I will be graduating from nursing school in May, and is just curious about what type of things do new graduates do when they become a nurse. My plans is to invest in a house and maybe a new car. I have a 10-year old son and he is really looking forward to this. Do you think this is possible with the income new grads will start off making?
Buy the way, in my state (MI) most hospitals start btw 22-24 dollars an hour.
Just curious, RN in 07' :balloons: :balloons: :balloons:
I bought a used Honda Civic for $3700 and saved most of the rest for graduate school tuition. I did let myself splurge a little more - ate out about once a week, whereas when I was in nursing school I NEVER ate out; went shopping when I needed new clothes instead of just doing without; and went on roadtrips without worrying about the cost of gas. Right now I feel pretty rich with all my savings, but in six months after I pay for school I'm going to be broke again :) And you really do get used to the bigger paychack, unfortunately. I can't believe my nursing school days when I thought a $250 paycheck every two weeks was good money.
I had orientation today, got my Rate of pay, and plan to get me some contacts next week :monkeydance: . That is going to be my gift to me. Then I have to prepare to move. I think I will be moving in with my mom for a month because I don't think it is in my best interest to stay where I am now. I can at least save money to get a decent apt. The rent in CT is off the freakin' wall!!! So it is going to take me some time.
I know this makes me sound like an "old fuddy duddy," but ...
Many years ago, when I was a new grad, I lived very cheaply. I shared an apartment to save money and didn't go on a spending spree. I remember splurging on only 2 things -- a good suit to wear when I needed something "good" to wear and a stereo. I drove my Dad's old car for a couple of years until I could afford to buy a "new" used car for myself.
I saved my money dilegently and was able to pay for my MSN without having to take out a student loan (because I got some grant money to help with the costs). That set me up well financially -- and I have never had credit card debt, etc. After getting my MSN, I worked for 10 years and then went back to school again for a PhD needing only a small student loan.
Now ... I am 52 years old and live in a luxury waterfront condo. I am contemplating early retirement (or probably semi-retirement in a few years) because I have been building my retirement funds regularly over the years.
I am glad I didn't run up a lot of debt when I was in my 20's and 30's. I was able to "get ahead" and never had to have my life determined by worries about money. I've always been able to afford the things I needed because I didn't buy a lot of things I didn't need and go into debt to pay for expensive "fun stuff" when I was younger.
I am very happy to read that some of today's new grads are being sensible with their money. Trust me, you will be happy about that in the future.
I didn't really "splurge" on anything except necessities. I paid off a lot of bills, paid back a lot of family that helped to support me while I was in school. I went to a lot of doctors on health issues I had let go while I didn't have insurance. I got new glasses as the old ones were 4 years old, new contacts, eye exams for the hubby and daughter. Stupid things like that. Now I want to look into saving for a 2nd car and the exorbatant NJ insurance prices that come with it. I also want to start giving my grandparents money to secure inheriting their house, so in a way I'm starting to "buy" it from them because if it goes to any other member in the family - they'd sell it and I'd be heartbroken.
I'm going to start at school this fall for my BSN which will partly come from money from me, money from the hospital and money on my loans which I've started paying down knowing I'd have to use more of them again.
Specializes in Brain injury,vent,peds ,geriatrics,home.
I know this sounds silly.I already had a house and "running car".Not like that beautiful mustang!But Ive always wanted a cockatoo!Very expensive parrot.I bought PEACHES,my pet Mollucan cockatoo!And have had him and others ever since.!
I will be graduating from nursing school in May, and is just curious about what type of things do new graduates do when they become a nurse. My plans is to invest in a house and maybe a new car. I have a 10-year old son and he is really looking forward to this. Do you think this is possible with the income new grads will start off making?
Buy the way, in my state (MI) most hospitals start btw 22-24 dollars an hour.
Just curious, RN in 07' :balloons: :balloons: :balloons:
I can't say that I really "bought" anything big, but I invested in my BSN and completed that and have a new baby coming in July, so we have put some money into stuff for the baby.
If you don't want to hear advice, go on to the next posting.
I think you should wait at least a year before you make any major purchases (car, home, boat, etc.). You'll have plenty of time for that in the future after you take care of any debt you may have. If you don't have a reliable car to get you to work, pay cash for one (under $2500). Your degree is great but it is not a license to print money. You could probably go out right now and qualify for a loan to buy too much car and too much house but you'll be miserable keeping up with the payments. Financial expert Dave Ramsey calls it "Doc-itis". You could probably call it "Nurse-itis" too. If any of this makes sense, you should check out Dave's site. Good luck!
I am 6 months into my nursing career and I have paid off a lot of debt. We are taking our kids on a beautiful vacation, renting an oceanfront home for a week. I am so excited, I have wanted to take my kids on a beach vacation for many years. This will be a bit costly and it goes against my frugal senses, but you have to live a little once in awhile. I am so excited and looking forward to our vacation that the cost doesn't bother me, I have been socking away money for this vacation with every paycheck. After all the hard work and stress of school and being a new nurse, my family is ready to decompress.
arizonanurse
79 Posts
I bought a used Honda Civic for $3700 and saved most of the rest for graduate school tuition. I did let myself splurge a little more - ate out about once a week, whereas when I was in nursing school I NEVER ate out; went shopping when I needed new clothes instead of just doing without; and went on roadtrips without worrying about the cost of gas. Right now I feel pretty rich with all my savings, but in six months after I pay for school I'm going to be broke again :) And you really do get used to the bigger paychack, unfortunately. I can't believe my nursing school days when I thought a $250 paycheck every two weeks was good money.