It’s easy to get caught up in your next assignment, that exciting new town and maybe even a touristy type destination you’ve been dreaming of. But before you buy out that souvenir shop or the trendy boutique next to your new apartment, take a deep breath and think. Traveling is an important part of your career, not a mere vacation. What it does do, is let you feel like you’re on vacation at times—but that doesn’t mean you have an unlimited budget. You don’t want to over spend and toss away those paychecks that you spend hours on your feet to earn. Think about these important ideas to help you stay financially secure for the long run.
1. Avoid Debt
Ok, maybe you can’t eliminate all debt, but you can try to avoid and minimize it whenever possible. Try to use all cash and be sensible about your spending. Making a budget and creating physical envelopes with cash for each specified purpose is a great way to get started. Read more about the cash envelope system here.
2. Choose Credit Cards Wisely
Understandably, there will be times when you want to use credit for purchases. Do your homework and select a card that best meets your needs. Look at these features and always read the fine print: interest rate (promotional, fixed or variable), spending requirements/restrictions, overall credit limit, overall fees and fees for cash advances, reward programs or points that you can easily take advantage of, cash back programs, and penalties. Whenever possible, pay your balance in full to avoid interest charges. Here’s a look at some top-rated credit cards for 2023.
Gone are the days of sitting with a stack of papers and trimming out weekly savings for the grocery store. Many coupon options are electronic, and some are even more sophisticated, such as Groupon (www.groupon.com). Most grocery stores allow you to load a plethora of savings onto your online account and then they are magically deducted at the register during checkout. Be sure to take advantage of BOGO offers and try to be flexible with your brand choices if a generic can suffice for a lot less money. And, don’t forget to join retailers such as CVS and Walgreens for special savings and cash back rewards. Check out some detailed tips here.
4. Eat at Home
We know this one might be tough. Maybe you are single, living in a new exciting city and you just can’t wait to get out and socialize or grab takeout from your favorite sushi joint. There can be a lot of debate over this topic. In general, you can save money of you cook and eat at home compared to dining out or takeout. And, eating in can be healthier. One significant area where you can save is by not tipping and even more if you aren’t buying pricey cocktails. Should you never eat out? Of course not, but understand this is one area where you might be able to really help decrease your spend, so do it wisely. More food for thought: Study: This is how much money you can save by cooking at home.
5. The Coffee Shop
Ok, sit down. We know this can be a tough one. Keep loving your favorite coffee but maybe just love the mocha latte, extra syrup, oat milk, one pump of caramel and extra whip, extra chocolate shavings a little less. You get the point, think about treating yourself to that $7 fancy beverage once a week and the rest of the week stick with a more basic cup of Joe. Better yet, brew it at home just the way you like it and take it in your favorite travel mug. Browse these statistics about U.S. consumer coffee spend here.
Stay on the Go!
Keep traveling, you got this! Just take some time to think about your current and desired financial situation. Plan out where you want to be in six months, a year, five years. Pay attention to your varying costs as you move from assignment to assignment and make lifestyle adjustments as needed. Curious how big that next paycheck could be? Check out the most current openings at Go Healthcare Staffing.
Sarah manages the payroll process for all of Go Healthcare Staffing, and ensures we “show you the money” every time and on time every Friday. She always has a ready smile and a sincere “how can I help” attitude whenever anyone needs her.