Guess I just have to blow off some steam. I have wanted to be an RN for many years, and I finally am, 2 yrs now. I love it. However, what has me irritated is that, although I didn't choose nursing for financial reasons, I find that I still work as hard as I ever have, to this day, to make it from paycheck to paycheck. Still have 2 kids in the home, and a wife. Spent the day applying to staffing agency's, and per diem positions because I just can't afford to work 3 shifts per week. I have nothing fancy. No fancy car, no "toys", no cottage on the lake, no rentals... I live a very meager existence. And although I really do not need much, I am tired of living paycheck to paycheck! It would be nice someday treat my kids with something, instead of explaining how we don't have any money for anything extra. At times I don't know how I am any better off these days compared to my early marriage years when we lived in a double wide, had one vehicle, life was simple, and worked at some menial job where I didn't have someone life in my hands, like at work. I am not bitter, just really wondering what in the h*#l is going on...
And then, add to this the fact that there are so many of my peers that have all kinds of "stuff." What have I done wrong? Or are my suspicions that " most of these deer folks are living on credit" accurate??? I don't know...good thing I like working because I will never know anything else.
Oh, yesssss.... you know the old saying, "Don't believe anything you hear and only half of what you see." I know MANY people who would love for society to think that they are super successful, but the reality is that many of them are in debt up to their eyeballs because they spend money on foolish things that they 'want' rather than what they 'need.' Or, they don't have much money in the bank. We took a huge pay cut when I quit my job to go to nursing school (which I am currently in right now), so I understand how you feel. Hang in there.
Luke Suze Orman says, "Live within your needs, but below your means."
My husband and I are a two income household with no kids. Sometimes we wonder where all the money goes but we have no debt (minus his student loans), have been able to start building a savings account, and are paying for my Master's degree out of pocket. I'd say we are doing ok
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!
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I feel poor now, 60k is rich to me!
I only have one kid, and don't own a home or anything else I'd need to make payments on so that helps. We are currently scraping by on my fiances income, which pays well hourly but is very irregular. Once I start school I will be receiving some money from grants which should help. And hopefully I can get a decent job once out of school.
Technically we are poverty level, but Im a nazi with the budget so we get by. We qualify for assistance, food stamps etc. but right now are only taking WIC and the babies medical card. I could get disability but want to work and am afraid it would interfere with school or someday working. Not to mention the judgement.
I have paid into the system, my partner pays into the system, yet we are leaches. I've been judged for going to a food bank, a place that I have personally volunteered at and done multiple fundraisers for. I've brought more food in than I took, yet my grandmother looks at me like I am a disgrace.
It's amazing what we take for granted. We all assume our standard of living is substandard. To those talking about limiting eating out to once a week, if you can actually afford that, know that so many people are jealous of you and assume you are well off. The people you think are well off probably consider themselves struggling.
That's very impressive. But make sure you have time for the books. A lot of hard-working people in my class ended up failing because they didn't have enough time to study. Failing a class sets you back at least a few months and a few thousand dollars.
I know some nurses that still live at home rent free! And I know many RNs that are young, not married yet, no kids, so lots of extra money. I am a new RN and I also feel like I am still living paycheck to paycheck...I dont have kids yet, I dont have any credit card debt, I havent started paying off student loans yet but when it comes time it wont be a big payment. They say people will always live beyond their means, so as you make more money, you will increase your standard of living and you will find ways to spend your money and it will never be enough.
Do you know for sure where all your money goes? A lot of people are surprised when they spend a month or two accounting for where they spend their money. Cable, $100 cell phone contracts, $200 eating out....all the little extra non essential items can really add up fast.
My phone is prepaid, cost $30 and I buy a $19 phone card every three months, yet people with way less money and way more mouths to feed run around with Kindles, smart phones, Ipads, etc. Just sayin....
For the record, Dave Ramsey filed bankruptcy years back..he does give good financial advice but he hasn't always followed his own advice..
Many people live paycheck to paycheck - not because they spend a ton but because the economy is bad and prices have gone up while salaries have not by and large.
I too know people who look like they have a ton but they place a lot on credit..one couples philosophy is as long as they can meet the monthly payments they are going to worry about paying it off..and they do not stress and they do lead a nice life.
As for me and my spouse, we try to pay cash for everything..we have our mortgage on a small house and one car payment that is for a used 2007 and will be paid off by this time next year. We do eat out, do not have kids and keep the phone/cable and electricity within means..we do not have savings, I have no retirement (I can hear the gasps) because I have worked PRN or part time most of my career. My goal is to start a savings account by the end of this month. I shop mostly at thrift stores for clothes (excluding underwear and shoes) and we are stable. I work part time, by choice, because of my spouse's schedule it works best so we have time together. Yes, I could work FT and more but we have, for now, found a balance between living and working for a living. I do have student loans and will most likely not have them paid off in 20 yrs but I'm making the monthly payment.
Possibly where you live the wages are lower - they are where I live - and money in nursing comes in management and working for the federal govt. Try usajobs.gov
I have to wonder if the OP is in any debt and what on earth is his wife doing? Sounds like she needs to get a J.O.B if she doesn't already have one. Otherwise, it is unfair for the financial burden to fall all on one half of the partnership.
I second the Dave Ramsey, but I also think you should be paying more attention to your finances. There is no reason one should be still living from paycheck to paycheck after a huge salary boost from a "menial" job to a professional field like nursing unless you have incredible student loans or had some kind of medical bills that are putting you deep in the hole.
By peers do you mean coworkers or nurses in general? maybe your coworkers have a spouse that gets paid well. Nursing pay varies on where you live. I live pretty well. New car, no debt(including no school loans), pay all my bills, large savings,expensive handbags and clothing. I am single without any children. I have nicer things and need less money than my coworkers with kids. I do work a bit if ot as ly floor is always short staffed. some weeks up to 60hrs. If you can work as many holidays as possible and ot on holiday weeks
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.
OT is the way to go, not only do you get extra $$$, but you also accrue extra PTO and goodwill from management. Once I get settled in a hospital I always make friends with the bedboard nurses or whomever schedules pool/float staff. I bring a box of donuts and introduce myself, and let them know that I'm flexible and willing to float and do OT. Then when they call me I always accept the assignment. Once they know that you are a good nurse and dependable for extra shifts, you will go to the top of their list.
I'm a single mom/LPN/RN student and I work my a** off to support my son, but I am also modeling a strong work ethic for him.
If you have any student loans, call Sallie Mae and ask if your hospital qualifies for PSLF. If so, you can get help with loan forgiveness for working for a non-profit organization.
Racer15, BSN, RN
707 Posts
I'm single with no kids and rent my house from my mother, that is how I have the money that I do.