Do you overspend on luxury items as a nurse?

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When you went into the nursing profession and received your first salaried job, did it make you want to spend more and buy luxury cars, electronics ,etc?

I ask this because I'm pretty frugal, but when I see a car or new gadget that I really really like the first thing that comes to my mind is "I'm going to get that when I become a nurse". Did any of you nurses felt like that with your salary where you just have to buy, buy, and buy because you can afford it but you don't need it?

Specializes in Going to Peds!.

Definitely start saving for retirement.

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Don't do it... When i first became an RN, I bought a BMW worst mistake ever. After 8 yrs as nurse i try to leave below my means and try to save every dollar.

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Specializes in Med-Surg.
Not the popular opinion but I have already set aside my first real nursing pay check for a stand up paddle board. Is it necessary.... No, is it stupid.... Probably. But after four years of studying during my degree and working full time and taking care of my kids, I would like to celebrate a little with something just for me!!!! After that I will return to the real world of mortgages, bills and student loans. But the first one is all mine!

You deserve it!

The first thing I bought myself was a nice stereo with a CD player (in 1991 I was still playing cassette tapes and vinyl albums LOL).

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And why not?? As long as you have that 'luxury' non-nursing, white-collar spouse...:yes: But then if that's the case, why even bother with nursing at all?:down:

I am married to someone who has a very big income, and he is very generous. I could buy anything I want, and he would be fine with it. But I still work (granted, PRN) and plan to die with an active license. Why? Because I like to contribute to the world in some small measure, make a little of my own money, and model a decent work ethic for my Ds.

Did any of you nurses felt like that with your salary where you just have to buy, buy, and buy because you can afford it but you don't need it?

No, I really don't do that. We have a beautiful home, and when we travel, we do travel well. We drive luxury cars (my DH bought me, but I really am not all that into it) and have all of the necessities. But I don't buy "stuff." My wardrobe is a disgrace, I wouldn't know a designer purse if I saw it (other than the "brown one" everyone seems to want), my shoe collection is rather sparce, and I don't like my DH to buy me jewelry because I always seem to lose it. Things can really junk up your life, and maintaining them/caring for them can really eat away at your time and peace of mind.

We have a second home that we are trying to sell. Not so much because of the monetary expense, but because it has really become a major drain on DH's time and energy.

No, I don't think about the next thing or gadget on the market. It's just STUFF, and I'm too lazy to have to deal with garage sales, etc. when it's time to chunk it. Worse than that is when you let things pile up on you. I don't want to be the next featured guest on the Hoarder show.

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I bought my girlfriend red bottoms earlier this month. Looking over previous posts, please don't look into my garage. Most of you will be depressed.

Doubt it.

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I agree with many of the above posts that "luxury" means different things to different people.

I'm 2 years in to my nursing career and I still get a little thrill every 2 weeks when it's time for my paycheck to auto-deposit. It is more money than I've made before in my previous career. Also, there was a 4 year time period where I was working part time pieced together low paying jobs leading up to and then during nursing school where I really felt financially scared and vulnerable, so to finally have a feeling of some security, and see my net worth rising over time is such an immense relief.

I put my first paycheck each month into a generous contribution to retirement, various savings accounts (have about 3 months of emergency fund so far, working toward 6, and saving up for a potential surgery in the next year), and paying monthly expenses (which I do use credit cards for, but don't carry a balance ever), the second is banked for the next month's rent, and then there is usually some extra left over. I drive a 12 year old car that is in good condition and debt free. I'm hoping to buy a house soon. I'm almost done with my BSN, which I did relatively cheaply through an online program -- and did take out more student loans for, but have been paying them off as I go. It's just me and my spoiled cats so I can probably make the nurse's pay go farther, although I would love to have children soon if I find the right partner. I don't work a lot of bonus shifts -- it is good money, but I've been trying to focus on school and getting that done in an efficient manner, and I don't want to hurt myself or burn out. I still live with a housemate, and plan to for the foreseeable future.

All that said, I have splurged some now that I feel like I have some financial security again. And here's what splurging means to me. I bought a few different pairs of high quality shoes for work -- these cost $80-120 instead of the usual $30-40 I pay for tennies. I bought a few sets of scrubs in colors that brighten my mood when I'm getting ready to go in and have the right fabric to feel comfortable and move well --- even though I already had some that I could wear but just weren't that comfortable. I bought a few new pieces of furniture for my living space that made it feel more adult -- a night stand instead of a milk crate, a soft stuffed couch to replace my crappy college futon, a wooden bathroom cabinet to replace the plastic stack of drawers that used to hold my goodies. I recently bought a couple of fancy drinking fountains for my cats (one $50, one $80) that would have been unthinkable before. Oh, and I've wanted to go on a hot air balloon ride since I was a little girl, and a nursing school classmate and I planned that we would do that together after graduation to celebrate -- we are just now getting around to it next month, at $220 each for a few hours of frivolous but once in a life time fun. I also went to Disneyland for a 2 day trip with a couple of nurse friends in January (about $400) -- I hadn't been since I was 5 years old and we had a blast. It was my first out of town vacation in 5 years.

I was raised in a home where money was very, very tightly guarded to the point that we were sacrificing nutrition, health and safety. It feels really good to be able to treat myself to better now. But I won't ever overdo it. The financial security feels to good, and I never lose the feeling that it could be taken away at any moment, and I'd better protect myself with a cushion.

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I had to look up what "red bottoms" meant to understand this!

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Specializes in Med-Surg.
I had to look up what "red bottoms" meant to understand this!

LOL...glad I wasn't the only one.

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^^THIS^^

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I have and do splurge a little but only within what I can afford. I'm also single. Mostly I use my moonlighting money for extras.

Be smart! A former friend of mine went wild her first year out of school with the hot car, clothes and travel. She also went in the hole for 50K and the resident she was dating traded her in for another doc. She declared bankruptcy at twenty four.

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Specializes in Med-Surg, NICU.

And I know it isn't glamorous, but people need to start thinking more about retirement. Defined benefit pensions are becoming a thing in the past and social security isn't very stable (and the average amount given is small). Americans have a horrible savings rate compared to other countries.

People praise Dave Ramsey, and while I do like him (and think he has good advice for getting out of debt), I think he is very basic. Look into Mr. Money Mustache for investing and retirement savings advice. He and his wife retired by their early thirties and haven't held FT jobs in years.

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I had to look up what "red bottoms" meant to understand this!

I did too! I thought he got his gf a pair of red panties. :D

And when I saw a photo of them, I recognized them-because my D blew all her birthday money last year from all the grandparents and us on a pair. Otherwise, I wouldn't have recognized a pair even if I was stomped on the foot with one.

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