restaurants, travel, and other activities. And don’t forget about the Kennedy Center’s Millennium Stage with free performances every night of the year at 6 pm.

While the expenses of city-living may seem daunting and at times, beyond your comfort zone, it’s important to remember these quick tips on how to make your dollar go the extra mile in DC.

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About Andrew

Andrew is a corporate finance consultant living in Los Angeles, specializing in distressed and bankrupt consulting. He helps clients review business plans and the general market and decide what steps to take next. He has a masters in finance. Andrew enjoys running and biking in the San Gabriel mountains, cheering for the San Francisco Giants and eating (but trying not to gain weight).