50 Secrets to Maximizing Your Travel Nurse Salary
You work hard for the money, so here are 50 ways to make your paycheck go the extra mile
02/28/2017 | 3 minutes to read
Landing the highest pay rate
- Poll your fellow nurses to find out what specialties and hospitals pay the best.
- Pick a city known for paying its nurses well.
- Upgrade to a high-paying specialty like neonatal, psych, or ortho.
- Investigate the different pay scales from city to city across your desired work state.
- Get a certification that will boost your income.
- Check out overtime rates and choose contracts that fit your bill.
- Find out which hospitals offer primo rates for night shifts.
- Take all the holiday shifts you can.
- Ask your recruiter if any hospitals are offering crisis rates.
- Ask about all types of bonuses you qualify for: sign-on, referral, extensions, etc.
Keeping a gig on the side
- Let your agency know you’re available for per diem shifts.
- If you have a permanent home, rent it out or use Airbnb to help offset some expenses.
- Moonlight as a home health nurse.
- Look into freelance health writing.
- Become an immunization nurse for flu shot season.
- Be a telenurse.
- Work as a medical transcriptionist.
- Do medical coding.
- Find part-time work at a nursing home.
- Be a First Aid Instructor.
Getting the most out of your housing stipend
- Determine how much space you really need and consider downsizing your travel housing.
- Consider an RV or an extended stay hotel.
- Live in a place that costs less than your housing stipend.
- Find another travel nurse at your hospital to be your roommate.
- Pick a state that has lower housing costs, such as Indiana or Kansas.
- Travel to places where you have friends and family with spare rooms.
Maximizing your tax-free income
- When comparing contracts and packages, keep in mind your housing and travel reimbursements are tax-free.
- Make sure you have properly established your tax home.
- You’ll do better financially if you establish a tax home in a place with a lower cost of living.
- If you’re a travel nurse with a tax home in a high-cost area, consider moving.
Saving money on the road
- Check out the tools that will help you plan a road trip on the cheap.
- Ship your stuff early to avoid high-priced shipping fees for waiting until the last minute.
- Get your car checked out and prepped before you leave. It could save you hundreds or more by preventing an expensive emergency that may be looming.
- Clean out your car. Excess weight decreases your miles/gal.
- Get a tire gauge and keep your tires properly inflated -- this maximizes your miles/gal.
- Pack a cooler with snacks and food for the road to avoid overpriced gas station grub.
- Use cruise control when you can -- this too improves fuel efficiency.
- Find cheaper alternatives to hotels.
Budgeting wisely
- Use online budget tools to stay on track with your spending.
- Clip coupons: paper or digital.
- Join a skillshare and get your yard work done in exchange for CPR lessons.
- Shop in the bulk section or at club stores like Costco and Sam’s Club.
- Say no to big ticket items that are outside your budget.
- Look at the smaller ticket luxuries (that daily latte) you can cut back or live without.
- Consider a carpool or rideshare.
- Take advantage of public transit when you can -- a round trip could cost you far less than gas and an hourly parking fee.
- Live somewhere that’s walking distance to work, the grocery store, or other stores you frequent to save on fuel and parking.
- Bonus: Walking/taking public transit will limit your purchasing because you can only carry so much. Extra bonus: We know you’re on your feet all day, but you get to be outside in the fresh air and away from the hospital smells.
- Use Groupon, Living Social, and other similar offers to save on fun and food. (Bonus: These are great ways to investigate a new place and meet people with similar interests.)
- Two words: thrift stores. Don’t have time to hunt for bargains? Consider online thrift shops like thredUP.