Do you overspend on luxury items as a nurse?

[Neywel120]

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?

[Tweety, BSN, RN]

Not to mention that not everyone who goes to college takes out student loans. So not "all" new grads are chipping away at student loans.

I didn't see the word "all" in the post you're quoting. I think that poster was addressing those in student loan debt, or those considering it and that it is a big deal.

I applaud people that can get through school and make choices not to get in too much debt. I also know people that took loans for "living expenses", went to expensive schools, went on Spring breaks in Florida, and then with their higher wages as a nurse spend $500 a month on loans.

But I digress from the original topic.

[Ruby Vee, BSN]

Not to mention that not everyone who goes to college takes out student loans. So not "all" new grads are chipping away at student loans.

It is much more common for the parents (who have worked their way through their own college education and/or finished paying back their own school loans) to pay for the college education of their millenial children these days. So perhaps Mom and Dad are paying back the student loans.

[cards]

Most people can handle a little student loan debt, but please don't imply that a person shouldn't be concerned about it. There are a lot of young people (such as the OP of this thread) who have minimal experience with adult financial issues who might get the mistaken idea that there is no problem with student loan debt.

Hey OP, make sure you don't make life decisions and decide whether to purchase luxury items based on my single post (a person you don't know). Also I hope I didn't imply that student loan debt is no big deal. I would like to rephrase and say for me, it is no big deal, so I could probabyl afford the nicer things but would rather spend on Experiences. To further elaborate why I'm not worried: my only debt is student loan debt, I make enough money, live within my means, overpay my student loan debt so I'll be done in 6 years and still save money on the side, have a hefty savings, etc. But because you are young (as am I), and apparently impressionable from a single post on an internet forum, please don't mistake my comment on how common student loan debt is as an excuse to lavishly spend your time and get yourself into a financial rut.

And i never said all new grads have student loans. I just implied that if you had them, you should be chipping away at that, and it is okay to live a little, but I should add as a disclaimer: *only if you are responsible* because apparently that has to be said for someone trying to obtain a professional career.

[Erythropoiesis]

It is much more common for the parents (who have worked their way through their own college education and/or finished paying back their own school loans) to pay for the college education of their millenial children these days. So perhaps Mom and Dad are paying back the student loans.

I am a millennial and I have taken out no loans nor are my parents paying a dime towards my education, anything involving my education, or any of my living expenses at all for that matter. I just finished up my last two semesters while homeless, maintaining a 3.8 GPA. Don't imply that we're some type of helpless generation of infants. Thanks.

[Horseshoe, BSN, RN]

I didn't see the word "all" in the post you're quoting.

I didn't say that the person I was addressing implied or said that. I was referring to something that was in the post SHE quoted, which was this:

I try to spend my money on experiences and travel rather than designer handbags. But hey, as long as you are not in debt. Unless it is student debt, because we're all chipping away at that!

[Horseshoe, BSN, RN]

I am a millennial and I have taken out no loans nor are my parents paying a dime towards my education, anything involving my education, or any of my living expenses at all for that matter. I just finished up my last two semesters while homeless, maintaining a 3.8 GPA. Don't imply that we're some type of helpless generation of infants. Thanks.

That is an amazing accomplishment. I'm guessing you worked, and also received some financial aid from your college? Kudos for doing so well.

BTW, my DH and I are paying all costs for our children's educations. Not because they are "helpless infants," but because if we did not, they would have to take out student loans. We don't qualify for financial aid, and their merit money was appreciated, but nowhere near enough to cover all expenses. When I was in college, it was possible to work part time, get scholarships, and pretty much cover your expenses. Tuition has advanced to levels such that it's no longer possible to pay for college like many in my generation did, at least if you are attending a residential college.

We pay for our kids' education because we can do so comfortably. Since we have the money and they do not, we see it as our responsibility to do this for them. What else am I going to do with the money, buy jewelry? Another purse? A fancier car? No, I'd rather finance education.

My Ds understand how incredibly blessed they are, and they show their appreciation for this on a regular basis. They are both in grad school, work very hard, and look forward to being productive and financially independent some day. And they are very grateful to know that they won't be buried with debt when they do graduate. They realize this is a tremendous luxury these days.

[Horseshoe, BSN, RN]

And i never said all new grads have student loans. I just implied that if you had them, you should be chipping away at that, and it is okay to live a little, but I should add as a disclaimer: *only if you are responsible* because apparently that has to be said for someone trying to obtain a professional career.

Okay, duly noted. It just kind of seemed like you said "all."

I try to spend my money on experiences and travel rather than designer handbags. But hey, as long as you are not in debt. Unless it is student debt, because we're all chipping away at that!

[Tweety, BSN, RN]

I didn't say that the person I was addressing implied or said that. I was referring to something that was in the post SHE quoted, which was this:

Thanks for the clarification. The person who said "all" wasn't in your post so it wasn't obvious. DOH

[Tweety, BSN, RN]

I am a millennial and I have taken out no loans nor are my parents paying a dime towards my education, anything involving my education, or any of my living expenses at all for that matter. I just finished up my last two semesters while homeless, maintaining a 3.8 GPA. Don't imply that we're some type of helpless generation of infants. Thanks.

Congratulations.

I disagree with RubyVee as well. I don't think most millienials are relying on their parents to pay their loans, other than perhaps moving back home to save expenses and this isn't "most".

Boomers unfortunately became the first generation that for the most part couldn't pay for their kid's education. My father paid all my college expenses because it was cheap back then and we were solid middle class and not rich. When I went back to school for nursing, I went to a community college and was able to pay cash working at Pizza Hut.

As a boomer, if I had millennial aged kids in college, sadly I couldn't afford to pay their expenses, but I would encourage them to get a quality education, perhaps at a community college for basics, work a part-time job and do what they could to keep student loans down. I would help any way I could afford.

In order to go to school, student loans are the reality for most students. From what I see most students are paying them back themselves.

[HIPAAPotamus, BSN, RN]

I, for one, am looking forward to my yacht and pool boy.

[ChristiHamm8, CNA]

I feel that way a little. We don't have much and are going without a lot of the time but we aren't bad off either. Once I get my first job with any starting pay in this area, I will be making more than my husband does so everything will be extra or paying off debt. I have a pinterest board of all the things I want to do with my life. Most of my dream things are within reach and will be below my means so we can still afford to do what we want when we want. I might save and splurge. The money to me is well beyond my expectations. I stress a LOT about money. A LOT. I don't like to spend money so it will be an adjustment.

[Upgrading_Status, BSN, MSN, RN, NP]

The only nurses I know like that are single and childless.