Los Angeles is not that expensive. Like most major cities, the majority of your money in Los Angeles will be spent on housing. The part that makes living in Los Angeles difficult and expensive is transportation. While in most cities, you can get around by walking and public transportation just fine, in sprawling Los Angeles this can become problematic. Thus your goal for living cheaply in LA is to live in an area that is walkable, with easy access to public transportation, that will get you to work in less than an hour commute.
Transportation:
If you wanna go cheap, you've gotta ditch the car. Gas, insurance, and car payments will eat up your income.
Buy either a bicycle or a scooter depending on how far and quickly you realistically need to commute. The bike is a surprisingly good method of transportation in Los Angeles, with many new bike lanes being built every day. The scooter will get you places faster for a higher upfront cost than a bike, but the maintenance, gas, and insurance payments are miniscule compared to car.
Buy a monthly metro pass. Many work places subsidize the use of this pass or even pay for it outright.
Housing:
Koreatown offers terrific value for rent while still offering a hip and safe neighborhood. It is central to the city, with easy access to the train and major bus routes. If you will be working Downtown, this is the best neighborhood for you.
North Hollywood also offers terrific value, but you are not central to the city. You are at the terminal end of the Red Line and getting around the valley is a nightmare without a car compared to getting around the city. That said, the nightlife is vibrant and NoHo feels patently different from the rest of the Valley. Up and coming neighborhood. If you will be working in Hollywood or the Valley, this is the best neighborhood for you.
Palms is a sleepy and diverse neighborhood just west of Culver City and adjacent to Venice. There is nothing to do here. If you live here, its because you need a cheap place to live on the west side and don't mind heading to nearby Culver City, Santa Monica, or Venice/Abbot-Kinney for your entertainment. It is within walking distance to the newly opened expo line giving you easy access to Downtown. It is also near several Big Blue Bus stops making it pretty easy to get around the Westiside. If you will be working in Santa Monica, Marina Del Rey, or Culver City this is the best neighborhood for you.
Other tips:
Avoid eating out and hitting the bars. Cook for yourself, drink with friends at home.
Don't live off instant ramen, it's bad for your health and will drive you crazy. If you don't know how to cook, now's a great time to learn. Pasta and rice dishes are easy meals to stretch across multiple meals, as are soups and large meat dishes like roasts and meatloafs.
Rent a room, not an apartment. Besides the cost savings, your roommates will become an important support system in big bad Los Angeles.

Transportation:
If you wanna go cheap, you've gotta ditch the car. Gas, insurance, and car payments will eat up your income.
Buy either a bicycle or a scooter depending on how far and quickly you realistically need to commute. The bike is a surprisingly good method of transportation in Los Angeles, with many new bike lanes being built every day. The scooter will get you places faster for a higher upfront cost than a bike, but the maintenance, gas, and insurance payments are miniscule compared to car.
Buy a monthly metro pass. Many work places subsidize the use of this pass or even pay for it outright.
Housing:
Koreatown offers terrific value for rent while still offering a hip and safe neighborhood. It is central to the city, with easy access to the train and major bus routes. If you will be working Downtown, this is the best neighborhood for you.
North Hollywood also offers terrific value, but you are not central to the city. You are at the terminal end of the Red Line and getting around the valley is a nightmare without a car compared to getting around the city. That said, the nightlife is vibrant and NoHo feels patently different from the rest of the Valley. Up and coming neighborhood. If you will be working in Hollywood or the Valley, this is the best neighborhood for you.
Palms is a sleepy and diverse neighborhood just west of Culver City and adjacent to Venice. There is nothing to do here. If you live here, its because you need a cheap place to live on the west side and don't mind heading to nearby Culver City, Santa Monica, or Venice/Abbot-Kinney for your entertainment. It is within walking distance to the newly opened expo line giving you easy access to Downtown. It is also near several Big Blue Bus stops making it pretty easy to get around the Westiside. If you will be working in Santa Monica, Marina Del Rey, or Culver City this is the best neighborhood for you.
Other tips:
Avoid eating out and hitting the bars. Cook for yourself, drink with friends at home.
Don't live off instant ramen, it's bad for your health and will drive you crazy. If you don't know how to cook, now's a great time to learn. Pasta and rice dishes are easy meals to stretch across multiple meals, as are soups and large meat dishes like roasts and meatloafs.
Rent a room, not an apartment. Besides the cost savings, your roommates will become an important support system in big bad Los Angeles.
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