New York City costs the average tourist over $300 a day on food and accommodations alone. If that number is keeping you from planning a trip, don't let it. There are many ways to save money in "the city that never sleeps."

Transportation

Public Transportation

New York City public transportation is one of the best in the country. Most buses and subway lines run 24/7 and it's unlikely that you'd be stranded anywhere. For a $2 fare, you can travel anywhere in the city, connecting and changing subway lines as many times as needed as long as you don't exit the station; if you do, you will have to pay again.

To travel, you need a Metrocard (tokens are no longer accepted), which you can buy for any amount you want. If you're staying in the city for a period longer than a week, it may be wise to buy the 7-day card, which lets you travel an unlimited number of times during a week for $27.

Free Shuttle

Downtown Connection is a free shuttle bus service in downtown Manhattan. It runs between Battery Park City and South Street Seaport, and passengers can hop on and off as many times as they want throughout the day. The shuttle runs seven days a week, from 10am to 8pm.

Renting a car may be cheap but not the best option in New York. Parking is inconvenient and expensive, and traffic is usually horrible. You're better off sticking to public transportation.