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The Bay Area is well-known for its tech scene and tourist attractions, but it is also infamous for being one of the most expensive cities in America. For anyone considering a move to San Francisco, whether to work there post-graduation or to follow a new professional calling, the statistics can seem daunting. But perhaps this data can be misleading since San Francisco salaries more than make up the difference rent and groceries make, especially if you figure out ways to save money regularly. Most Americans are aware living in the San Francisco area is expensive. The costs of rent, groceries and fuel are well above the national average, but the city makes up for it by offering salaries that also tend to be higher.
If you are thinking of moving to the Bay Area for the first time, here are some s you might expect to see when shopping for places to live and creating your budget. So the overall average rent payment may not be the best reflection of what you can expect to find when apartment hunting. Alternatively, settling down just outside San Francisco can offer the benefits of living and working in the Bay Area without the brutal rent payments. Consider a rental in Haywardfor example, where rent is substantially more affordable. Gas and electricity bills are a ificant expense in most cities in the U.
However, thanks to the mild year-round weather, utility costs in the Bay Area are lower than the national average. Save up to two-thirds of the cost of driving a car by using the Bay Area Rapid Transit system to commute. Many groceries are more expensive in San Francisco than in the rest of the country. The variables that go into creating these high prices are unclear, although high costs of living and labor costs may have something to do with it. Overall, the cost of food is 23 percent higher than the national average. Without university perks or a steady job, living in San Francisco may be a challenge.
Unemployment benefits are lowand with the average costs of living in the city so high, chances are you may deplete your savings before you know it. Fortunately, the job market in San Francisco is promising for aspiring professionals in a variety of fields. While the city is ripe with opportunities for techies and finance professionals, most of the higher-paying jobs are highly competitive.
New graduates will find the tech startup openings in San Francisco are in high demand. Not only are there vast opportunities in this field, but the paychecks are very appealing. While these averages reflect the pay of senior employees, even the salaries for individuals just starting out are higher than national standards. Even for those without specific tech experience, these startups are also searching for sales professionals, facility managers, human resources, ants, business developers and other administrative positions, so there are many ways to get your foot in the door in the tech world.
Learn More About Tech Salaries. You can find the most prominent employer in the Bay Area within the health care industry. More and more hospitals are getting built, which continue to add to that. The finance world offers a lot of high-demand opportunities for recent graduates as well. With abundant banks that invest in tech companies, along with corporate offices of banks like Wells Fargo and the Federal Reserve Bank of San Francisco, positions are rife with opportunity and hefty paychecks.
Often this is an entry-level position, which over time will lend itself to growth and exciting career opportunities. Health care and technology are the industries that command the highest of high-paying jobs, but there are always other fields you can pursue.
Of course, most of the highest-paying jobs require extensive education and experience and are rarely entry-level. However, keeping them in mind will be useful for those looking to transfer to the Bay Area or who want to map out their escalating career path in a given industry.
Naturally, earning such a high salary will require hard work and persistence, but it will be incredibly rewarding in the end, especially if you further extend your earnings to live comfortably. Here are some tips on living frugally and reworking your budget so you can live comfortably in San Francisco. No matter where you live or how much money you make, cooking at home is a much more affordable alternative to eating out every day.
Keeping small snacks with you can also help curb hunger and prevent you from ordering that extra appetizer. If you search for entertainment options on a given day, consider browsing the web for discounted tickets or even free events you may be interested in.
Take advantage of hiking trails, local fairs, free-admission days at museums, matinee movie screenings and other low-cost options. Sending a percentage of your paycheck to a high-yield savings is an excellent way to make your money last longer. The Internet is teeming with advice on ways anyone can save money, regardless of their situation.
Whether you can refinance your student loans, use energy-efficient appliances, get a small side job like house-sitting or dog-walking or thrift-store shop exclusively, there are many ways to create a budget that suits your needs while going a long way. Getting in touch with your employer is also a good idea. Also, negotiate k matching contributions to boost your retirement funds. In the future, you will be grateful you took that extra step. More Budget Tips for Renters. While this is the last on the list, it is perhaps the most critical decision you can make to determine how far your earnings will go.
Housing is usually the priciest investment anyone makes, so finding an affordable place to live will be hugely rewarding and help you save money in San Francisco. Some ways to save on housing include finding rentals that are less appealing to most, which will put a damper on pricing.
Others may recommend living with roommates as the best solution to cutting those costs in half. But at Marcotte Properties, we believe there is a better way. Instead, consider getting all the perks of working in San Francisco without shelling out your hard-earned paychecks on rent by living just outside of the city in places like Hayward, Calif.
Lower rents are just one of the benefits of living outside San Francisco. Marcotte Properties is here to help you make the most of your rental experience.
We have a selection of properties that can suit all your needs and give you the freedom to enjoy the Bay Area and be kind to your budget simultaneously. today to learn more about our available properties, or give us a call at for more information. To begin estimating your living expenses in the San Francisco Bay Area, download our free budget spreheet and feel free to customize based on your needs.
Free Template! Budgeting Tips for Renters. I have lived at Bart Plaza for 10 years. It is a nice, quiet, and clean place to live and the staff is very helpful. Request A Tour. Apply Online. Utilities: Gas and electricity bills are a ificant expense in most cities in the U. Groceries: Many groceries are more expensive in San Francisco than in the rest of the country.
Tech: New graduates will find the tech startup openings in San Francisco are in high demand. Finance: The finance world offers a lot of high-demand opportunities for recent graduates as well. Other Top-Paying Industries: Health care and technology are the industries that command the highest of high-paying jobs, but there are always other fields you can pursue. Cook at Home No matter where you live or how much money you make, cooking at home is a much more affordable alternative to eating out every day. Find Low-Cost Entertainment If you search for entertainment options on a given day, consider browsing the web for discounted tickets or even free events you may be interested in.
Pay Yourself by Saving Sending a percentage of your paycheck to a high-yield savings is an excellent way to make your money last longer. Other Budget-Conscious Tips The Internet is teeming with advice on ways anyone can save money, regardless of their situation. More Budget Tips for Renters 5. Most Importantly — Choose Your Housing Wisely While this is the last on the list, it is perhaps the most critical decision you can make to determine how far your earnings will go.Make money in san francisco
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