Ask HN: NYC tips to reduce burn rate?

#1

Post by SoftwarePatent » Thu, Jul 25, 2019, 5:39 PM UTC

I'm currently changing my NYC spending from "comfortable software engineer salary" to "startup founder" to prepare for someday leaving my job and concentrating on a startup. Current plan is to move to decrease rent (maybe go back to having roommates), cook instead of seamless, ride my bike more, and try to decrease my student loan payments.

Anyone have any other ideas or tips? I've been a digital nomad before so I might do that too for a while once I get some traction, but I really like it here in New York for a lot of reasons, the QoL here is just phenomenal, best in the world.

Re: Ask HN: NYC tips to reduce burn rate?

#2

Post by opendomain » Thu, Jul 25, 2019, 5:49 PM UTC

My suggestion is to go by size of impact:

Rent may be your biggest spend, so focus on this first. However, do not move too far away as it takes away from your time.

Food can be expensive if you are buying out and using delivery. Buy food in bulk and prep once a week to save time and money.

Ride a bike is good if you are spending too much money on transportation. However, it is dangerous in NYC. Use the subway instead of cabs or Uber. Biking sometimes can also be healthy but be careful!

Compare Student loans vs. your other costs - if the rate is low, then it is ok to defer.

Re: Ask HN: NYC tips to reduce burn rate?

#3

Post by burfog » Thu, Jul 25, 2019, 6:26 PM UTC

To each their own I guess, but I'm struggling to wrap my head around your QoL judgement. You're lacking fresh air and open space, and the selection of wild animals is really limited. Burn rate, and the fear that it generates, probably ought to count as a QoL factor.

Re: Ask HN: NYC tips to reduce burn rate?

#4

Post by pickitupsnake » Thu, Jul 25, 2019, 7:58 PM UTC

If you want to be a founder, then you need to learn sales/bizdev. Try to find some sort of sales gig for weekends and use earnings to pay off student loans or build up your burn pile.