Ventage

I think a lot of people live on credit. I know, despite my husband having a great job, we are still putting things on credit as I am currently not working and focusing on my 22 month old and soon to be born second child. I know before I took my time off I was making around $46K a year, which isn't bad for a single, however it is expensive to feed/clothe a household. This is part of the reason I wanted to stop at two children, so I could give them as much as I could.

I am sorry that times are tight, but sometimes that brings perspective to your childrens' lives as well. I know I grew up on a goat farm and learned there were a lot of things I didn't need to be happy.

Tait

You mean you need to work more than 3 shifts per week? Is there a reason you can't do so with your current employer? Overtime with the same employer would probably net you about as much as staffing agencies elsewhere. I might live in a different area than you job-wise, but I can get overtime anytime I would like to in my current hospital, which is not even very large - just over 200 beds.

I am only guessing but it sounds like whatever you make, you spend. Surely your salary cannot have gone up and your spending habits have stayed the same, and you're still living paycheck to paycheck.

For teaching people how to deal in life and money, I am a Dave Ramsey lover. Check out his website and find out when and where his radio show is played in your area. We have followed his principles - loosely, even - and have no debt now except for our house, have money saved up for our next vehicle, close to 30K in liquidity, and have solid retirement accounts. We even did some of this on one (active duty military) income, while I went to nursing school and didn't incur debt for it (disclaimer: partially funded by GI Bill). We do have an above average combined income, but just listening to him is inspirational - it makes you want to be rich and find a way to make it happen by getting your income up, etc. Sorry to ramble, but just trying to be helpful.

^Curious as to your solid retirement accounts? how much do you have saved in solid vs liquid accounts? 401K Means nothing if the stock market sucks.

Well, I am still on orientation in ER so they will not give me any extra shifts, although when it benefitted them(and me) last week I was good enough to call...you know what I mean.

A previous manager of mine told me about Ramsey. Guess ill check into him. I have been saying recently that we need to talk to a financial advisor. I would also love to live in a 2 room house...not need to have a bigger house. In my experience a bigger house is used to store junk that one does not need. I am more of a social person than a possessions person. I have no interest in watching television while the world passes by...but, we do not eat out...maybe once a week

We did the Dave Ramsey method and live debt free minus one mortgage. Although we are able to save $ every pay check, we don't have an over abundance of cash. We both need new cars, nursing school tuition, daycare expenses, etc...

Living well doesn't equate to living with "things". There are always ways to save money.

Nightshift weekends. THAT is where you make money. And then overtime. Incentive overtime.

If you're already doing everything Dave Ramsey recommends, I would visit the Mr. Money Mustache blog. He has some great ideas for cutting costs. If you are able to pick up shifts after your orientation, that sounds like a helpful thing. I work 32 hrs/week, which exactly covers my strict budget for a family of 4, so I try to pick up a shift each pay period, so I can sock that away for emergencies. I've also been a nurse for 2 years.

^Curious as to your solid retirement accounts? how much do you have saved in solid vs liquid accounts? 401K Means nothing if the stock market sucks.

I see how I wrote it looks weird. By "solid" I simply meant that there were substantial sums in each of them. If there is an financial term "solidity," that is not what I meant.

As far as the stock market sucking, it has averaged, what? 8% annual return over the last 100 years? Any better investments out there than that, growing tax deferred (tax free in the case of a Roth), along with the employer match? Protected in bankruptcy and untouchable by a judgment creditor in most if not all states? If there are better schemes I'm all ears.

I think alot of people are either living on credit or working overtime and if married have two incomes. Besides Ramsey which is against debt I recommend Deal with your Debt by Liz Weston which is a more practical approach. The easiest budget I've seen is from the book All Your Worth by Senator Elizabeth Warren. It recommends 50% needs, 20% savings and or debt repayment and 30% for fun. But hard to keep needs down to 50% when health insurance costs so much!

Nursing pays a living wage but it won't make you rich. I think the average nursing salary is about $60,000+ and in the top 1/3 of income in America. Just remember many people are getting by on a lot less, many are stuck in jobs of $30,000 or less!

Paying off student loans should be a priority, putting that off only increases the loan amount. Consolidate now while rates are low to extend the pay off period if you can't afford the 10 year plan. Pay off private loans first if you have them because they usually have higher rates, variable and don't have the flexibility that govt loans have re deferment, forbearance and income contingent repayment.

Save up at least $1000 for emergencies, try to max out the Roth IRA, at least the money is available without tax or penalty in a worse case scenario unlike the 403b.

But I know what you mean, the money just doesn't go as far as you wish it would. So you have to be savvy with money and spending. You can't live like a rich person and probably many of those around you are getting by on credit or lots of overtime.

I know I blow about 50-75 bucks a week on gas, and my spouse does the same ,as we have to commute. No jobs near home. Also , cant afford a better vehicle- both are 2003-2004 ,one has 170,000 miles on it.House , which was purchased in 1999,is now still " upside down" we would never even get what we owe on it.

I'm sure we aren't the only ones.

Oh , and to those who say get a second job- how can I when my FT schedule is rotating 3-4 shifts a week, random days?

Hmm- got me thinking. propane/electric 250-300/mo in winter. Health ins thru my employer 500/mo.Taxes- 6000/yr.

Not including groceries, school loans, etc.

Ventage- I like that.

The only way my fiance and I do it is we are both nurses so we both make a decent living alone. Combined it is not that bad at all

I'm single with no kids and rent my house from my mother, that is how I have the money that I do.