Living poor to living middle class! - page 2

:balloons: :balloons: I graduate in May, and I am so ready to begin making a decent living for a change. True enough I did not go into nursing just for the money, but it sure does help make my life a... Read More

  1. by   rn2bn07
    Wow! you couldn't have said that any better. Thanks for the great advice. This is exactly what my plans are my first year of nursing and so on. I don't believe all of my worries will be over, but I do believe that if I am smart about my money I won't have to worry so much.
  2. by   incublissRN
    I just graduated last May and I recently bought The Money Book for the Young, Fabulous, and Broke by Suze Orman (I love watching her show :spin. I have learned soooo much! I finally figured out what funds I should be investing in my 403b, what my financial goals should be, etc. I keep track of my income and ALL my expenses so I know where my money is going. I suggest picking up some kind of easy to read financial book so you know what to do with the money once you have it. Start out on the right path!
  3. by   lillady1225
    I felt exactly how you are feeling now, but boy was I wrong. Yes I do make a decent salary but when I factor in all my expenses I was living better (for lack of a better word) before I graduated than I am now. I don't know your situation but I am a single mother of a 2 year old girl. When I was in school I recieved food stamps and the state paid for most of my daughter's daycare bill. By the way I was in school full time and worked part time. Now that I am employed as a nurse and my income has gone up I recieve no help from the state at all. I make 17.35 an hour which equals about 2200 a month after taxes. After Credit card bills, rent, utilities, a car payment which is only $250, and a !!!!$750 daycare bill!!!!! I barely have any money left at the end of the month and I don't spend my money loosely and I never buy extravagant things. I know I am in a better position than many people out there and I know public assistance is for those truely poor families, as it should be. But with quality childcare being as expensive as it is, a lot of people, including myself, are having to make the choice between going back on public aid or struggling to make ends meet while working full time. Sometimes, when you're middle class you make too much to qualify for help but not enough to live comfortabley. I worked so hard to graduate from college, get my BSN and make a better life for my daughter but I really fell like as I made one step foward somebody pulled me back two.
    Sorry for the long post but I really needed to let that out.
  4. by   jbendi2
    Yeah I just graduated last year as well. And I can relate what you're going through....from being broke while in college to having lots of cash every payday. From my own experience is SPEND YOUR MONEY WISELY!!!

    Its definitely nice to know you can splurge on buying cute outfits every week because you damn know you can afford it... but those bills do add up at the end of the month and you're left spending more than you make .

    I started this thing where I only spend $100 dollars a month on clothes and $100 a month on take outs/misc...and so far its been working and I am definitely saving my MULA(s)!!! Bringing homemade lunch and snacks also cut down a lot of my daily expenses.

    hope this helps!!! good luck to you!!!
  5. by   jbendi2
    [quote=jbendi2;2155833]Yeah I just graduated last year as well. And I can relate what you're going through....from being broke while in college to having lots of cash every payday. From my own experience is SPEND YOUR MONEY WISELY!!!

    Its definitely nice to know you can splurge on buying cute outfits every week because you damn know you can afford it... but those bills do add up at the end of the month and you're left spending more than you make .

    I started this thing where I only spend $100 dollars a month on clothes and $100 a month on take outs/misc...and so far its been working and I am definitely saving my MULA(s)!!! Bringing homemade lunch and snacks also cut down a lot of my daily expenses.

    hope this helps!!! good luck to you!!!
  6. by   DarciaMoonz
    I have friends who graduated for the PNEP last year and already have brought expensive things. I have learned the meaning of priority the hard way, and struggled last year, and continue to struggle. I will be starting my first job as a PN this month. After last year, I have learned that what I need takes priority over what I want. Not only that I am responsible for my son, and want him to grow up to be financially wise not wasteful. My family and a few friends have humbly suggested I get a new vehicle, and I said and still say no. My 93 ford explorer is still running just fine. When it no longer takes me from point "A-B" then, I will get a new one. I don't want to be responsible right now for a car note and increased insurance, in addition to trying to keep a roof over our head, and food on the table. Many people have went out and indulged in expensive things after their pay has increased. As for me, I just want to be able to pay my rent, buy grocery, try not to curse too much when I have to go put gas in the tank, and pay my utilities. I have been called cheap because some people have it in their minds that I am going to become some instant millionaire over night, but I see what happens when people go over board. I am trying to think about the "what ifs". I am not a worry wart but stuff happens and I want to be prepared just in case. My son is getting older and I have to also think about him. I dream of one day being a home owner, but I can tell you this much, It's not going to happen any time soon. The only expensive thing I want, if you can call it that, is a poodle dog. That's it. On a lighter note, Congrats to you grads for the month of May
  7. by   Mommy TeleRN
    I wish we could have a forum just on finances..wouldn't that be great? We are going to be making almost triple and it still doesn't seem like enough lol. I guess I want to be debt free NOW and since I have about 30k to pay off it's going to take a while, esp if I want to quit eating ramen noodles and buy my kids clothes that fit lol. I'm such a frugal person normally and I want to stay frugal, but I want to enjoy myself a bit too (having a family night out 1-2x a month, buying the family some new clothes, socks, undies, etc lol) I also REALLY want to take a vacation because we've never been on a "real" vacation. I know I need to pay off my debt ASAP (definitely have no plans of taking on NEW debt) but I am trying to figure out how to balance that with saving and spending.
  8. by   FinNurse
    Quote from rn2bn07
    I graduate in May, and I am so ready to begin making a decent living for a change. True enough I did not go into nursing just for the money, but it sure does help make my life a little better. I am tired of struggling wondering how I am going to pay a bill and feed my family. In another month all my worries will be over. I read a lot threads stating that they want to quit in their first year. I guess, my question is, is it really that bad that you would want to give up your dream career because of the stress that you will probably experience from any other job?
    I started to wonder how good salary you have there??
    In Finland we get about 20 000e/year?
    Try to get some joy out of that....lol
  9. by   rn2bn07
    Well here in Michigan, you can make up to 50,000 a year +, I have only made up to 30,000 a year from my previous job and was living paycheck to paycheck...imagine that...now 20,000 more won't hurt a thang...haha
  10. by   linzz
    I so wish that I could go to the U.S. Here in Canada, in many areas, getting full time, even as an RN can take 2- 3 years or longer. Many RN's here work two jobs. This isn't true everywhere but it is true more than it should be. We have a new grad program that gives new grads full time for 3 months but after that you go back to part time as most of our hospitals are unionized. Hopefully this will change as the shortage gets worse.
  11. by   vizsla
    It's hard being a single mom but the REAL expensive daycare (all day every day for a 2 year old) is only for a short time. She'll be starting kindergarten, then be in school most of the day - you'll have more experience and make more money, so paying for the after school care won't be as much of a hit. All in all, you're making an investment in your future by becoming an experienced nurse now.
  12. by   chuck1234
    I thought about quitting it....it was too much....
    Look....today I am still a nurse and I like what I am doing....
    You have to try another hospital/setting if the current one almost makes you cry.....until you see the one that you have been looking for....
  13. by   Galore
    First of all, congrats on your upcoming graduation! I don't want to sound negative but I've seen far too many people fall into a very easy trap. Higher income so very often eases into higher standard of living. My exboyfriend and I both put ourselves through college, lived frugally and modestly. Three years out of college he's making 6 figures and drives a Porsche but his net worth is still NEGATIVE! Even those his means are ridiculously high, he is still living above them.

    My advice is set a budget and do your best to stick do it. Don't live like a miser - everyone deserves to splurge every now and then and if you're too strict you're more likely to blow your budget. In setting your budget, pay yourself first. I highly suggest taking advantage of a 403b plan if your employer offers it, especially if they match. That means free money and it's automatically deducted from your paycheck so you won't miss it! A yearly contribution to an IRA is also great. If you have lots of high interest debt like credit cards, set up an agressive plan to pay those off. Student loans are tax deductible and you may be able to make more in a retirement account than you pay in interest, so I wouldn't worry too much about that type of debt. Next, start building a regular savings account. Your goal is to have enough to cover 6 months of living expenses in case of emergency. THEN figure out your fixed monthly expenses, and adjust your living standards based off of whatever is left over. Of course, this is an ideal and I struggle to always stick with this, but I hope that helps give you some ideas!

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