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You can turn off buildings to save operating costs if your experiencing an economic crash but its fiddly and time consuming.
The main money sinks that cost a lot to maintain are Turrets/ships and buildings from a higher tier than the islands general development level (e.g. advanced factories). Fires are manageable by building fire station coverage and then when a fire breaks out click on the ones in range and select the option to mobilise extra firefighters. Also you dont need to replicate every supply chain on every island, use ships to move the goods around from production centres to islands with a large population and offer another chance to sell the excess to passing traders while small resource islands should be developed simply to produce a resource and not to worry about levelling up/satisfying their population, just build the bare minimum of workers.
As there is 4 years of expansions which add new supply chains, mechanics and Biomes from the start its overwhelming for a new player, e.g. you dont need to worry about museums/zoo/tourists, steel ships or air vehicles for a long, long time but the construction options are sitting there teasing you. The docklands buildings though are useful mid game when you have steel as you can trade in bulk resources you have an excess of for luxuries you dont produce which provides a nice temporary tax boost, though keep an eye on it as it will happily trade away all your resources leaving you with a shortage in something you were previously flush with.
There's also an element that's never explained, and that's the royal tax. Basically, the more people you have, the more tax you pay. However, the first 1000 people of every population level on every island are tax-free, so there's an incentive (at least early on) to increase and improve your population on every island to a certain degree. Wouldn't recommend going beyond population level 3 for this, though, since from then on, it's more profitable to concentrate on a regional capital island that will get all the goodies for maximum population. Population level 4 onwards you also unlock the commuter pier, which lets you share workers between islands with a pier.
If you have access to Cape Trelawney, then Crown Falls will become your capital island by default (since it's so large anything else would be a waste), and the old world will take a backseat.
you have too much potato soup?
SELL
you have too much steel bars?
SELL
pig soap?
HECK sell everything to the prison guy
Build a soap industry and produce boatloads of it. Then sell it to the prison using a trade route. On normal difficulty they buy it for a ridiculous price (300+ per ton). Feels a bit like an exploit...
This doesn't help you learning how to play the game. But you can figure that out while money is poring in from the soap business.
Larger you City's become the more Royal Tax you have to Pay which can send you into negative fast so build across multiple islands with cargo ships picking up resources from each island sending it to the main (Though thats more for endgame).
https://youtube.com/playlist?list=PL62qv03TjhLsdVEzH_INbioOPm8BN54JJ
Yes, they are great.