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.
Specializes in ER/Tele, Med-Surg, Faculty, Urgent Care.
I and many others have told her in other posts. I think a guide even called out on it. I don't think she cares
ETA: just saw where she added 2b
The 2b was added by admin after she was reported. She was called out on it by many of us, told Mavrick she would change the name, then never did, just ignored it.
This person doesn't have a BSN or license yet refers to themselves as NurseBSN??
Well just call me "Astronaut_Samuri_PhD". Wow that saved me a lot of effort and money!
Sorry to offend you, Mavrick. It was an honest mistake. I'm relatively new to AllNurses and I am less than 2 months shy of graduating from my BSN program, but I will change my name.
The 2b was added by admin after she was reported. She was called out on it by many of us, told Mavrick she would change the name, then never did, just ignored it.
This person doesn't have a BSN or license yet refers to themselves as NurseBSN??
Well just call me "Astronaut_Samuri_PhD". Wow that saved me a lot of effort and money!
Sorry to offend you, Mavrick. It was an honest mistake. I'm relatively new to AllNurses and I am less than 2 months shy of graduating from my BSN program, but I will change my name.
Think of it this way- the more you put into your retirement at a younger age the more you'll have in your nest egg when you retire. Not to mention the tax savings you'll receive from lowering your income bracket. Also, you can withdraw without penalty in limited circumstances, particularly homeownership, or borrow from yourself if you end up having financial needs in the future. The maximum amount you can put into a 401k/403b is around 17,000 or about $1500 a month. You could do that and still have over a grand a month to have fun on. Wish someone had explained this to me right out of school.
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!
It depends. I would be sure that if you need to go to an MD, that is little co-payment. Urgent Care or ED stuff is little co-payment and a good drug plan. That way if you have a sore throat and go to the doctors and get some medication it is not going to cost you a ton.
And I would get a reasonable deductible. You just never know, and the time to find out your out of pocket is outrageous is NOT when you are admitted to a facility.
Specializes in ER, ICU/CCU, Open Heart OR Recovery, Etc.
Pay off your student loan and any other loans. I'm not sure how your credit is, but if you don't have much you might start working on that with one credit card with a modest credit limit. If your credit isn't good, use this time now to work towards improving it. Save as much as you can, but enjoy life. Traveling is great, it broadens the mind! I also recommend consumer helper Clark Howard. You can Google him. Also aim for 6 months of your salary as an emergency fund and begin making contributions to an IRA or 401K.
Think of it this way- the more you put into your retirement at a younger age the more you'll have in your nest egg when you retire.
Why wait until your are retirement age to enjoy life, by then you are older and your body won't allow you to do what you can do when you are in your 20's.
Live life up for a few years, Travel, party, enjoy other countries and other cultures. Don't wait till you are old to try to enjoy life, do it now while you are young. You will have a lifetime of memories.
Why wait until your are retirement age to enjoy life, by then you are older and your body won't allow you to do what you can do when you are in your 20's.
Live life up for a few years, Travel, party, enjoy other countries and other cultures. Don't wait till you are old to try to enjoy life, do it now while you are young. You will have a lifetime of memories.
One is never to old to enjoy life. Most of it is about attitude.
Every decade I've lived has been my "favorite." My Dad is 79 and he enjoys the hell out of life. He saved well, and guess what he does, in addition to volunteering all over the place? He travels!
Who knew one could enjoy one's youth even while saving for later? I'd like to think of the OP as one of those happy gray haired ladies someday, taking yet ANOTHER trip to Europe or Australia or the Great Wall. It can be done, if she plays her cards right NOW. She doesn't have to choose between having fun NOW or having fun LATER. She can absolutely do both, and if she follows some of the great advice given here, she will.
LDAthleteNurse, BSN, RN
407 Posts
Even if I'm sitting on an excess of $1500 bucks a month, I'M STILL BALLIN FAM! **makes it rain all over the haterzzz**