Comfortable living?

Nurses General Nursing

Published

Hey there! Okay, so hear me out. Or well, read.. lol. I know there are a few threads about "comfortable living" but I kinda wanted to get some answers to my own questions.

I define comfortable living as NOT having to live paycheck by paycheck.

Say I am single. No kids. I live in an apartment $700 monthly, pay a car note of $500 monthly, $70 for cellphone, $140 for insurance, let's add miscellaneous $1,590 to make the bills an even $3,000 monthly. Will I be able to live comfortable? $3,000 in bills monthly, will an RN's salary be sufficient? Please don't be mean or sarcastic, I'm really looking for some personal experience. Answers from those whom have gone down a similar path as I plan to pursue. Thanks so much in advance for taking your time to read this post and/or even replying!

To be completely honest, it was just an example. The numbers aren't exact. I just thought it would be easier if I gave yall numbers to work with. Thanks for the feedback.

Up Vote Up Vote ×
Specializes in SICU, trauma, neuro.
Peoples' paths to poverty are paved with excessive car payments. Remember that!

This is sage advice.

I work in a large Midwestern central metro area hospital, and I make roughly $45K working 20 hrs/week. I also have been an RN over 12 yrs and live in a relatively HCOL area. Like there have said, this varies quite a bit by geo location. The job market is a huge factor as well. In areas that have a nursing glut and hundreds of new grads lined up for jobs, employers can get away with paying less. "You don't like working for $20, that's fine. There are plenty who are breaking down my door, dying to take your place," that kind of thing.

To be fair to your HS, this is (as we say in healthcare) "outside their scope." They have enough on their plate with preparing kids academically for college/tech school. Don't even get me started on state testing. ;) Plus in a setting as diverse as public schools, there are just so many variables. It would be very difficult to tailor a program for an entire school.

I highly recommend searching this info out for yourself. You are very young, and learning about budgeting now can mean the difference between comfort and bankrupt later in life.

Talk to your parents or other family members if they live comfortably -- find out how they do it. Churches, esp. larger ones, lots of times offer financial planning classes. You could also try your local community ed. The one from my kids' school district offers finance classes as part of their adult education, priced at $10-20 for 1-2 hour sessions.

Up Vote Up Vote ×
Specializes in Registered Nurse.
To be completely honest, it was just an example. The numbers aren't exact. I just thought it would be easier if I gave yall numbers to work with. Thanks for the feedback.

OH! LOL Well, I would say a nurse makes enough money to live somewhat comfortably but not extravagantly. So, you will probably need to budget as others have said!

Up Vote Up Vote ×
Specializes in General Internal Medicine, ICU.

Well it's a bit hard to tell if you don't have exact numbers. Find out what nurses make in your area, what your monthly expenditures are (exact numbers or close to it) and then do some number crunching and come up with a budget.

Generally speaking, nurses aren't living paycheck to paycheck and can live quite comfortably on what they make

Up Vote Up Vote ×
Specializes in Family Nurse Practitioner.

As a nurse I always lived comfortably but like others mentioned I live fairly simply and always below my means. As a young-in it is difficult especially if you come from a family where you are used to living up to a certain standard that probably took your parents 20 years to amass. I love that you are thinking about this now rather than when you are in debt up to your eyebrows and have nothing to show for it but a cool car, fancy watch and long gone restaurant meals. Good luck!!

Up Vote Up Vote ×

Thanks! My parents tell me stories about how hard they've worked to give my sisters and I the life we have. I understand how valuable money is and how important it is to survive in this world. I'm not asking this in hopes to live luxurious. Also, a lot of people are commenting on the car part of the thread. The car note isn't $500, I just pay that (because that's how much I can afford to pay it monthly) so that I can pay it off quicker. Sorry for the confusion. &I thanks for the replies again. I pretty much understand now.

Up Vote Up Vote ×
Specializes in Critical Care, Education.

Wow - people are really fixating on that car, right?

Be sure to take advantage of your employer's matched savings plan &/or 401K (403B for non profits) because if you start young, it makes a huge difference. Just do it from the get-go, and you'll never even notice the difference in your take home pay. Those are pre-tax dollars which will also reduce Uncle Sam's bite out of your paycheck. That (tax deductions) - is usually the biggest shock to newly employed nurses. Many employers also have discounts with major vendors (cell phone providers, Costco, Sams, MicroSoft, etc.) that you can use. In some communities, there are apartment complexes that offer special deals to health care providers and other public servant types (police, fire fighters, teachers, etc) - ask around and you may find one in your area.

Bottom line - Yes, you can support yourself just fine on your nursing salary. The beauty of nursing is that you can usually pick up some extra cash when you need it... by working an additional shift or overtime if you need to.

Wishing you the best possible start to your career.

Up Vote Up Vote ×
Specializes in CCU, SICU, CVSICU, Precepting & Teaching.
Wow - people are really fixating on that car, right?

Be sure to take advantage of your employer's matched savings plan &/or 401K (403B for non profits) because if you start young, it makes a huge difference. Just do it from the get-go, and you'll never even notice the difference in your take home pay. Those are pre-tax dollars which will also reduce Uncle Sam's bite out of your paycheck. That (tax deductions) - is usually the biggest shock to newly employed nurses. Many employers also have discounts with major vendors (cell phone providers, Costco, Sams, MicroSoft, etc.) that you can use. In some communities, there are apartment complexes that offer special deals to health care providers and other public servant types (police, fire fighters, teachers, etc) - ask around and you may find one in your area.

Bottom line - Yes, you can support yourself just fine on your nursing salary. The beauty of nursing is that you can usually pick up some extra cash when you need it... by working an additional shift or overtime if you need to.

Wishing you the best possible start to your career.

I suspect people are fixating on the car because it seems so extravagent.

Please don't depend upon future overtime to meet your basic needs -- if it dries up, you're out of luck. Overtime is great for extras or for paying down that car note faster, but if your mortgage payment depends upon overtime, you're bound to get into trouble!

Up Vote Up Vote ×

I would be living paycheck to paycheck if I spent $3000 per month

Up Vote Up Vote ×
Specializes in L&D, Women's Health.

I work in FL....low pay and high everything else! I started nursing when I was a single parent of a 2YO and 4YO and survived nicely on the salary. That excludes a whopping $25/month child support that was never paid, and I never remarried. I had no babysitters and had to use childcare/after-school care for years. I managed to buy my dream home (not a McMansion by any means but it does have 4 bedrooms, 3 baths, and pool), put kids through college, pay my loans, pay orthodontists, etc, invest some monies so I'll have comfortable retirement, paid $325 electric bill 10 months/yr, kids' first cars, and all other necessities. We always went some place special for our 2-wk vacation and to beach every weekend. I also budget extremely well. I've never felt financially pressured. Nursing has been an excellent career choice for me. Good luck to you in your future. It's exciting!

Up Vote Up Vote ×
I suspect people are fixating on the car because it seems so extravagent.

Please don't depend upon future overtime to meet your basic needs -- if it dries up, you're out of luck. Overtime is great for extras or for paying down that car note faster, but if your mortgage payment depends upon overtime, you're bound to get into trouble!

I agree, I consider the car to be a vey big luxury. I see many people driving Mercedes and bmws, while earning $9 - $10 hourly wages. With those wages, they can barely afford to make keep up with maintenance of the car and filling up the tank. If you have not started nursing school, I would advise you pay off the car before you start nursing school, as you may not be able to work the hours needed to keep up with the car payment.

Up Vote Up Vote ×
Specializes in HH, Peds, Rehab, Clinical.

Sweet ride for an 18 year old =) Seriously, if you're making that sort of payment already, keep doing what you're doing and forget nursing school!

I have a 2015 Camry hybrid XLE.
Up Vote Up Vote ×
+ Add a Comment