Now if you live in a major city and feel like no matter how much money you make it's never enough, you're not alone. Jacqueline Schadeck of New Perspectives Financial is here to show us how you can live within your means and still live comfortably.

<div class="block">Now if you live in a major city and feel like no matter how much money you make it&#39;s never enough, you&#39;re not alone. Jacqueline Schadeck of New Perspectives Financial is here to show us how you can live within your means and still live comfortably.</div>
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How to Live Comfortably in Your City 

Hi, everyone and welcome to our new show launching this week called Stretching Your Dollar. I'm Christen Scher here at the New York Stock Exchange. And during this half hour, we're going to give you everyday tips to help you make the most of your money. We'll cover topics like how to negotiate better, how to manage your money and how to save for the things that you want all very important. So each day, I'll share my expertise from Wall Street and I'll be joined by experts to find out how we can stretch our dollar. So if you live in a major city and you feel like no matter how much money you make, it's never enough. You're not alone. Jacqueline shade of the new prospectus Financial is joining me now to show us how we can live within our means and still live comfortably. Jacqueline, it's great to have you on the show. And I'm curious to hear what a recent report said on the network that people would need to actually live comfortably in some of these major cities. Thanks so much for having me. Interesting enough C NBC produced a recent study in conjunction with Charles Schwab, stating that the top 13 cities you would potentially need a net worth of over $600,000 to feel financially comfortable. Now, the phrase financially comfortable can mean different things to different people. So whether that's having enough money to stay out of debt, being able to buy a second home, you can see the numbers there that uh Houston comes in at the lowest net worth of just 606,000 in San Francisco and Southern California at the top with 1.5 and 1.7 million. So, uh, Jacqueline, I'm curious, the tips that you might have for people who are trying to set themselves up for success if living in one of these cities is a reality or even a potential. Yeah, absolutely. Right. Now is the time to be really creative with your income and expense planning process. And so ideally, if you're living in one of these major cities and you have concerns about not meeting the net worth, then the idea would be let's find out how we can get you a little bit more income into your household because we know cutting expenses right now can feel really tight. So let's look at our credit cards and assess, you know, are we spending money in the proper areas that align with our values? Ok. And then let's also evaluate how can we get a little bit more income. Can we pick up a side hustle can we do a gig work on the weekend so that we can have a little bit more income coming in so that we can set ourselves up for success. What about housing alternatives in major cities? For lower income individuals? Uh Jacqueline, are there options there? There's absolutely options for those who want to consider housing alternatives in major cities. All right. The first thing to consider is your age. Ok. How old are you? Because a lot of times you can do a quick Google search based on your age and find some assisted living places where people come together and they save on living expenses. Another thing that you're gonna wanna do is make a balance between the cost and the convenience of where you're living. So if you want the convenience of being, you know, within the city limits, it's gonna cost you a little bit more. So you can try and find, you know, shared rooms or shared spaces on Zillow. Um You'll want to be able to rent directly from landlords to be able to have better negotiation abilities. What resources are out there for people who are struggling. I mean, it's not easy certainly when it comes to inflation this past year and a half to live in a big city just to say the least. Yeah, absolutely. As a certified financial planner, I have to let people know that the foundation for Financial Planning is an often underutilized platform. Now, they are available across the United States. They offer pro bono financial planning services to those who may be struggling. So if you're coming in below the net worth threshold for these major cities, but you still want to make that a possibility check out the foundation for financial planning. You can also check out uh legal aid in your state. Almost every state has legal aid where you can also get advice from attorneys. What about specific tips, Jacqueline for navigating inflation? I mean, we've seen it cool a little bit here. Uh At least in June based on the latest data, but it has been a challenge. A real struggle for many people. This past year and a half, inflation still has a lot of us feeling like our budgets are very tight. So right now, we want to again be as creative as possible with our spending because inflation is that sneaky part that gets into everything. And so right now, ideally if you're able to earn a little bit more income, so picking up a, you know, a side hustle gig driving for Uber or Lyft, those things can all be really, really helpful for you to be inflation. All right. Uh Jacqueline, thank you so much for joining, sharing your time and your wisdom. We appreciate it.