Living paycheck to paycheck

Nurses General Nursing

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Hey, I’m a single mom with a toddler and work in a nursing home. I’m living paycheck to paycheck. After I pay all my bills, with no assistance I have nothing left over. I work .8 now but I’m confused why I this is happening. Anyone else have this issue?

Specializes in ICU.

Can you take a job in a hospital? I'm assuming your pay would increase. Or find something PRN that would supplement your income?

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Specializes in NICU.

I found U tube examples on how to budget,and manage,to pay off bills and keep some for emergencies,Beat the Bush or Jordan Page Fun cheap or free all explain how to live on minimal income happily.

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OP sorry to hear about your troubles. As a previous poster said, I would consult a financial advisor. Look into your daily spending habits and monthly expenditure and see what you can cut loose. How much do you pay monthly for internet/cable/phone bills? Maybe switching to a cheaper provider or eliminating the cable and go with alternatives like Netflix/Hulu can help. Also, you might have apps on your phone that have recurring payments that may slip past you. Do you cook meals or buy takeout a lot? I would invest in appliances like an Instantpot or Crockpot that allow you to dump ingredients and make easy, healthy meals for busy people like ourselves. Also, consider looking for a different job that pays more like at a hospital or other facility. Good luck!

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Specializes in Critical Care; Cardiac; Professional Development.

Look up Dave Ramsey. His program helped me recover from bankruptcy and home foreclosure after a divorce and two kids sick with cancer - and that was before I became a nurse (and earned far less than $3K/month). I now have a stellar credit score, use credit cards little to not at all, buy my cars with cash and paid my home off 9 years after purchasing it.

I am not saying you will be able to do all those things but I am saying it is likely that somewhere your funds could most likely be managed differently, to your advantage. Best of luck.

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On 3/4/2019 at 4:21 AM, Tron8622 said:

Oh yes nursing pays , but the irs and bills take it back . Nursing will pay the rent and that’s it . I always say you know you picked a good career if all the employees drive sports cars . Sadly nurses and even docs have zero to zilch in savings compared to lawyers other professionals I’m getting out due no real take home income . It all goes to taxes

I don't know why you think lawyers are in such good shape. Many of my Ds peers in law school are coming out with loans in excess of 150K, some with more when you consider undergrad. We paid for our D's education, so she will have no debt, but she is definitely not the norm for a new law school grad.

Also, I know a lot of doctors. They don't all do as well as in the past-insurance reimbursement, debt, and take a toll. But most do far better than nurses, as well they should, considering the amount of school and training they go through. Depending on the specialty, some docs are still knocking it out of the ballpark and making very big bucks.

And finally, not all nurses are living paycheck to paycheck. There are many threads on AN where nurses discuss their very solid salaries, some into the six figures. It depends on location, experience, willingness to take on OT or less desirable shifts, willingness to move if necessary, etc.

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Specializes in Critical Care, Emergency Department, Informatics.

Is it possible that you could move or relocate? Nurses have to be proactive and demand what they are worth. Healthcare is now a business, and nurses need to get onboard. I know change is hard, but you have to do what is best for you.

Good luck

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Specializes in Critical Care; Cardiac; Professional Development.
27 minutes ago, Horseshoe said:

I don't know why you think lawyers are in such good shape. Many of my Ds peers in law school are coming out with loans in excess of 150K, some with more when you consider undergrad. We paid for our D's education, so she will have no debt, but she is definitely not the norm for a new law school grad.

Also, I know a lot of doctors. They don't all do as well as in the past-insurance reimbursement, debt, and malpractice insurance take a toll. But most do far better than nurses, as well they should, considering the amount of school and training they go through. Depending on the specialty, some docs are still knocking it out of the ballpark and making very big bucks.

And finally, not all nurses are living paycheck to paycheck. There are many threads on AN where nurses discuss their very solid salaries, some into the six figures. It depends on location, experience, willingness to take on OT or less desirable shifts, willingness to move if necessary, etc.

I agree with the above. I would add in that it also depends on how much debt you carry - student, secured and unsecured and what you spend your money on. I am not saying the OP is one of these people, but I am always surprised how many people feel they don't make enough money to survive, but they are getting their nails and hair done regularly by professionals, have closets stuffed with stuff, bigger houses than they really need and huge car payments. A lot of whether you are making it depends on what you consider to be a necessity and how you manage what money you do make.

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Specializes in ER.

I was a single mom, with no family nearby and had to pay for every minute of childcare when I was working.

Ask around your friends and see if anyone else lives near to you and has kids the same age. I managed to team up with another mom for a while, who lived in the same street as me. We both worked at the same hospital, and manage to set our schedules so that we worked opposite days, and the mom who was home had both kids. She worked Monday Wednesday Friday and I worked Tuesday Thursday Saturday, all 12 hour shifts. It makes a huge difference when you have free childcare, and your kids enjoy being with others as well.

Also, figure if you can manage without a car. I've never owned one, I've always chosen my jobs based on transit options, so that I can get a bus or train to work, and ride my bike in the good weather. Not having a car payment, gas, insurance, etc makes a big difference. I currently pay $100 a month for transit and thats it, no other travel expenses at all, and my hospital has a scheme where transit is paid pre tax, so I even save on taxes too!

Meal planning can also help to cut costs. Plan a week of meals, then convert the recipes to grocery lists and go buy it all for the week. Make double portions of meals and freeze the second one to use the next week. I make soup in large quantities, (Panera recipes are online and they are great!), and you can freeze it into tupperware pots and just take a couple of pots out the freezer each day.

Living with kids on a budget can be done, but it takes planning and organization. Sign up for netflix instead of paying for the movie theater, and cook your own popcorn!

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Specializes in Critical Care.

Is the 3K monthly take home? I recommend reading about personal finance such as Deal with Your Debt and Your Credit Score by Liz Weston, Personal Finance for Dummies by Eric Tyson, Smart Women Finish Rich by David Bach and also Financial Peace by Dave Ramsey. Read money articles on msn money and yahoo personal finance.

Do you have alot of student loans? Are you paying alot for childcare? You can look into Income based repayment on govt loans. What is your credit score? A bad score will cost you in higher interest rates for car loans and even insurance. Check out gabi.com or zebra.com to find the best insurance rates for home and auto. Check out trim.com to lower phone, cell, internet and cable bills. I also recommend mint.com as a free site to track your personal finance info and keep track of your bills and savings.

Consider a high deductible health plan if you are able and then use the health savings account to save for medical expenses. Try to use $4 generics at Walmart for prescriptions if you have any. Start up your retirement account 403B at least 6% for the company match. If 6% sounds like too much start at 3% and go up. You will find your money will go further as you lower your taxes with these strategies. The HSA and 403b will reduce your taxable income. Do you receive the earned childcare tax credit? Also you should be able to set aside child care expenses tax free during your annual benefit enrollment period as well, which will cut your taxes too!

A useful budget mentioned in the book All Your Worth by Congresswomen Elizabeth Warren suggest 50% needs, 20% savings and debt repayment, and 30% wants.

Also consider finding a new job that pays more if possible or a side hustle. Some people sell crafts or art on etsy. The key is to try to minimize costs and increase income. Some low cost ways to save money include rummage sales, goodwill and other thrift stores, check out ebay, mercari and poshmark for gently used clothes and accessories. Use the dollar stores for basic neends. Be willing to use a food bank if necessary.

Once you have good credit you can actually refi a car loan. You can consolidate student loans to lower your monthly payment, but be aware it usually extends the length of the loan and would restart any student loan forgiveness back to the beginning. So far the ten year student loan forgiveness program has been a bust, over 90% have been denied due to technicalities so I wouldn't count on it.

Best of luck to you.

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Specializes in Tele/Interventional/Non-Invasive Cardiology.

Is there any reason why you’re working only 32 hours a week? Could you do per diem elsewhere? Nursing pays well depending on which state obviously. In CA, I get paid “very well” but with the cost of living, we will never be able to buy a house here.

I was a nurse in Florida, and I saw full time nurses needing roommates or struggling to decide between paying for gas for their cars, rent or food for their child. It was sad. I’m just happy and blessed I can pay my bills. But it’s unfortunate that those that care for others and with ever-growing education and training requirements would have to struggle financially.

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I would not expect a nurse working a .8 position in LTC and supporting another person to have any money left over. No mystery involved.

For many years I worked 6 days a week in home care to pay our bills, and my husband was employed. No kids.

You will accept financial advice when you are ready to receive it.

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I don't know much about family law, but is the father of your child paying child support?

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