If you are fairly savvy with your money, then you will approach nursing school like any other long-term plan. Attending an accredited nursing school is going to cost money, and it is going to take time to reach the point of graduating. You may need to cut back on your work hours to make time for class, while the financial pressure of school actually requires some students to work even more. If you have money in your savings account, then you don’t want nursing school to lead to you going broke. Find smart ways to earn more money, save more money, and lead a comfortable existence, all while furthering your education.
Do an Audit on Your Finances Before Classes Begin
Everyone has some spending habits that could use some improvement. Even if you consider yourself to be quite frugal, there are likely still areas of your finances that would benefit from a massive overhaul. For instance, you can keep any money you have saved in your savings account, but have you thought about how else you can grow that money? There are investment accounts, CDs, IRA, and even stocks, bonds, and other investment vehicles that are highly recommended for growth. When you do an audit on your finances, minor yet potentially costly errors can be revealed. Find out whether you are spending too much on coffee, learn if you are saving and investing your money properly, and simply get the most out of your hard-earned cash reserves.
Make Some Extra Money While Attending School
When people attend nursing school, they realize that they need to focus on their studies in order to really absorb what they are being taught. For some, becoming a nurse means that they only work on the weekends or during school breaks. People formerly in full-time corporate positions may choose to work as dog walkers or pet sitters because of the freedom of scheduling. At the same time, there are also plenty of folk who manage to take on even more responsibilities and paying gigs while attending nursing school. Compare the ways that you can earn more while in school to help manage your money better.
Move In with Family or Friends
Those who save the most are always finding new ways to cut down their expenses. Shopping at thrift stores is a fine way to keep costs down on clothes, accessories, and household goods. Selling your car and opting to download a ridesharing app can also be a tremendous help when your main goal is to get through nursing school without being distracted by money woes. If you look at your main monthly expenditures, it is very likely that housing is your biggest expense. While a lot of people pride themselves on living independently, you really do have to consider the big picture. There are online accelerated BSN nursing programs that were developed to help students get their degrees faster. There are also other nursing school programs that take place year-round, during all three semesters, so students can get into the workforce faster. Consider moving in with a family member or friend, another means of accelerating your educational path, while also giving you a chance to save and earn more cash.
Learn How to Adapt Your Spending Habits
Pretty much every student over the history of time has learned to do more with a lot less. Whether you learn how to survive on rice and beans, or start wearing extra layers in the winter to keep the heating bill down, you have got to adapt your spending and saving habits. The good news is that as a student, you really won’t have the same amount of time you did as before. Therefore, you won’t be tempted to spend money on non-necessities. Curb your spending habits and face a future where you’ll end up still having money in the bank upon graduation.
Look for Industry Specific Money-Making Opportunities
Pretty much as soon as you gain some experience as a nursing school student, you will be astounded at all the things you learn about the human body, the healthcare industry, and best practices in the healthcare field. While not yet degreed or licensed, nursing school students can look for jobs, gigs, and various money-making opportunities that are tailored toward members of the medical field. For example, you might want to start participating in research panels and focus groups for healthcare professionals. Positions in doctors‘ and dentists’ offices might become more appealing. Even parents looking for people to work as nannies or babysitters could be more lucrative, as you will become trained in CPR and other life-saving techniques.
Buy What You Need for Your Career Ahead of Time
If you are looking forward to finishing your nursing school program so that you get to buy some of those snazzy hospital scrubs, you should know that you actually don’t need to wait. Just wait until there is a really good sale on nursing scrubs, then stock up while you are still in school. You’ll need them anyway if you are going to school in-person, and it won’t hurt to have built up a good cache of work clothes in the interim. The travel coffee mug that you fill up just before class will also come in handy when you are preparing to go to work in the future.
When you manage your time and painstakingly create a plan for the future, it becomes possible to actually increase your financial resources while attending nursing school. Of course, this is not the type of task that can be described as being easy or even typical. You will need to remain as dedicated to your finances as you are your education. You won’t be able to splurge very often, and you will need to stay on a very rigorous schedule. The good news is that you won’t worry about how you are going to pay your tuition or be concerned about how you are going to pay your monthly bills while working towards earning a degree in nursing.