Do you overspend on luxury items as a nurse?

Nurses General Nursing

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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?

Overspend, not a chance, and luxury items I think are different things to different people. If I want something and it's reasonably priced I will buy it, I have enough money to not go without something I really truly want. but I also don't really truly want extravagant things so I guess I'm good there!

If something I want is overpriced then I really don't want it all that much, I wait for sales or use promotional coupons all the time for things that I do want to have. never saw the point in spending gobs of money on something that could cost a lot less with some planning!

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Specializes in Inpatient Surgery.

I buy whatever I want. Then I go home and swim in a pool of money like Scrooge McDuck. Oh no, I am lying, I am a nurse. We ain't that rich!

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Specializes in Ortho, CMSRN.

Though I certainly don't make enough as a nurse, my husband has a good paying job if I WANTED to overspend... But I think it's a personality thing. I just don't like to spend too much money when a reasonably priced alternative of similar quality is available. Heck, you earn it though, it's your money. If you want a luxury item, go for it!

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Specializes in Care Coordination, Care Management.

Yes, I overspend on such luxury items as food, mortgage, utilities...

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Specializes in Registered Nurse.

I found (for me, at least), the more you make- the more you spend. But I had debt for working per diem/prn only during school...taking weeks off for studying for exams,....which was nice....but the bills mounted. I was already in debt when I became a RN.

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I'm in a position that I'm going to school because I want to, not because I have to work. We live comfortably on my husbands salary, luckily. My income is going into our retirement with a bit pulled out for family travel here and there.

I'm not really a luxury type of person though. I'm definitely going to treat myself and my family to something special when I get my first paycheck though!

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Specializes in Ambulatory Care-Family Medicine.

I make enough to cover my mortgage and bills. My husband makes decent money too so we are able to buy the expensive big ticket items every now and then but we both drive "normal" cars (Hyundai sonata and Ford F-150). We shop around for the best deals on things. We just bought a new dishwasher and we were able to pay cash for it. However, we don't have kids yet so we live a little more freely. When we have kids our budget will be tighter. We wouldn't be able to survive on just my income though, it takes both of our incomes to be able to buy the few nice things and not go into a ton of debt.

My best advice is to live frugally, avoid loans as much as possible (student and car loans), and save as much as you can.

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Specializes in Nursing Professional Development.

To the OP:

It's great that you are thinking about things now and asking these questions. As you can see from the responses, most of the experienced nurses urge you to live a relatively frugal lifestyle so that you can build your savings for "hard times," grad school, and/or retirement.

I am 61 years old and in the process of planning the financial details of my retirement. Fortunately, I have saved enough money to provide a comfortable retirement for myself. Here is what I recommend:

1. Pay yourself first. This is a rule my father taught me. Before you start buying "fun stuff" for yourself, make sure that you have paid all your bills AND set aside some money in savings. Do some homework to figure out a good amount to save each month and put that aside each month before you even think about spending it. (Having it deducted automatically from your paycheck will help with that.)

2. Then plan/live your life with the amount of money you have left AFTER you have paid yourself first.

3. Consider your retirement savings "untouchable" -- even in hard times. If you have to work more hours to pay your bills, etc. then work the extra hours: If you need to move to a cheaper place, move. Don't rob yourself to pay your current bills unless your life literally depends on it.

3. When you get a raise, make sure some of it is allocated into your monthly savings. Not all of it, necessarily, but at least a little of it. That will assure that your savings rate will remain appropriate as your income increases.

4. It's OK to set aside a little each month for "fun stuff," luxuries, and the like. Most of us need a little pleasure in our lives. Just don't spend that money until you have saved it up. Don't put it on a credit card with plans to pay for it later. Save up the money before you buy it.

5. Learn to appreciate little, sensible luxuries that don't cost an arm and leg. Treat yourself regularly with little things (bubble bath? a walk in the park? your favorite music? etc.) so that you don't feel deprived enough to be tempted by the big, expensive luxuries.

Good luck!

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I did not, but the ex, who was also a nurse, would justify buying anything he wanted with the rationale.. "that costs $1000.. that would be 20 hours of work".

Did I mention he was my EX?

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Specializes in Med-Surg, Trauma, Ortho, Neuro, Cardiac.

I save 15% for retirement right off the top.

After I paid for my car I put $400 a month in a travel fund. I have a Honda and hope to drive it for many more years.

I've been to Peru, Germany, Vietnam/Thailand/Cambodia, and hope to go to Costa Rica next.

Travel is my luxury, but my house is could use some work and I live on a budget. I did just spend $100 on an air fryer for my kitchen.

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Specializes in allergy and asthma, urgent care.

I try to live frugally. I save as much as I can for retirement, but do put money aside for travel. This year I'm re-doing my kitchen, so that's my big luxury item. I don't need fancy clothes and jewelry or a big house.

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I started working as an RN 4 years ago. I bought my first brand new car, a Hyundai Sonata, 2 years ago. I had wanted one for a long time. I pay bills, feed my family, and make sure my college student has everything she needs. I have a retirement fund going. My one "luxury" is travel, but I don't consider travel a luxury. For me it's a necessity. People think I'm crazy, but I generally take 2 trips a year, whether I can afford it or not.

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