I have accepted a position at a hospital that will have me earning at least $30 an hour. That is ALOT of money for me. Considering the fact that I will be 24, splitting living expenses 50-50 with mom, and I have a vehicle that is completely paid for, I will have lots of $$$ left over every month ($2800+) after my expenses are paid. What can I/should I do with the excess money? Hurry and pay off student loans (23k)? Save up and buy a new car cash? I don't have kids and I am single if that means much.
What did you do with your disposable income when you began your Nursing career?
ETA: I am not interested in becoming a home owner at this point. I like the flexibility of being able to pick up and go when I please and owning a home would make that difficult.
Why not? It is perfectly acceptable and even expected for multiple generations to live under the same roof. I plan to do the same with my mother (she is very excited about watching her future grandbabies!).
Only in America is such a practice frown upon.
I wanted to speak about multiple generations living together. I am currently dating a man that is African, his family is very religious and they all live together. I honestly believe having your family around to catch you if you fall prevents a young person from developing thick skin and it lowers motivation to succeed.
Living with parents is fine and dandy but dating, traveling, and financial independence suffer if you live with your family past the early adulthood stage.
Why not? It is perfectly acceptable and even expected for multiple generations to live under the same roof. I plan to do the same with my mother (she is very excited about watching her future grandbabies!).
Only in America is such a practice frown upon.
It's not only in America where people value both their relationships with family AND their own personal space and independence, but point taken that in certain cultures, it is expected to live with one's parents indefinitely.
I wanted to speak about multiple generations living together. I am currently dating a man that is African, his family is very religious and they all live together. I honestly believe having your family around to catch you if you fall prevents a young person from developing thick skin and it lowers motivation to succeed.
Living with parents is fine and dandy but dating, traveling, and financial independence suffer if you live with your family past the early adulthood stage.
Just my two cents.
I have actually found the opposite to be true. The young people I know including myself are the ones traveling the most and saving money because they are splitting their living expenses with their parents.
If I were on my own, I would not have been able to max out my Roth or plan a new trip abroad for next year.
I have actually found the opposite to be true. The young people I know including myself are the ones traveling the most and saving money because they are splitting their living expenses with their parents.
If I were on my own, I would not have been able to max out my Roth or plan a new trip abroad for next year.
Is there something different about money saved by splitting living expenses with same age peers?
I don't think the issue discussed is really about money, it's about what is gained or lost in terms of privacy, room to grow and make one's own mistakes, emotional as well as financial independence, etc. It's really hard to deny that the atmosphere within the home of parent and child is different than the atmosphere present when two unrelated, same aged peers live together. It's not necessarily all bad or all good, but the dynamic is definitely different.
In any case, it's kind of a moot point for the OP; she has already stated that she has no desire to live with her mom indefinitely.
I just find that line of thinking much too westernized and ethnocentric. Billions of people live in mult-generational homes...there is something to be said about families sticking together. I highly doubt billions of young adults from other cultures are being stunted growth-wise.
OP may choose to leave home, but if she doesn't, she shouldn't be shamed or pressured to leave.
Is there something different about money saved by splitting living expenses with same age peers?
I don't think the issue discussed is really about money, it's about what is gained or lost in terms of privacy, room to grow and make one's own mistakes, emotional as well as financial independence, etc. It's really hard to deny that the atmosphere within the home of parent and child is different than the atmosphere present when two unrelated, same aged peers live together. It's not necessarily all bad or all good, but the dynamic is definitely different.
In any case, it's kind of a moot point for the OP; she has already stated that she has no desire to live with her mom indefinitely.
I just find that line of thinking much too westernized and ethnocentric. Billions of people live in mult-generational homes...there is something to be said about families sticking together. I highly doubt billions of young adults from other cultures are being stunted growth-wise.
OP may choose to leave home, but if she doesn't, she shouldn't be shamed or pressured to leave.
I don't think anyone has "shamed" the OP for living with her mother, though several have advised her to consider moving.
And in the interest of considering other ways of doing things: Just because someone doesn't live in the same home as their parents doesn't mean they can't "stick together" or be very very close.
Congratulations on your job and welcome to nursing. The smartest money move I made was to sock away as much as I could into a tax deferred annuity. It came in handy later on when I hit rough financial patches- I could borrow against it and pay myself back. And pay those loans off! It will boost your credit rating.
Congratulations on your job and welcome to nursing. The smartest money move I made was to sock away as much as I could into a tax deferred annuity. It came in handy later on when I hit rough financial patches- I could borrow against it and pay myself back. And pay those loans off! It will boost your credit rating.
I never heard of a tax deffered annuity, but it sounds like something I would surely be interested in.
Being fit is super, however, you have to consider any mishaps and prepare yourself.
I will give you an example, one of my former co-workers fell down the stairs, reason: because she was reading her cell phone and not paying attention of where she was going Was in a cast for a bit, and then a boot. Now she was lucky that the office had her on light duty doing administrative things, but you as a beside nurse may not be able to. Furthermore, you can get into a car accident, and though the car insurance may pay some, you may have to cover the rest. So, I would look into a good health insurance through your work, an HMO even, just to cover yourself.
Some places offer different types of HMOs, my former place of employment had two, one had a low deductible and the cost to us was a little higher biweekly, the other had a higher deductible and it was less. Most of our younger staff chose the one with a higher deductible.
You are asking good questions, and in this forum you are going to find different advise and responses. Your reply indicates that you are open to suggestions. Take them all in, and identify the ones that you are willing to put in place.
Again, congratulations and much success.
You guys are offering incredible advice. I really appreciate the time you all took to give me positive words and such great advice. I have a question: as far as insurance is concerned, I am a young, fit and very active female with no preexisting conditions. Do I need an extensive health care plan or do I just need a bare bones package? Does it even work like that? Thanks!
I live with my parents rent-free so I get a large take-home income. I am saving up for retirement in my retirement plan, and I am saving up for either a home or graduate school. I want to have as little debt as possible in the future, and if possible, none. Edit: I also got good health and dental insurance. Edit II: I plan to live with my parents until marriage if I can. Many people in our culture look down on this, but I am happy. By the time I get married I hopefully will have enough money to start my future with a good amount of money saved up for my future family.
Was in a cast for a bit, and then a boot. Now she was lucky that the office had her on light duty doing administrative things, but you as a beside nurse may not be able to. Furthermore, you can get into a car accident, and though the car insurance may pay some, you may have to cover the rest. So, I would look into a good health insurance through your work, an HMO even, just to cover yourself.
THELIVINGWORST, ASN, RN
1,381 Posts
I wanted to speak about multiple generations living together. I am currently dating a man that is African, his family is very religious and they all live together. I honestly believe having your family around to catch you if you fall prevents a young person from developing thick skin and it lowers motivation to succeed.
Living with parents is fine and dandy but dating, traveling, and financial independence suffer if you live with your family past the early adulthood stage.
Just my two cents.