WHAT COSTS DID YOU HAVE?
First of all: New York is expensive - very expensive! I saved up in advance for my time in New York, but without the support of my parents, I probably wouldn't have been able to enjoy the privilege of living and experiencing the city for three months. The high costs cannot be offset by the LBV purchasing power compensation either. Even if I had received additional remuneration during my elective rotation (which is usually only the case in the larger international law firms), it probably wouldn't even have been enough to cover the rent. It was already costing me around $2000 per month. I could have got my original Airbnb room for around $1400 per month, but even that is a lot of money. In addition, the visa cost me a total of around €1300, which was already gone from my savings before New York. I also had to take out international health insurance, which cost me around €68 a month, although I was reimbursed around €200 by the LBV.
In addition, the cost of living in New York is significantly higher: food costs more, eating and drinking out costs more, activities cost more, and so on. And you are always expected to tip at least 18% and tax is always added to the prices, which makes everything even more expensive. Of course, I also wanted to experience New York and did more accordingly. If you add it all up, I spent at least another $1500 per month just on food, activities and so on - if not more. Admittedly, I didn't keep a budget book on this, so I can't say for sure. You can almost certainly get by more cheaply in New York. However, I just wanted to enjoy the three months and take in as much as I could, including Broadway shows, sporting events, travel and expensive cocktails in rooftop bars.
Going out and drinking certainly cost us all a lot of money. Alcohol is very expensive in New York. In Manhattan, cocktail prices average around $18-20 - not including tip and tax, whereas in Brooklyn I got cocktails for “as little as” $14-16. Once a friend and I ordered mulled wine - unfortunately the prices weren't on the menu - and we paid $36 per person (!) with tip and tax. We thought we weren't looking properly when we got the bill. Beer prices also usually start at at least $10 - with the big exception of Rudy's Bar & Grill, where you can get a pint from $3 and a pitcher from $12. Three guesses where we've been! If you don't drink alcohol, you are automatically much cheaper in New York! I noticed this noticeably in December. I reached for tap water (which is always free!) or tea much more often when we were out and about. My wallet was directly less burdened. Nevertheless, the everyday food and experiences still cost me significantly more than in Germany - and not just because I was out and about more than at home.
So if you want to experience New York by attending a Broadway show, going to a basketball game, taking in the city from one of the many rooftops, sampling the culinary delights of the city or discovering one of the speakeasy bars, then you should plan a budget accordingly. If you want to see more of the USA, e.g. travel to Washington, Boston or Miami, then you should plan even more. So it's best to start saving right away!