Money Mistakes I Made as a New Grad Nurse

Picture this, you get your offer letter for your first nursing job and you are so excited! You make a plan for how you are going to spend your money, but most of us dont make a plan for how we are going to MANAGE our money.

Most nurses make good money! We just dont know how to manage our money properly. So once we get that dream job or even first job, we revert to the above mindset of “how am i going to spend this money im making?” We get that nice apartment! We buy that car that we wanted! And then we are stuck with student loan payments (that we have probably forgotten about).

This all adds up to 3/4 of our income so of course we feel like we are broke!

I did this too, so you aren’t alone.

Here are the 5 mistakes new nurses make, and what to do INSTEAD!

We don’t start saving for retirement the day we are eligible

We use overtime to pay for stuff instead of using it to pay off debt and invest in our future

We believe that our student loans will just be with us forever

We don’t automatically transfer our savings on payday and save at least 10% of our income

We believe the only way to make more is to go into debt to get an advanced degree

If you are wanting to change these and start off being a wealthy nurse ahead of your nursing peers you have to start NOW by creating good habits and learn financial literacy. You also need to address your trauma and how it affects the way you spend and manage your money.