Ask A Travel Nurse: Do I need to have a Savings?

Ask A Travel Nurse: Do I need to have a Savings?

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Ask A Travel NurseGypsy,

I’m looking at getting into travel nursing in August but I have very little savings and I am mostly concerned about not having a steady paycheck! Do I need to have a savings before I start? Do you find it difficult to keep your assignments back to back? Have you had a contract cancelled last minute and been stuck “jobless”?

Thank you,
Michelle

Thank you for reading The Gypsy Nurse. You have taken the first step on your journey to become A Gypsy Nurse.

Let’s first address the savings. I always recommend that you have enough in savings to at the very minimum get you back home!! Contracts DO get cancelled (I’ve had it happen) and there can also be issues with ‘pay’. (Know your companies reputation well!). Many of us have traveled without a significant financial buffer but it’s not something that I recommend.

As for a steady paycheck….travel positions are abundant right now, especially if you are flexible on the location. You shouldn’t have any trouble staying employed. (It’s just those unexpected cancellations that you should be prepared for). I’ve personally been traveling for nearly 9 years and by being flexible on location, I’ve never been without a position when I wanted one.

You may want to read through these articles on Contracts.

I love hearing the opinions of my readers.  Your opinion could be the perfect solution for someone.  Please share your thoughts below in the comments.  Do you have a question for me?  Fill out the Ask A Travel Nurse form and submit your questions.


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Founder of thegypsynurse.com I am a nurse entrepreneur TRAVEL and COFFEE ADDICT always seeking the next adventure.

1 COMMENT

  1. I have been lucky and so far have not been cancelled while in route or far from home. I have had weeks between contracts while searching for a position or when . The contracts do not quite meet. The first week is frequently low hours for orientation.
    I travel with at least enough to pay my bills for a month or two in case of emergency.
    If I trip and break my ankle there is no paid time off or sick leave or light duty. You are off until fully functional I have a mortgage to pay..bills..car payment etc. they do not stop if I get hurt or cancelled. It is a bit of a Russian roulette. I will never get rich this way 🙂
    I also end up with money out if pocket for travel..hotels..etc. the travel pay is rarely enough to cover actual expenses.
    I think if you have obligations…you probably need savings.

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