Beginner’s Guide to Budgeting for Travel Nurses
Travel Nurses are the professionals who provide medical care for travelers. They start their career with a minimum of 150 hours of training in a clinical setting, followed by the completion of an additional 24 semester-hours from an accredited nursing school.
Nurses travel because they want to provide care in different countries and meet diverse people. Even though they are often required to have a degree and practical experience, nurses have plenty of other options as well.
Travel nurses work on a contract basis, which makes them some of the highest paid travel professionals around. Working as a travel nurse can be rewarding for many reasons, but it does not come without challenges. One such challenge is budgeting. It can be difficult to figure out from the start how much money will be required for your trip and what you should do to manage costs.
To help with budgeting, consider the following things when deciding how much money you need:
Breaking down your budget
As a travel nurse, you are responsible for your own budget. And as you travel from one place to another, you should have a clear plan in order to stay on track with your cash. This can be done by breaking down your budget into manageable categories.
One of the most important things for any traveler is obtaining “long-term” lodging and transportation costs. These two expenses account for about 70% of your total budget. Aside from this, food and misc expenses make up the remaining 30%.
Ensure that every expense is divided if it takes more than one day to complete – including flights and parking fees.
Utilize the 50/30/20 Rule
The 50/30/20 rule is a budgeting technique created by American Express Travel Services to help travelers make their travel plans. It helps those in the travel industry and parents of young children in their planning.
To utilize this rule, you have to have a particular number of days for your trip, the amount you plan to spend on your travels, and your budget. You also need to know how many credit cards you’ll be bringing with you on your trip and what currencies they will be accepted in.
By implementing this technique, travelers can better determine how much value they will get out of traveling in a certain location or area so that they can budget accordingly.
Meal Prep
A meal prep is a very useful and convenient way to keep your food fresh in the refrigerator. It is also an effective way of following a budget for travel nurses who cannot afford to spend money on dining out.
A meal prep typically consists of pre-made dishes that are easy to transport and eat, such as salads, vegetable dishes, pasta, chicken etc. You can make different meals depending on your personal preferences and dietary needs.
Set Savings Goals
When setting your initial savings goals, set an accomplishment milestone that’s within reach for you to accomplish by the end of the year. If you save $3000 by the end of the year, then you can contribute another $1000 to your savings at the beginning of next year. This will give you time to save as much as possible and will help increase your momentum toward reaching a larger goal!
Find Coupons
The most important thing to remember when you’re looking for a coupon or deals is that the best way to find them is to be aware and constantly on the lookout.
Many people use coupons as they find it easier than searching different websites manually. They also often search in their phone’s browser or apps. But sometimes, doing thorough research can lead people to great deals.
How do we find coupons?
– Search your app on a regular basis
– Look for sales ads
– Search through ads by category (i.e., beauty, health, home care)
Conclusion
When traveling nurses start their jobs, they are likely to have a budget in mind. However, this typically doesn’t go far and is not accurate. This can lead to them coming up short on necessary funds and cutting back on the things they enjoy while traveling. So they need to follow the above-mentioned tips to live their life to the fullest.
