Still penny pinching

Nurses General Nursing

Published

I work at a local hospital, med-surg. I work very, very, very hard. When I'm at work, I give my all to my patients. Sometimes I come home dog tired. Too tired to eat. So why do I do all of this, go to school, get my degree, only to be rubbing two pennies together when I get home. I certainly feel as if I don't get paid enough for what I do. But when you think of a Registered Nurse, you don't really associate that with struggling. My family seems to think I'vw got it made. For some reason, I can't get over 300 in my savings account. Too give you a bigger picture of me personally. I do have a 2 income household with 2 kids. Renting, but with only 1 car note. It would seem as if I should be rolling in dough. But far from it. The only guilty pleasure that we can afford is eating out. We do this very often because of how tired I am when working. Don't get me wrong. It pays the bills, but exactly that and not much more. I am not sure if financially, I would even be considered to be in the middle class. How do you all discipline yourself enough to save? Am I the only nurse with lint in my pocket after working so hard everyday? How far can this career take you when it comes to making good, good money instead of chump change?

Thanks for any comments!

Specializes in Cardiac, Step-Down, Psych, Recruiting.

I also used to wonder why some other nurses seemed to go on all these vacations and have these huge diamond rings, then I talked to a few and found that they have huge credit card debt.

This is a great thread! I think the above sentence says it all. For years, I always wondered what the heck was wrong with us. How could everyone I worked with be able to afford huge new houses, yearly vacations, exorbitant Christmas gifts, etc. when we could just afford to get by. The last few years have been very telling -- many of these people have lost their big new houses that they bought on interest-only loans. Many are struggling to pay off credit card debt -- some to the tune of more than $50,000. We waited until home prices came down and bought a wonderful new house that is well within our budget.

I think the best thing is to not compare yourself to others. Just because people seem to have more money than you, doesn't mean it is so. Changing your mindset is a good place to start -- being grateful for what you have is the first step to being wealthy, in my opinion. And who cares what other people think of you -- it's none of their business how much you make or don't make. I stopped discussing money (at all, period) with my nosy, judgmental family.

After keeping track of where our money goes, and making a budget, we also cut back on many of the "extras" that seem to creep up on you. I cut my cell bill back to the very basic plan, because I don't text much and it's cheaper for me to pay by the text if I do send -- that saved $50 a month. My husband insists that his life would end if we did not have extended cable and NFL network during football season, but I made him cut off the premium movie channels, which saved $50 a month. The NFL network cost comes out of his personal spending money (which uses all of it :icon_roll ), but that's his choice.

It is important to make sure everyone has some spending money each month, whether it is $10 or $100 dollars, just so they have something they can spend without accounting for it to others.

We are going to do a modified Dave Ramsey debt-reduction plan after the holidays to get rid of the few debts we have, because although I think Dave Ramsey is a pompous wind-bag, much of what he says about debt is very true.

My cost-cutting goal right now is to take dinner left-overs for lunch and pack my own breakfast to cut down on buying the over-priced low-quality food in our hospital cafeteria. This should save over $100 per month. I also need to try to use coupons more often, as well.

And to the OP -- I do think nurses should make more money, but I don't think that's why most of us are broke all the time.

You've gotten some good suggestions on how to live more economically on your salary, so I won't address that.

Will you ever be able to live what we think of as a middle class lifestyle as a nurse? Depends. Some people on this board are willing to work lots of overtime and so do pretty well. Some people are willing to work in "hellholes" and get premium pay for doing so. Some people are able to go back to school and advance to positions which pay more than staff nurse jobs. But in general I think that the idea that bedside nursing is a middle class job is no longer true. The only nurses I know who are living

middle class, money always left over, money for new cars, vacations, etc., are nurses whose spouses work in good paying jobs. I know that despite raises every year, my actual earning power has declined over the past 20 years. I'm glad to have a secure job in this economy, but I don't kid myself that it's my ticket to the middle class.

Specializes in cardiothoracic surgery.

I think the best thing is to not compare yourself to others. Just because people seem to have more money than you, doesn't mean it is so. Changing your mindset is a good place to start -- being grateful for what you have is the first step to being wealthy, in my opinion. And who cares what other people think of you -- it's none of their business how much you make or don't make. I stopped discussing money (at all, period) with my nosy, judgmental family.

This is so true! People I work with have big diamond rings and 3000 square foot houses. But if that's what you like, then so be it, but don't complain to me when you don't have any money. Our house is 1900 sq feet and it is still to big for us! How many people can truly afford a big house, fancy clothes and fancy cars? Not many. We live very simply and that makes me happy, knowing that we live within our means and that I have money in my retirement plan. I agree, this is a fun thread. I could go on and on about this topic!

I know one of the others have said this but if you cook ahead for the week it's so helpful! I do this now, I'm in school, I am soo dog tired when I get home I don't feel like cooking either. I cook a ton of chicken on Sundays and use it over the week, precook pasta, set up casseroles ahead of time, and Fridayr, we eat out :) Hope this helps, I know from personal experience that eating out eats a whole through your paycheck everytime!

Specializes in General adult inpatient psychiatry.

I think it's important to monitor where exactly all your money is going and see if you can cut down on impulsive buys. I'm single, but I'm supporting my fiance, so I feel like 1/2 of my money goes right into rent and it's hard to think that I'm making all this money but I can't seem to save it for the life of me if I know that it's there. And then sometimes things come up, like having to pay $400 at the eye doctor for new glasses and contacts. I'm sure other people have given you good advice too but I hope this helps.

Specializes in Family Nurse Practitioner.
And they probably complain that they never have any money, can't save, blah, blah. JMHO and my NY $0.02.

Lindarn, RN, BSN, CCRN

Spokane, Washington

Yeah and that they can't understand why they have gained so much weight.:rolleyes: Eating out on a regular basis is a losing proposition in more ways than one, imo.

We are paying off our truck loan-rest are older, paid for vehicles.

No credit card debt-don't want to be like a family member that had to cancel 18 credit cards so they would be able to keep track of the few they truly wanted-didn't have any debt but can you imagine keeping track of that many cards?!

We have a debit card and a credit card-used sparingly so they won't cancel it-we go against Dave Ramsey on this one since my hubby travels oversees and debit cards are NOT always excepted everywhere.:coollook:

Mortgage will be paid off in 10 years instead of the 30 year original plan.

I have many cookbooks and a great kitchen that needs some cooking done in it! Hubby eats out for job often so LOVES it when I cook:loveya:

I go to consignment stores for my kids and me. Christmas is just a couple special gifts. We go to the library and check out books and movies for free or re-watch movies we have at home and have family night at home instead of out. Invite friends over and they all bring a snack or dish to pass. We play lots of Wii and board games. It reminds me of growing up in the 70's and 80's when eating out TRULY was a treat and family time was important to our family since my parents didn't have the money for movies or eating out very often.

We built a house this year but did quite a bit of the work ourselves:painting, tiling, wood floors,etc. It is our forever house and it is beautiful but we entertain at home so we wanted somewhere nice to hang out for ourselves, friends, and family.

Spend on what is truly important to you-eating out, vacationing, your home, or children and then scrimp on the rest. You work hard-you just need to be choosey on where you want/need to spend it.

I agree with the writing down of what and where you spend your money now and make adjustments as needed.

Good luck!

Specializes in School Nursing.

Just wanted to say this is a great thread! I am fortunate to have a DH who makes good money, and we are very comfortable, and have everything we need and the vast majority of what we want. Did just find out that the dream house we bought in July needs a new septic system, so we have to shell out some unplanned $$ since the home warranty does not cover septics and the home inspector did not catch it (loopholes everywhere to protect everyone but us, grrr.)

So, I will be putting these tips to use, starting today! I hope this thread keeps going with lots more great tips. Anyone want to share links to websites they use for financial advice?

Williss2:

Where do you live? Standard of living is wages divided by cost of living. The denominator (cost of living) is more important than the numerator (wages) because it varies more.

I am not a healthcare worker, but my wages are perhaps somewhat above what the average BSN earns. This combined with a low cost of living where I am gives me a very good standard of living.

I call my financial philosophy the 6 Don'ts:

Don't smoke

Don't drink

Don't do drugs

Don't gamble

Don't borrow money

Don't drive more than 6,000 miles a year

You'll be amazed at how fast you can accumulate money.

My neighborhood includes a new development of very nice large houses. Looking at my modest Cape Cod, you would think that my income would be below average. I was shocked when it turned out the average neighborhood income was slightly below the median; about $15,000 less than I make. I guess I know where their money is going.

I found this out because we are going to get city sewers, and grant money for the project depends on neighborhood income.

Specializes in Cardiac.
The only nurses I know who are living

middle class, money always left over, money for new cars, vacations, etc., are nurses whose spouses work in good paying jobs. I know that despite raises every year, my actual earning power has declined over the past 20 years. I'm glad to have a secure job in this economy, but I don't kid myself that it's my ticket to the middle class.

So, you don't even consider yourself to be middle class? What income bracket do you define as middle class?

So, you don't even consider yourself to be middle class? What income bracket do you define as middle class?

Income bracket for middle class would vary with part of the country you live in, whether you're urban or rural, etc.

I consider myself upper lower class, and that's pretty much what I've always been. I live in the rural midwest.

I work at a local hospital, med-surg. I work very, very, very hard. When I'm at work, I give my all to my patients. Sometimes I come home dog tired. Too tired to eat. So why do I do all of this, go to school, get my degree, only to be rubbing two pennies together when I get home. I certainly feel as if I don't get paid enough for what I do. But when you think of a Registered Nurse, you don't really associate that with struggling. My family seems to think I'vw got it made. For some reason, I can't get over 300 in my savings account. Too give you a bigger picture of me personally. I do have a 2 income household with 2 kids. Renting, but with only 1 car note. It would seem as if I should be rolling in dough. But far from it. The only guilty pleasure that we can afford is eating out. We do this very often because of how tired I am when working. Don't get me wrong. It pays the bills, but exactly that and not much more. I am not sure if financially, I would even be considered to be in the middle class. How do you all discipline yourself enough to save? Am I the only nurse with lint in my pocket after working so hard everyday? How far can this career take you when it comes to making good, good money instead of chump change?

Thanks for any comments!

if you are working a 40' week without overtime and are too tired to cook, i would suggest getting a good physical, including an endo work up and assessed for depression.....good luck

+ Add a Comment