Do you overspend on luxury items as a nurse?

Published

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 CAPA RN, ED RN.

I bought a new car out of school but that's about it. It just felt really good to not send my money to the university any more. I had worked hard and ended up with almost no student debt. Today it is nice to have a couple of things that I really enjoy but buying a whole lot of things that I need to take care of doesn't really appeal to me.

There have been times that I was grateful to have a good enough job just to support my family. I was working to pay off the leftover debt of my ex who went bankrupt when I wouldn't file bankruptcy with him. I started with small financial goals and worked my way from there.

Now we have a good home, a couple of newer cars, I wear what I want and we take at least a couple of nice vacations every year. We didn't start out with this all at once, it has been slow and steady. It has been the result of spending less rather than more. We have kept our spending way below what we earn, planned ahead, invested and saved. We have funded our retirement accounts and followed good financial advice.

Mostly I like having the freedom of not worrying about debt and not having to wait for the next paycheck to come just to cover the credit card bills. A house full of expensive trinkets can't compare with that.

Up Vote Up Vote ×

They are depreciating assets and over time do not provide you with stability or investment income so no. At 19 however I was not thinking about that, I wish I had been better about savings. Basically lived paycheck to paycheck. Create a budget (also if you are living with your parents, contribute $$$ to either their rent or utilities each month) and if you are working full time, you can have a "fun" money budget each month. Maybe $30 or something a month for whatever you want - save it a few months and get the purse you are wanting.

Up Vote Up Vote ×
I think everybody has to take into account the OP is only 18. That's a world of difference than most of us. .

From here wording (using Gadget) I am gonna assume she about to get her BSN very soon, and start nursing, and maybe she didn't grow up in USA

It customary to blow her first paycheck, and then live for the moment until she finally understands the value of money and work

Up Vote Up Vote ×

Anything over $30K/year is more than necessary. My plan is to pay off all debts (Student Loans and my car and credit card) as fast as possible since I'm used to living off pretty much nothing. Then I'll see about putting money in savings though I don't know what exactly I'd be saving for that I don't already have. Maybe I'll give away the excess to charity or something.

Up Vote Up Vote ×
Specializes in OR, Nursing Professional Development.
Anything over $30K/year is more than necessary.

Provided the cost of living is low in the area where you live. $30K there is not going to be anywhere near enough in places like LA or NYC.

From February 2015:

According to a Bloomberg report, the average monthly rent in February for a studio apartment in Manhattan is $2,351.

That leaves $1,788 for an entire year's worth of expenses beyond housing. $30K is nowhere near enough to survive everywhere.

Up Vote Up Vote ×

I'm living off of $9K a year now. It's tight but even an increase back to $15K like last year would cover expenses...that's why I said I'm not sure what I'd do with the other $15K or more per year. I guess I could go on a vacation each year or something but I've traveled quite a bit already and I'm not really interested in owning a house...I doubt I'll ever marry or have kids (unless I go to the sperm bank and pick the baby daddy out of a book) otherwise I've given up on dating a long time ago...so nothing urgent to use the money on.

Up Vote Up Vote ×
Provided the cost of living is low in the area where you live. $30K there is not going to be anywhere near enough in places like LA or NYC.

From February 2015:

That leaves $1,788 for an entire year's worth of expenses beyond housing. $30K is nowhere near enough to survive everywhere.

I'am in Dallas $30K will get you a trailer, and houses are cheap here or used to be. I spend at least 50K per year on mortage/property tax, she must be living like a hermit

Up Vote Up Vote ×
Anything over $30K/year is more than necessary. My plan is to pay off all debts (Student Loans and my car and credit card) as fast as possible since I'm used to living off pretty much nothing. Then I'll see about putting money in savings though I don't know what exactly I'd be saving for that I don't already have. Maybe I'll give away the excess to charity or something.

Charity? Only way I would give to charity if she looked like a playboy model......

Up Vote Up Vote ×

My motto is "treat yo' self". I don't live extravagantly, but I pay my bills and set aside money for savings. I still make more than what I need to live, so I don't get too concerned about spending money on nice things. I'm not obsessed with technology, so I don't run out and upgrade my phone, for example, every time a new one is available. But I love high heels and there is a difference between expensive shoes and cheap ones, so I spend money there. And I like to travel . . . it's usually budget travel, but I splash out on nice dinners and a couple of 5 star nights at the end before coming home.

It's about what's important to you.

Up Vote Up Vote ×
Specializes in Work Comp CM 3 yrs & Cardiac PCU 27 yrs.
Nope! I live way below my means. I do love to shop, but I'm not extravagant by anyone's definition.

Agree! More you make the more you spend... (or potential)

I think we all agree, "the more I spend the more I must work"

Up Vote Up Vote ×
Specializes in Work Comp CM 3 yrs & Cardiac PCU 27 yrs.
My motto is "treat yo' self". I don't live extravagantly, but I pay my bills and set aside money for savings. I still make more than what I need to live, so I don't get too concerned about spending money on nice things. I'm not obsessed with technology, so I don't run out and upgrade my phone, for example, every time a new one is available. But I love high heels and there is a difference between expensive shoes and cheap ones, so I spend money there. And I like to travel . . . it's usually budget travel, but I splash out on nice dinners and a couple of 5 star nights at the end before coming home.

It's about what's important to you.

Nice! Nothing wrong with that. :)

Up Vote Up Vote ×
Specializes in Work Comp CM 3 yrs & Cardiac PCU 27 yrs.
i love this!!! I'm working 6 straight 12 hr shifts then 8 off. I don't have good shoes. I'm about to buy some Danskos Pro XP's about $150. That is a splurge for me lol!

Errrr... 6 straight 12's... not me, Burn out! Good for you though, 4 in a row is pushing it for me.... sometimes 3 is too many. :(

Up Vote Up Vote ×
+ Join the Discussion