Financial Stability: How Travel Nursing Brings Financial Stability

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By Kevin Devoto

April 23, 2022



How Travel Nursing Brings Financial Stability

Financial stability two words every adult loves to hear. It’s hard out there in the working world. Every day you show up to your job, trying to earn a living and hopefully still be able to set money aside for yourself for the future. For some jobs, that’s easier to do than others. Some give you that opportunity, while other jobs make it seem impossible. Travel nursing gives you the former. Whether you’re just starting to figure out your future career plans or looking to do a complete career switch, read below to see how being a travel nurse can bring you your own financial stability.

Income vs. Expenses

There are several factors that go into becoming financially stable, but, in a nutshell, having financial stability means the income you are earning is greater than your expenses and any money going out. Now, of course, earning this amount of income may happen for some weeks or months, but it needs to happen for a steady amount of time in order to have freedom with your finances. Travel nursing does just that. In general, no matter where you decide to travel for work, the pay will be much better for you than simply working and living in one set location. Better pay means a better opportunity for you to pay off any debts you may have. Perhaps you took on student loans to help attain your nursing degree. The sooner you pay both of those off, the sooner you put that money into your savings. Maybe you want a nice little nest egg, or maybe you want to start investing in stocks or rental properties. Whatever you decide to do, that extra income will open a world of possibilities toward increasing your financial stability.

On top of your income being higher than a non-travel nurse’s, your expenses are also less. Now, you may be asking, how is that possible? Well, with some companies, those travel expenses are paid for. Normally it would cost quite a lot for gas or plane tickets or a new apartment every few months, but because companies want and need travel nurses, sometimes those expenses are covered. Some companies even offer a daily budget to pay for food.

Once you add all of that up, it’s easy to see how most of your big expenses would be cut in half or disappear entirely. So, all in all, your expenses would go down while your income is going up. These are the exact things you need in your life to set you up for solid financial stability.

Benefits Are Good

Another thing I want to touch on are the benefits for travel nurses. You don’t have to work hundred-plus-hour weeks or not have a life in order for financial stability to happen. Travel nurses are given many benefits for doing what they do. Health insurance is generally provided. You are in the healthcare field, after all, and while you can shop for your own health insurance if you like, the hiring company usually provides their own insurance option. A 401k and bonuses are included as part of being a travel nurse, with some employers even matching up to a certain amount of your 401k. Time off, as well as an all-around flexible schedule, are also part of the benefits of the job. There are no boring nine to five schedule options you have to suffer through.

Final Thoughts

No matter who you are or what your background is, we all want financial stability. Travel nursing gives a lot of opportunities for that where, unfortunately, not a lot of other jobs do. It is a very rewarding and beneficial option for those looking to feel more stable with their money.

Are you looking for your next travel nurse assignment? Click here to view our job board. Do you need housing for an upcoming assignment? Click here to search our housing page.

If you are a new traveler or looking into becoming a Travel Nurse:

Travel Nurse Guide: Step by Step

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