The Single Best Financial Advice For Nurses

The Single Best Financial Advice For Nurses

Nurses work hard for the money. But they need to be saving more of it.  Unquestionably, this is the best financial advice for nurses today.

During my first few tumultuous weeks as a new grad nurse, a mentor with over 20 years of nursing experience gave me some invaluable advice,  “Save your money now,” she said.  “Pay off your school loans and automate your savings so you don’t even see it. “As a second career nurse I already had a decent 401k from a prior career selling medical equipment, but it was great advice that I needed to be reminded of now that I was beginning my new career as an RN. 

Over the years I have found that nurses are very good at worrying about the health and well-being of others, before their own.  Our financial health needs to be given as much attention as we devote to our patients.

Everything in nursing is evidence-based.  Are nurses ignoring the evidence that compounding interest is the secret to growing wealth slowly and ensuring their financial health into their golden years.

Piggy Bank sitting on pile of cash

The best financial advice for nurses is to start start saving more money for retirement at a younger age. 

Are nurses making what they are worth?

Many nurses choose the profession because they are passionate about patient care and they want to make a positive impact in the world – not because they are trying to become millionaires.  But nurses still deserve to make a decent living and have the ability to afford a decent retirement savings by the time 70 rolls around. Unfortunately, many nurses are deferring retirement because they simply cannot afford it.

Recently, someone said to me that they thought nurses made too much money.  My jaw practically hit the floor.  “Too much?”  I must have heard that wrong.  Is it possible that what he actually meant was “too little?”  Nope. I heard it right the first time.

So I asked “how much is your life worth?”  As an emergency room nurse I work with the most kick-ass, life-saving nurses out there.  In fact, all the nurses at my hospital are breaking their backs to help people.  Yet despite our sacrifices we are increasingly underappreciated for the hard work we do.  (By the way, he never told me how much he thought his life was worth.  He just kept insisting that we are so overpaid for the work we do).

What is the future of nursing going to look like?

I live in California where we still are fortunate enough to have this thing called “safe patient ratios.”  And we still have a nursing union, so I consider myself luckier than many nurses.  I hear the nursing conditions in some states are deplorable.  (Although due to a recent vote in the Supreme Court, both our union and safe patient ratios may be in jeopardy of going away here some day as well).

In light of this and other new developments, I foresee a few changes within my workplace and the nursing field that may negatively effect my working conditions.  Healthcare is a business in the United States.  Nurses are in the business of saving human lives while our hospitals are in the business of saving money.  What profession do you think will be the first to take a pay cut?

Is the wear-and-tear of nursing worth it?

Not to keep harping on the bad, but while I’m at it there’s this: I worry about how long I can physically be a hospital nurse before I hurt myself.  I have been a nurse for 7 years and I am already experiencing chronic back pain. 

Many hospitals are failing to protect nursing staff from becoming patientsAnd studies are showing that proper technique when moving patients still exposes nurses spines to dangerous forces.  In light of these concerns, I am exploring other ways I can continue to practice nursing outside of the hospital setting.

Nurse, save your money now.

I am saving and investing as much money as I can with each paycheck.  It is the wise thing to do and, frankly, who knows how long I will be able to work.  Besides, there will always be employers out there who want to pay nurses less than we deserve.  We cant just keep taking care of everybody else’s needs at the detriment of our own financial well-being.

If you are not already, save as much as you can now and make your savings automatic.  This is singularly the best financial advice for nurses. Your future self will thank you for it.  

Please leave a comment below.  We love hearing from our readers!

Additional Recommend Reading:

Nurses Nurturing Nurses Interview With Jessica Smith, RN

Nurses Nurturing Nurses Interview With Jessica Smith, RN

In case you missed it, last week I was interviewed by the amazing Nurse Coach Jessica Smith and we talked about bouncing back from burnout.

Well, guess what?  I got ANOTHER chance to talk with Jessica this week about a topic that is near and dear to my heart:  nurses nurturing nurses!  (I had so much fun the first time, what can I say?!)

Our ‘Nurses Nurturing Nurses‘YouTube interview can be found HERE!

During the interview, we discussed:

  • Strategies you can use to attain a work-life balance with a busy nursing schedule;
  • How you can design your life around how you want to feel;
  • How doing simple things each day can make a BIG impact on your overall health and well-being;

I’d love for you to listen in – and even better – leave a comment!

Again, the link to listen in can be found here!

Take care,

Sarah

Additional Recommended Reading:
7 Ways To Beat Nurse Burnout
Nurse Burnout:  How Administration Can Help
How To Achieve A Work-Life Balance As A Nurse
Nurse Health:  Self- Care For 12 Hours Shifts

Bouncing Back From Burnout Interview With Jessica Smith, RN

Bouncing Back From Burnout Interview With Jessica Smith, RN

Nurse burnout sucks.  I’ve totally been there. 

So, it may seem odd at first to hear that I also LOVE talking about nurse burnout. In fact, I think every nurse experiences burnout at some point in their career (if you haven’t please email me back and let me know your secret!). 

Here’s the kicker.  Once you admit you have an issue with nursing burnout you open yourself to the idea of potential solutions.  But if you just pull your hoodie over your eyes and continue to suffer in silence then nothing ever changes.  And your burnout gets even worse.

So, let’s talk about solutions for nurse burnout!  (Solving problems is always better than complaining anyway). 

Bouncing back from nurse burnout
Last week I had an amazing opportunity to interview with nurse coach and fellow ER nurse, Jessica Smith about bouncing back from burnout!

Our Bouncing Back From Burnout YouTube interview can be found here

During the interview, we discussed:

  • How you can find a work-life balance with a busy nursing schedule;
  • Why nurses need to make their own health a #1 priority;
  • How getting to the “why” in your burnout can help you find patterns that contribute to your burnout;
  • And why you should always surround yourself with positive support!

I’d love for you to listen in – and even better – leave a comment or share it with your fellow nurse friends!  

Again, the link to listen in can be found here!

I can’t wait for you to check it out!

P.S.  If you are a nurse struggling with finding ways to take better care of yourself, here is a FREE E-BOOK .  It’s called Nurse, Take Care Of Yourself First.  Because nurses work really, really hard.  And we need to be taking better care of ourselves.  It includes tips for nurses on how to stay healthy during 12 hour shifts, ideas for better self care at home and suggestions for finding a better work-life balance.  

Additional Recommended Reading:

7 Ways To Beat Nurse Burnout
Nurse Burnout:  How Administration Can Help
How To Achieve A Work-Life Balance As A Nurse
Nurse Health:  Self- Care For 12 Hours Shift

Travel Nurses Need Yoga To Stay Healthy!

Travel Nurses Need Yoga To Stay Healthy!

If you know anything about me at all, you know that I absolutely LOVE yoga (its a little obsessive actually).

And as you also know, I really love to write about how to help nurses take better care of themselves.

Which is why I was so excited to write a guest post for a travel nursing blog titled 3 Very Important Reasons Why Travel Nurses Need Yoga.  (Please check it out here!).

Travel nurses have a lot on their plate!  They take travel assignments in cities where they’ve never even been and then work in different units with entirely new staff.   And then when they finally think they have everything figured out their assignment ends and they go someplace else!

On top of that they also have the physical and mental stress that comes with working 12 hours shifts.

Travel nurses need yoga.

By taking care of ourselves we are able to replenish our reserves and take better care of our patients and families.  There is an endless amount of studies on yoga and its amazing benefits on physical and mental health.

As nurses, we need to practice what we preach and help lead our patients by example.  Why should our patients take better care of themselves both physically and mentally if we are not doing it ourselves?

My Yoga Props Essentials:

Gaiam Yoga Mat 

I love this mat because it doesn’t get slippery once I start getting sweaty during a yoga practice.  It is a thicker, more durable mat with a great chakra design.

Yoga Blocks

Cork yoga blocks are the best.  I love these blocks because they are durable and have a really good grip.  They can assist with alignment and help you get deeper into many yoga poses.

Yoga Bolster

These are amazing for restorative chest opening poses!  I have 2 of these in blue and purple.  I use them all the time to help me wind down after nursing shifts.  I also love using the booster to put my hips and legs up the wall after being on my feet for a twelve hour shift!