Travel Nurse Money-Saving Strategies
You’re out in the world, enjoying life as a travel nurse. You’re earning top pay, and best of all, you’re experiencing new places, and uncovering your adventurous self. It’s a lot of fun! But did you know that this is also a great time for you to save money?
Since you’re moving around the country and trying out new locales, it might feel like you’re on permanent vacation. Nevertheless, it’s possible there will come a time when you need a few days off to go to your sister’s wedding, mend from a cold or flu, or simply want to take some time off to travel without working. You know, a real vacation.
How do you make that happen? Watch what you spend and set aside some savings, of course. There’s no time like the present to practice some practical habits. Here are some ways to kick-start and build your savings, so you have a little cushion for the future and for whatever life throws your way.
Cook At Home & Pack Your Lunch or Dinner
Skip the delivery service or eating at the hospital’s cafeteria and hit the grocery store or your new local farmers market instead. Keep your kitchen stocked with all your favorite, nutritious staples and snacks. When you have foods you like on hand, it’s easier to look forward to coming home to relax, and you know what you’re having for lunch or dinner the next day, too. You’ll save money, and you’ll probably make healthier choices.
Budget For Entertainment
You’re in a new place where there are all kinds of fantastic things you want to do and try. Don’t deprive yourself—do it. But don’t let it get out of hand. Be reasonable about how much you spend. Set a certain amount for each weekend or each type of activity.
Track Your Spending
Are you new to the savings game? Have you been saving for decades? This is always a good practice. Keep receipts. Make a spreadsheet. Tally everything up. Of course there are many apps to help you manage this, too. The most important rule: Be honest with yourself. Remember that you don’t have to change anything at first. Just track and observe your patterns. Gradual changes add up.
Put It Away For A Rainy Day
Sure, it’s obvious. You just have to get in the habit. Set a goal and deposit a percentage of your earnings into a separate account on a regular basis. If this classic way of saving doesn’t always work for you, there are some clever ways to trick yourself into saving. Think weekly challenges and cash rewards.
Invest In Your Future
Maybe you’re already doing a good job of saving and you have enough saved for six months of living expenses. Now it’s time to take your savings plan to the next level and start investing. It can be risky, so do your research and get sound financial advice along the way.
And don’t forget: after working two 13-week assignments with Advantage RN, you are eligible to be part of their company-matching (100% match up to 4% of your gross taxable pay) 401k savings program. Taking advantage of this offering and their other cash rewards programs such as their Referral and Loyalty programs can be viable resources for extra savings, too.
Bottom line? You really can have it all: An adventurous life and a practical savings plan. All you have to do is set your mind to it. Go ahead and give some of these tricks a try, figure out what works best for you and your traveling nurse style, and manage your money like a pro. Once you get yourself into a good rhythm, you’ll be enjoying the traveling RN lifestyle and watching your nest egg grow, thanks to your assignments with Advantage RN.