Las Vegas isn’t one of the most expensive cities in the United States. However, living in Las Vegas can still be expensive, keeping many people from moving to this city. If you’re interested in moving to Vegas but have some concerns about cost, you’ll want to keep these tips in mind.
Work To Keep Your Housing Costs Reasonable
One of the biggest expenses you’ll have to cover if you choose to live in Vegas is the cost of housing. Experts generally recommend that you spend no more than 30% of your income on housing.
If you can afford to buy a home in Vegas, now may be a great time to do so. Not only are interest rates low, but the values of Vegas property are on the rise. If you do buy a home now, you can expect to see an impressive return on that investment.
If buying a house isn’t in the cards for you currently, there are plenty of other options that you can explore. For example, you could consider a roommate. Crunch the numbers and figure out what you can afford to spend on housing. From there, search for options that are within that price range.
Put Together A Budget
Even when you live in an area with a high cost of living, you can manage your expenses if you set a budget and stick to it. Take the time to track your expenses to get a better idea of where your money is going. From there, you can use the data you collect to build a budget.
When you build a budget, you’ll want to make sure you include all expenses, even expenses that you don’t have to pay every month. For example, if you pay car insurance every six months, you’ll want to budget for that. Living on a budget can be a big adjustment, but you’ll find that you have less financial stress once you get used to it.
Get Rid of Your Car
If you are moving to Las Vegas, another major expense for many individuals is a car. While having a vehicle can be very convenient, you won’t necessarily need to own a car in Vegas, especially if you live in the right location. You’ll have access to many types of public transportation, including the monorail system. Because of the climate, you can also get around by walking or biking.
If you no longer have a car payment, you’ll have more money that you can put towards other things, like food and housing. You can also avoid paying for gas and parking, which can save you quite a bit of money.
Change Your Eating Habits
When you’re in Las Vegas, you’ll have access to all kinds of excellent restaurants, especially when you’re near the strip. However, it’s best to place strict limits on how often you eat out. Food can be a considerable expense, and you’ll spend a lot more to eat at a restaurant.
Having food delivered can be especially expensive. Not only will you be paying for the food that you are ordering, but you’ll be covering additional expenses as well, like the tip and delivery fees. If you limit yourself to dining out just once a week, you’ll spend a lot less in total.
Take Advantage Of Cashback Programs
Spending money to make money often sounds too good to be true, but it’s possible if you take advantage of cashback apps and credit cards. It’s possible to earn back a percentage of the money that you spend, which means you’ll have more money to play around with.
Try to use cashback cards strategically. For example, many landlords in Las Vegas allow you to make your rent payment via credit card. If you do this, you’ll essentially be lowering the amount of money you spend on rent.
With that said, you’ll want to show some caution, particularly when it comes to using credit cards. Never spend money that you don’t have simply because you’ll be earning cashback. When you put a purchase on your credit card, you should know that you’ll be able to pay it off in full at the end of the month.
Be Smarter About How You Shop
There are all kinds of ways for you to save money when you’re shopping. In Vegas, you’ll have access to many grocery stores. Look at sale papers and compare prices so that you can find the best places to do your shopping.
You’ll also want to use coupons when possible. The savings that a coupon offers might not seem like much, but those savings can add up over time. Using coupons is easier than it ever has been. There are even apps that will allow you to clip coupons digitally. You can look for savings opportunities when you’re waiting in line.
Lastly, you should try to shift your shopping habits. Try to avoid impulse purchases as much as possible; these purchases can add up quickly. If you’re a little more thoughtful about how you spend your money, you’ll be able to put that money towards items you really love. Shopping smarter will also allow you to afford to live in Vegas.
If you have concerns about the cost of living in Las Vegas, you’ll want to keep these suggestions in mind. While Las Vegas can be expensive, there are plenty of steps you can take that will make a living here easier on your wallet.