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?

I'm starting nursing school in the Fall and the only thing I'm interested in spending money on when I'm done is travel...which I know is ironic since I won't have the time to travel...

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Specializes in Med-Surg, NICU.
WHAT?!!! Ummm. She chose to have you and I'm sure she doesn't expect you to make reparations. My mom would kill me if I tried to do that. Well, once she stopped laughing at me. :laugh:Maybe offering to pay your share of living expenses would be more appropriate.

I live with my mom and feel that adult kids should be helping out financially if they are living under their parents' roof.

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Luxury cars? A nurse? Seriously?

When I worked in Philly I saw many an LPN driving Mercedes and Jaguars etc... You could also make $30+ dollars an hour base pay easily and OT was plentiful. I was happy with my paid off 10 year old car but to each his own.

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Didn't mention that I was going to give something back to my mom for raising me.

I think this is great. While your mom chose to have you she did NOT have to do a good job raising you. Do something nice for her. It's not like you can pay her back for all of the years she put in. Good for you.

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Specializes in Adult MICU/SICU.

You know what? When I first decided to take nursing prerequists I thought I would be able to afford things like that, but that wasn't the case.

I thought I'd be able to afford a nice house, luxury car - expensive department store make-up … (please understand I was still in my early 20's at the time). I thought all my money problems would be over if I could just graduate and start working as an RN!

Not.

The nurse recruiter for the biggest teaching hospital came out to speak to our class the semester before we graduated. A classmate of mine raised her hand and asked how much we would earn as new grads? Without missing a beat she stated "$35,000/yr" (this was late 1993).

When I graduated in December 1993 the highest pay for a brand new grad RN in Tucson, AZ was $12.75/hr.

Yes, you read that correctly.

That's not even $25,000 anually for full time (three 12 hr shifts/wk).

That was $10,000 less than we were told.

I was stunned. And a bit horrified too.

Plus, because I was nearing 30, my bio-clock was ticking, ticking … I calculated when I could get pregnant and deliver after graduation, so I had a little one on the way too. And because we had no family living near us, and because my husband was a cook earning approximately $8.00/hr (1993!) we decided he would stay home with the baby for 2 years, which would be cheaper than day care, and give me infinite peace of mind.

Not only could I not afford those luxury items, but I had to work over time almost right away - we still didn't have a great income. Plus, we had more bills - including my student loans.

Sigh …

New grad salaries earn quite a bit higher pay now, but unless you are single, without children, and without debt, it is unlikely you will be living it up post graduation.

I hope this isn't a wet blanket response, but I sure would have liked to have known this before I graduated.

Hang on to that frugal tendency my friend - it will serve you well.

Another thing I was clueless about: no matter how young you are - start saving for retirement right away. The more the better. Take advantage of your hospital's 401K, and their matching your contributions.

Something else I didn't know about: once you graduate the credit card offers will literally start pouring in - use caution here. You don't need to accumulate even more debt, although it will be tempting. So very, very tempting.

Not trying to tell you what to do or how to live your life, but this is advice I give my 22 y.o. son, because I learned this the hard way. Heed my warning, or suffer the same grief I experienced.

And also allow me to give you an early welcome to nursing (we sure need you!).

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Specializes in Adult MICU/SICU.
I live with my mom and feel that adult kids should be helping out financially if they are living under their parents' roof.

You are a wonderful adult child!!!

OMG … can I clone you?

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Specializes in PICU, Pediatrics, Trauma.

Over-spending should never be done unless you don't care about your future. Being a nurse has nothing to do with sound money management. I assume you are excited about increasing your salary once you finish your education. Be careful. Be responsible. Take care of yourself and family and do the smart thing.

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I doubt nurses are especially prone to overspending on luxury. Most of us go into this profession with the expectation of middle class wages.

Little luxuries like imported parmesean, department store makeup and some occasional travel are in reach, bigger luxuries like household staff, your own plane and several houses, not so much.

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Specializes in CCU, SICU, CVSICU, Precepting & Teaching.

I bought a brand new car when I graduated from nursing school. After years of driving cars that I paid $25-50 for at the junk yard, I was ready for a car I could depend upon to get me where I was going without drama. I loved that car -- a silver Honda Civic. Come to think of it, I probably SAVED money in missed appointments, cab fare, repairs, tires and replacement $50 cars from the junkyard when one of the ones we were driving (we usually had 3 in rotation) broke beyond my then-husband's ability to repair it.

Unlike many of you, I don't think new cars are a waste of money. When I buy a brand new car, I do the maintenence, take good care of it and am able to drive it for 150,000 miles or so without a lot of problems. That way I don't inherit someone else's issues that have arisen from not taking car of the car, treating it harshly or neglecting the maintenence. I do my research, buy a reliable brand and buy the basic model without all of the fancy extras. I'm also pretty good at bargaining with car salesmen. I bought my 1989 Subaru 4WD wagon on the last day of February when salesmen were looking to meet their quotas during a blizzard when no one else was out looking for a car. I knew exactly what I wanted and bargained for it until they gave it to me at their cost just to get rid of me so they could close up the dealership and go home. Blizzard. Bad roads. I didn't take that car out of 4WD for the first week I owned it because the roads were so bad, but I got to work every day!

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Specializes in Psychiatric Nursing.

I like to treat myself to high-end skin care products and cosmetics. I have also been known to splurge on super-cute clothes for my 3 children. I get my hair colored professionally every 6 weeks. However, I have learned my lesson about buying a new car...I will never buy a brand new car again! My husband and I both drive older, zero-glamour cars. Not having car payments frees up money to be used for fun. Also, we live in Tennessee, where a family can live fairly well on a modest income. I believe that it's OK to enjoy nice things. For me, I want to have nice skin care products and makeup, and if that means driving an older car, I am fine with it.

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A luxury car? No. But my husband works his tail off and can support us just on his income. So my income is supplement is is more than enough for myself, husband and 3 year old. Vacations to the Caribbean? Absolutely. We have to pay to relax since when we are home we don't (husband is self employed). But what we consider splurging is relative to what others call a dumpy vacation. And what we call a little vacation could be a luxury dream trip for others. Again, relative.

But I don't go spending on shoes, purses, dinners out, ect. We live a modest life style and I still want to throw up when my grocery bill is $150

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Specializes in ER, ICU/CCU, Open Heart OR Recovery, Etc.

Nope. Start creating a cushion of savings (6 months to 1 year of salary) so that if the bottom falls out you have something to fall back on. That said, there's nothing wrong with an occasional splurge, as long as you're honest with yourself and can maintain a standard of living without reliance on credit cards, etc. Saving for, and taking, a vacation regularly is also very important as it helps maintain a balanced life that doesn't always have to be nursing oriented.

Money is a tool. It is to be used wisely but not allowed to dominate one's life.

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