Author Topic: Young, Nursey, and Getting Burnt Out - A Case Study.  (Read 11958 times)

QuirkyNurse

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Young, Nursey, and Getting Burnt Out - A Case Study.
« on: March 03, 2015, 04:40:11 PM »
Background

I graduated with my BSN, RN, and $27,000 of student debt in Dec 2013.

I live on my own in a one-bedroom that is fairly inexpensive for the area (average rent is about $1300 here), and have cut out internet, television, gym memberships, fancy lattes, shopping for shoppings sake, and as much driving as possible. I cook almost every meal, and pack a lunch daily. I cut my own hair, only get library books, and wash my clothing at the laundromat once a month.

I live eight miles from work, and bike commute when the weather is nicer (A road bike doesnít cut it in negative degree temperatures and several inches of snow.) I foolishly leased a car (three year lease) when my old one died for good. However, I work in emergent surgery and canít risk an unreliable car when they need me in the middle of the night.

Income

$55k pre-tax, and overtime in varying amount. Take home pay is rough $1500 bi-weekly, sometimes $1800 when I snag overtime. There is almost always on-call shifts and overtime to be picked up, so I could certainly hustle more on the weekends.

Expenses

Rent: $725
Tithe: $460-500 (Tithe is based off of my gross. This is a non-negotiable expense)
Lease Payment: $278/mo
Car Insurance: $165/mo
Utilities: $35
Phone: $110
Groceries: $200
Eating Out: $150
Gas: $45
Misc. (Gifts, Projects, Fees, Clothes) $250
Total: 2418

Student Loans: $500-1000 and any windfalls. I put this separate because after the bills are paid, I put darn near everything I have left towards this to knock it out.

Assets

$4000 in checkings/savings
401k has around $2000 in it, but Iím not sure. My company matches double whatever I put in up to the first 5%, after I have worked here a year. Phew, thatís a mouthful. 5% of my gross is deducted from every paycheck.

Liabilities

Student Loan: $15,000 @ 7.6%

Questions:

Basically what can I do better? I deserve many face punches for the 2014 Honda Civic Lease, but Iím stuck with that for two more years. My car insurance is high because Iím a 22y/o with full-coverage, although itís coming down because Iím a safe and low-mileage driver. I could find a cheaper apartment with a roommate, but my schedule encompasses all 24 hours of the day and makes me hard to live with, and frankly, I hate having a roommate.

I know I could cut back on my Eating Out and Misc categories, but Iím bored to tears. Iím tired of staying home and not doing anything for the sake of paying off loans and being financially independent. Iíve never gone on a vacation, I rarely drive more than my commute, I stay in more than I go out, and itís starting to wear down my resolve to stick with this when all I have to look forward to is another weekend on the couch eating rice alone.

So, how can I fix some of my wrongs, pay off more debt, but not get burnt out? I know I would be even less happy if I embraced a spendy-pants lifestyle, but it seems like Iím missing out on life right now. Help, Mustachian People!

Elliot

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #1 on: March 03, 2015, 04:49:12 PM »
Is that phone expense just you? If so, that could be reduced by cutting data some. You're doing pretty well for 22 and sometimes starting out just sucks. I think once spring comes you'll be less restless and you'll be able to get out of the funk.

Unless you mean you feel burned out as a nurse, which is a different ballgame. If that's the case, feel free to PM me and we can chat nursing.

Bracken_Joy

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #2 on: March 03, 2015, 04:49:20 PM »
In terms of the budget, the only main one that jumped out was the phone bill being really high. I'm more concerned about you feeling stuck/like you're trading your life for FI. Are you using the dining out as a way to socialize (ie, you do it with friends) or as a personal comfort activity? I find that if I'm going to restaurants a lot alone, it's because I want social contact, so I'm surrounding myself with people. If I make a concentrated effort to see people and spend time with them, this can help a lot. In my mind, dining out should be like alcohol- use it to celebrate, not commiserate. Have it enhance your life, not be a crutch.

I 100% don't blame you for not wanting a roommate if you work a rotating schedule. No amount of money (basically, lol) could have made me live with someone when I worked nights!

Actually, looking over it again, your Misc category seems pretty high (10% of your overall budget) so make an effort to tease that out more and see where your "leaks" are.

Are there terms for breaking a car lease, like an apartment lease? I'm not familiar with them, but it seems like it could be cheaper to break a lease than keep paying that much per month.

MLKnits

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #3 on: March 03, 2015, 04:57:09 PM »
Can you have your friends over to eat, or just to have a couple of beers, instead of going out?

Have you looked into activities you might enjoy that are lower-cost? Even in small cities, there's usually a ton of free-to-cheap stuff going on, especially weekends.

You have a bike, a library, and a brain--there's no reason to stay in just to save money! As you're already experiencing, experiential deprivation will just make you want to drop some cash for the instant dopamine hit, or whatever it is that makes spending feel nice for an hour before the regret hits ;)

I'd say definitely get out of your apartment. Volunteer at an animal shelter, walk to your nearest park, check out the YMCA, join a book group (the library probably has one), just bike around the city and explore new neighbourhoods.

I'd be cautious that you don't let your boredom convince you that frugality is why you're bored. Being BORED is why you're bored! Find a hobby, make a friend, check out some Meetup.com groups--there's so much to do that isn't dinner & drinks on the town.

Catbert

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #4 on: March 03, 2015, 05:02:54 PM »
Hey, don't feel too discouraged.  You're really doing better than most 22 year olds! 

See if there is a way to get out of the car lease.  Whether or not there is start figuring out what you going to do when the lease is over.  You don't want to get stuck into another lease or buying a new car because you didn't figure it out ahead of time.  Put money aside as necessary.

You seem to be doing well with your SLs - they should be gone within 2 years at the rate you're going.  Really not bad at all!  Just keep plugging. Once your SLs and car lease are done you'll be in great shape to save more and still have some inexpensive fun.   

Can you get more involved in your church?  Do they have activities for adults your age?  Or maybe find another church (same religion, just different parish/stake/whatever they call it in your religion) that has more activities for young singles.   

Murse

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #5 on: March 03, 2015, 05:21:17 PM »
Is that phone expense just you? If so, that could be reduced by cutting data some. You're doing pretty well for 22 and sometimes starting out just sucks. I think once spring comes you'll be less restless and you'll be able to get out of the funk.

Unless you mean you feel burned out as a nurse, which is a different ballgame. If that's the case, feel free to PM me and we can chat nursing.
+1, the biggest thing is are you feeling burnt out as a nurse. If you are, the great thing about nursing is there are 100 different things you could do.

Bracken_Joy

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #6 on: March 03, 2015, 05:24:09 PM »
I'd be cautious that you don't let your boredom convince you that frugality is why you're bored. Being BORED is why you're bored! Find a hobby, make a friend, check out some Meetup.com groups--there's so much to do that isn't dinner & drinks on the town.

This is a mistake I have made over and over in my life. "This relationship is why I'm bored" "This job is why I'm bored" etc. NO. Being bored is why I was bored! I realized I have to go against my natural inclination to immerse myself deeply in one thing at a time, or I undergo massive upheaval once I'm bored of that one thing. Instead, having many different hobbies and interests helps keep me balanced and engaged.

southern granny

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #7 on: March 03, 2015, 05:24:26 PM »
You look pretty good.  You are knocking down the student loan pretty quickly.  The phone bill can definitely be reduced, and maybe the misc category.  As soon as the student loan is paid off you will start building up the savings.  Not many people your age have your determination. Re: boredom.. consider joining a  charitable cause.  We volunteer at a soup kitchen once a week and have developed a good rapport with the other regular volunteers.  It is hard work, but we actually enjoy it.   

MrsPete

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #8 on: March 03, 2015, 07:19:12 PM »
I think the biggest thing is, You're only two years out of school.  It's tough to start out on your own.  You've been working long enough for the glow of those first paychecks to have dimmed a bit.  You're far enough down the career path to have fully grasped that everyday isn't grateful patients and seeing a genuine difference as you care for people, but the long-term financial goals you want -- savings, house, security -- still seem a long way off.  This is all youth. 

You're doing better than most 22 year olds.  Once you pay off that student loan (and while I think all loans are a bit foolish, yours isn't bad compared to your salary), you're going to see a BIG increase in your monthly income.  When we were your age, my husband's first boss told us that the first $100,000 is hard to save, but once you have that, things start rolling in fast -- it was true for us.  Financially, you're on a decent path; you just have to stay the course.

As for the car lease, well, you're in it.  Call it a stupid tax and move on.  Pay it for two more years, but as the time draws to an end, research better choices.  While you did make a less-than-stellar choice in leasing, it's nowhere near a make-or-break thing for your lifetime. 

I don't quite get the "I don't like roomates" thing.  Maybe I just fell into great roommates, but I always enjoyed them, and they do make life cheaper.  Would you still hate a roommate if you had a place with bedrooms that're on opposite sides of the apartment, and that person understood you have to sleep during the day sometimes? 

As for the going out with friends and spending too much, could you order an appetizer instead of a full meal?  And drink less than you usually do -- perhaps just one alcoholic drink, and then a water?  If you don't want to 'fess up to it being a frugal thing, you can always say you're trying to drink more water, which rings true because most of us should be doing that. 

You say you've cut out this and that . . . with what have you replaced them?  Let's say shopping as a hobby used to consume your Saturday afternoons, and now you've cut that out.  Now your Saturday afternoons are empty, and unless you add in something new, you're going to have a bit of a hole in your life.  Maybe if you've dropped the gym, could you add in the yoga classes at your church on Tuesday nights?  Or running, which is free except for quality shoes.  If you've cut out lattes, learn to make them at home. 

Which leads to the boredom comments . . . I agree with the poster who says it's never really where you live, or your job, or your age, or whatever else.  If you're bored, you need to infuse something new into your life.  Join a group of some type.  Take a class in something FUN; I've been dying to learn how to make stained glass.  Volunteer.  Do something, something that doesn't revolve around consuming /spending.  I can't tell you when I last felt bored.  You may feel this way because in school your time was completely planned for you -- study, study, study, go to nursing clinicals, study some more, work, work.  It's easy to lose your passions and hobbies when you're SO BUSY in college, but now it's time to search them out again. 

What you need to avoid is frugal burnout.  Be sure your budget is realistic.  Allow yourself reasonable treats occasionally.  Keep records of the bigger, long-term picture as motivation. 

« Last Edit: March 03, 2015, 07:21:54 PM by MrsPete »

MrsPete

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #9 on: March 03, 2015, 07:25:27 PM »
I'd be cautious that you don't let your boredom convince you that frugality is why you're bored. Being BORED is why you're bored! Find a hobby, make a friend, check out some Meetup.com groups--there's so much to do that isn't dinner & drinks on the town.

This is a mistake I have made over and over in my life. "This relationship is why I'm bored" "This job is why I'm bored" etc. NO. Being bored is why I was bored! I realized I have to go against my natural inclination to immerse myself deeply in one thing at a time, or I undergo massive upheaval once I'm bored of that one thing. Instead, having many different hobbies and interests helps keep me balanced and engaged.
I agree with what you're saying, and I 'll add this:  We should all seek to avoid this problem's first-cousin, "I'll be happy when ____." 

Examples:
I'll be happy once my student loans are paid off.
I'll be happy once I get a raise.
I'll be happy once I am engaged /married /have a baby.
I'll be happy once I finish my probationary period at work and am a full-fledged employee.
I'll be happy once I get into a house of my own.

The truth:  If you're not happy with yourself (on a long-term basis -- I mean, if you just got a speeding ticket this afternoon, you probably have reason to be unhappy with yourself right this minute, while you're writing out the check for your fine) . . . but if you're not happy with yourself, it's not about your circumstances.  It comes from within. 

waltworks

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #10 on: March 03, 2015, 11:09:35 PM »
Financially, you are doing fine.

It sounds like your problem is figuring out how to enjoy your life. Honestly, if scrimping/saving is making you miserable - save a little less. Go out with your friends. I mean, I don't think you should run up a ton of credit card debt or anything stupid like that, but the whole goal of frugality is to be able to enjoy your life. No amount of money in the bank will give you back your nights of loneliness/boredom, so if spending some money will *truly* make you happy, spend some damn money.

Life is not a race to retire by 30 so you can humblebrag about it online, as much as it might seem like it around here.

It might also be that you need some hobbies and/or friends who like to do stuff that is cheap. Go try some random stuff (seriously, just pick some activities at random that don't cost much/anything and are social and go do them - most outdoor activities will qualify). Experiment. Don't be afraid to quit an activity if you don't care for it.

-W

Chrissy

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #11 on: March 04, 2015, 08:08:26 AM »
Can you refinance the student loans to a lower rate?  You'll catch up to them quicker if they're not running away as fast!

tlars699

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #12 on: March 04, 2015, 10:03:22 AM »
I noticed a lot of comments about volunteering at Church, but there's more than that, too:

Check out your local Red Cross and see what you can volunteer there- they are always looking for people to volunteer to run blood drives, and with your background, you just may be a shoe-in as a Blood Drive leader candidate.

Local Elderly Communities- you can volunteer to help organize a Cards/Games night for the elderly folks in your area.

School Board- Okay so you don't have kids, yet. However, the meetings are open to the community and you can volunteer your services for CPR training, etc.

Library- I used to organize an annual Harry Potter night for the kids at my local library back in high school. If I could, I'm sure they'd love to have help like that from you.

As for non- volunteer things: Book Clubs, Quilting Clubs, Gardening Clubs- find something you like to do- you can either join a club, or start one! :D

Bicycle_B

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #13 on: March 04, 2015, 10:34:09 AM »
Re the phone:  Check out the phone post in the "MMM Recommends" section.  Its link to Daley's Superguide could probably help you cut 80% or more off what you pay.

Re the car:  Agree with all comments about there's probably a way to cut the lease.  In any case, the lease will end. Get prices for the car you want to replace it with (MMM's "10 Car" post is helpful; default choice, used Honda Fit) and budget to buy that in cash when appropriate.

Re dining out:  Agree with all comments about "find something else instead" most of the time.  Be the leader - find free things to do, then invite friends to them!  Tell them to bring more friends, maybe you'll meet new people too.

You have commitment (tithe! nursing degree! job!) already.  Give the rest time, you are in the midst of a great life. 

PS.  A friend who is a world class violinist told me she eventually recognized her periods of boredom with her life as preludes to the best things ever.  She always got bored after she mastered what she had done already.  By persisting, she pushed into a glorious new zone of growth...after a while. 
 

iamsoners

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #14 on: March 04, 2015, 11:12:46 AM »
Just want to echo what other people have said here, you are doing a great job! You've optimized a lot of things, think of relationships/friendships/not-being-bored as the next thing you are out to optimize in this great life!

mm1970

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #15 on: March 04, 2015, 11:29:04 AM »
Lots of good tips already, including this one:

Quote
I don't quite get the "I don't like roomates" thing.  Maybe I just fell into great roommates, but I always enjoyed them, and they do make life cheaper.  Would you still hate a roommate if you had a place with bedrooms that're on opposite sides of the apartment, and that person understood you have to sleep during the day sometimes? 

Can you volunteer at church?  I'm going to admit flat out when I see a non-negotiable "tithe" I cringe.  Completely makes me think "cult".

However, for example, I have a few friends who are Mormon, and they tithe.  I've met a few others around town.  They are all incredibly nice people, always volunteering in the community, very big on developing a sense of community. I totally love how they "walk the walk".  So, if you are tithing that much money to a church, I'd imagine that there has to be some sort of community there to get involved in.

It's hard when you are 22 to find things to do that are cheap.  Not because it's hard, but because it's hard to find like-minded people.  When I was 22, I was in the Navy.  Those first few years, I played a ton of volleyball (cost $), went to grad school at night (free), and basically ate out most meals.  However, there WERE cheaper things to do and cheaper people to hang out with (like the couple who had 3 kids by age 23).

waltworks

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #16 on: March 04, 2015, 11:47:53 AM »
OP is most likely LDS, which has plenty of problems but isn't very cult-like at all, actually. It is much more like a business than a religion, at least here in UT (simply walk downtown and compare the sizes of the adjacent LDS-owned temple, office building, and shopping mall and you'll see immediately).

I tend to think poorly of religions that won't accept donations of time/effort in lieu of money as well but OP stated it's non-negotiable so she will have to accept that the tithe will set back retirement by a long, long time.

-W

Can you volunteer at church?  I'm going to admit flat out when I see a non-negotiable "tithe" I cringe.  Completely makes me think "cult".

RexualChocolate

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #17 on: March 04, 2015, 12:18:33 PM »
10% of your gross income directly to an organization is a massive commitment. Not necessarily an incorrect choice but completely antithetical to this board.

As for being bored, you're 22 making over 55k a year with low debt and controlled expenses . It's the most social and most fun time of your life. You have a job, you are finally completely in control of your life. No one can tell you what to do anymore, the world is wide open and you have the means to take whatever it has to offer.

I'd slow up on the savings and live a little. Go out. There's plenty of room in your budget for discretionary fun spending. $50 a weekend($2600 a year, more importantly approx 5% of your gross) will make a material difference to FI date but not as bad as burning out on a frugal lifestyle at this stage. It doesn't have to be a sprint, it can be a marathon.

CU Tiger

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #18 on: March 04, 2015, 12:22:36 PM »
Questions:

Basically what can I do better? I deserve many face punches for the 2014 Honda Civic Lease, but Iím stuck with that for two more years. My car insurance is high because Iím a 22y/o with full-coverage, although itís coming down because Iím a safe and low-mileage driver. I could find a cheaper apartment with a roommate, but my schedule encompasses all 24 hours of the day and makes me hard to live with, and frankly, I hate having a roommate.

I lived alone too, because I liked it. I am super social, but want to have my own space organized the way I like it. Itís the hardest part about being married, learning to live with my husband! I was single and lived alone for 10 years, and have now been married for almost 18 years, and still sometimes remember fondly my years of living alone in tiny apartments.

I know I could cut back on my Eating Out and Misc categories, but Iím bored to tears.

Where do you live? I mean generally Ė city, country, suburbs? If you can give me a town or city or even region, it would help.

When I moved from the South to the mid-Atlantic, I was so poor. I made $18,000/year and spent most of that on a too-expensive apartment. I became an expert on cheap entertainment.

First, you have to get some friends who are not too spendy. I found mine, who were mostly graduate students at a large university, at a church right across the street from the school. I was not a student thereÖbut there were lots of people my age there. We did a lot of fun things that cost very little money, because no one HAD any money. We had potluck lunches and dinners a couple of times a week. The host or hostess provided the main, everyone else contributed salads, vegetables, desserts, beer/wine, etc. Often the evenings turned into game nights, or we just sat and talked. We went out to bars for happy hour sometimesÖthree or four hours of good conversation and fun could be had for the price of 1 or 2 pitchers of beer at happy hour prices. Because we live in a city, there are often free/low cost things to do. Also the university often has cheap/free movies, concerts, shows, etc. I got the City Paper every week and looked for things like gallery openings (free wine, cheese, and art), free lectures, free nights at the museums (First Thursdays).

I found that the important thing was to have friends to do things with. One friend I made shared my love of foreign films. We got together several times a month to rent a French film. We split the rental, and the cost of some cheap Chinese food, and enjoy French film/Chinese food night. Your movies could come free from the libraryÖ

Do you do any sports? Even walking? Could you join a club that goes on hikes? How about training for a 5K? You could get healthier and meet some people who share an interest?

The first two years I was here, I also got a second job on the weekends. I worked at a card shop to get extra cash. Instead of working OT, which is more of the same as your work week, are there other types of jobs you could do that might help you meet folks?

Another thing that helped was finding some hobbies that I could do with people or alone. I took up knitting (took a few classes) and found out that it was fun to do while watching movies or listening to the radio, plus I joined some knitting get-together groups. I learned to quilt and joined a quilting guild. For $30 per year I get to go to 10 meetings hear speakers, learn stuff, and have fun. I joined a mini group of other quilters, which costs me nothing, but has helped me get to know a small group of women very well. I took on a volunteer job with the guild, and thatís also helped me know people better.

I think others are correct, you arenít bored because you are trying to live frugally, but you are bored because you arenít doing interesting things. Make some friends. Do things with them. Develop some hobbies you love and find interesting.

Is there any chance that you are mildly depressed or dysthemic (is that a word?). You know, not DEPRESSED, but in a permanent funk? If so, Iíd see a doctor and see if all is well, as far as Vitamin D, the B vitamins, thyroid, etc.

iamsoners

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #19 on: March 04, 2015, 12:39:45 PM »
10% of your gross income directly to an organization is a massive commitment. Not necessarily an incorrect choice but completely antithetical to this board.

I couldn't disagree more with your statement that tithing is antithetical to this board or the mustachian way of life.  Two thoughts:

-A regular practice of giving away money teaches one to devalue the amount of power our society has given to the role of money. By freely giving you are recognizing that money is a tool to achieve certain things rather than imbuing it with hopes of fame, fortune, power, comfort, etc. that have so deluded our society. I don't think mustachianism is purely a formula for attaining comfort, fortune, etc. faster but is a philosophy that also teaches contentment. Granted, you can find this sort of contentment without giving money away but I have found that being in the practice of giving money away is one of the most freeing ways of attaining contentment.

-Automatically giving 10% of ones paycheck away is a form of lifestyle reduction. How that's not mustachian I don't know...

Overall, I view the mustachian lifestyle as one of finding outrageous joy and contentment with far less than what society says that you need. If anything, giving money away compliments such a lifestyle rather than destroying it.

TXScout2

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #20 on: March 04, 2015, 01:04:47 PM »
Refinance the student loan.  If your annual income is 3x the amount of your debt, you can get lower than 7.6%  Won't save you a ton (maybe $40/month) but at least you will feel like you did something. 

If you are burnt out from nursing, but want more money, maybe try a different job?  If you live near a city, put that leased Honda Civic to use and drive for Uber or Lyft.  No set schedule, you can do a little socializing with your passengers (sounds better than eating rice on a couch anyway), and at least where I live, they guarantee $35/hour (sometimes more) during peak hours.  If you are barely driving now, you have 12k (or whatever) miles/year to use that you paid for with the lease.  You could probably make an extra $100/week by just turning on your Uber app when you're bored on the couch.

Refinance + Uber = $440/month. 

RexualChocolate

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #21 on: March 04, 2015, 01:09:24 PM »
Spending 10% of your gross(so say 30% of your discretionary income?) on any one expense is insane from a Mustachian standpoint. You can spin it how you want, but its antithetical to the path of Financial Independence especially for someone with tax advantaged space and debt.

Not saying its an incorrect lifestyle choice, but certainly one that should be considered rationally instead of "well my parents did it."

Bracken_Joy

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #22 on: March 04, 2015, 01:26:29 PM »
Refinance the student loan.  If your annual income is 3x the amount of your debt, you can get lower than 7.6%  Won't save you a ton (maybe $40/month) but at least you will feel like you did something. 

If you are burnt out from nursing, but want more money, maybe try a different job?  If you live near a city, put that leased Honda Civic to use and drive for Uber or Lyft.  No set schedule, you can do a little socializing with your passengers (sounds better than eating rice on a couch anyway), and at least where I live, they guarantee $35/hour (sometimes more) during peak hours.  If you are barely driving now, you have 12k (or whatever) miles/year to use that you paid for with the lease.  You could probably make an extra $100/week by just turning on your Uber app when you're bored on the couch.

Refinance + Uber = $440/month.

As a young woman, I would 100% not feel safe doing that. Just my 2 cents, OP might feel differently.

dunhamjr

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #23 on: March 04, 2015, 01:56:16 PM »
-Automatically giving 10% of ones paycheck away is a form of lifestyle reduction. How that's not mustachian I don't know...

if that's how you feel, go ahead and feel free to send $500/mo my direction.
you know.  so that you can enjoy that forced lifestyle reduction, without any real monetary benefit for yourself.

:D

j/k

the problem is that being mustashcian isn't just about living on less money.  if it were, then there would be no talk of early retirement, investing, trying to increase one's income...etc.

QuirkyNurse

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #24 on: March 04, 2015, 03:36:06 PM »
Wow! I was not expecting such a response. You all are really quite wonderful.

@Elliot I'm not burnt out on nursing at all - I love my job and wish they would let me work more overtime or work longer shifts. I am incredibly fulfilled by my job and what I do. I love being a nurse, which is probably why I mention it far more than I actually need too.

I've looked into Republic Wireless - I'm pretty sure I'm going to switch over to that, and see if I can sell my iPhone, but do you know if the internet is fast and reliable? I don't have internet at home, and use my phone for it instead.

@MrsPete thank you for all the gentle facepunches. I'm feeling sorry for myself and needed that more than I care to admit. College vs. Real Life is such a dramatic shift, and I think rather than adjust, I've taken to trying to make work resemble what college was. I'm terribly guilty of the "I'll be happy when...." I need to go back and read all the optimism posts!

@Waltworks Hahaha, "humblebrag". What a great term!

@mm1970, @rexualchocolate, I choose to tithe because I want to, not because anyone is forcing me to :) I think I've been incredibly blessed with the opportunity to go to college and have a steady job, and I since I have to ability to help those less fortunate than I, I don't see why I wouldn't, even if it means I may not retire as early as I would like, or pay off my debts as soon. We make the community that we live in.

How does one go about getting out of a car lease?


mm1970

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #25 on: March 04, 2015, 03:53:15 PM »
Quote
@mm1970, @rexualchocolate, I choose to tithe because I want to, not because anyone is forcing me to :) I think I've been incredibly blessed with the opportunity to go to college and have a steady job, and I since I have to ability to help those less fortunate than I, I don't see why I wouldn't, even if it means I may not retire as early as I would like, or pay off my debts as soon. We make the community that we live in.

I'm just saying that you must have a community that comes along with the tithing, which would avoid boredom?  Don't know any specifics, but for example, the big tithers that I know are all Mormon/ LDS, and they all have very close-knit communities of activities, volunteer opportunities, etc.

RexualChocolate

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #26 on: March 05, 2015, 06:52:02 AM »
I'm just saying that you must have a community that comes along with the tithing, which would avoid boredom?  Don't know any specifics, but for example, the big tithers that I know are all Mormon/ LDS, and they all have very close-knit communities of activities, volunteer opportunities, etc.

Yea, totally agree. If 30% of my discretionary income was leaving me bored, I'd be finding a new charitable endeavor for my time and money.

Thegoblinchief

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #27 on: March 05, 2015, 06:54:50 AM »
Can you refinance the student loans to a lower rate?  You'll catch up to them quicker if they're not running away as fast!

+1 As long as you do it while the loan balance is over $10K, refinancing through SoFi is a very smooth process. We went from 6.5 to 4.1 (and under 4 with the auto pay discount). PM me or ask many other Mustachians for their referral code to save $100.

Otherwise, LIVE. There are so many things to do with your time. Follow your interests.

terran

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #28 on: March 05, 2015, 07:30:46 AM »
I've looked into Republic Wireless - I'm pretty sure I'm going to switch over to that, and see if I can sell my iPhone, but do you know if the internet is fast and reliable? I don't have internet at home, and use my phone for it instead.

You may want to reconsider this. My understanding of Republic is that their intention is actually for you to mostly NOT use their network, but actually use your home/work wifi for most things including phone calls. I don't know what the consequences are if you don't and use their network more than they think is appropriate, but you may want to look into this.

stlbrah

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #29 on: March 05, 2015, 02:25:26 PM »
get into working out

Then when your friends who mostly just eat out and drink for fun are all 185lbs in a few years, and your 50-70lbs lighter than them and your loans are paid off faster, you'll be set!

oldfierm

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #30 on: March 06, 2015, 08:41:30 AM »
I've looked into Republic Wireless - I'm pretty sure I'm going to switch over to that, and see if I can sell my iPhone, but do you know if the internet is fast and reliable? I don't have internet at home, and use my phone for it instead.

You may want to reconsider this. My understanding of Republic is that their intention is actually for you to mostly NOT use their network, but actually use your home/work wifi for most things including phone calls. I don't know what the consequences are if you don't and use their network more than they think is appropriate, but you may want to look into this.

Yes, I noticed you said you don't have internet at home.  You work a lot and probably aren't there much.  I get the impression that those with the less expensive phone plans rely on wifi for a lot of their phone data use (I know I do).  So you really need to look at where/when you are using the internet.  If you tend to use it somewhere that wifi is available, maybe you can switch to a cheaper plan and not pay so much for data.  If you tend to use it where wifi is not available, then a low-cost wireless carrier/lower data plan may not save you any money or will just be super annoying because you will always run out of data.

If you mostly use your phone while at home, it might STILL be cheaper sign up for internet at your house, cancel the cell phone service you have now, sell your iphone, and then go to a low cost carrier and connect to your home wifi when surfing the internet. 

Also, I know it is frustrating the first few years.  In my case I felt like I was NEVER going to be in the black.  But as you get raises, move up, things get way easier.  Just avoid life style inflation and you will be good to go!

mm1970

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #31 on: March 06, 2015, 02:56:13 PM »
get into working out

Then when your friends who mostly just eat out and drink for fun are all 185lbs in a few years, and your 50-70lbs lighter than them and your loans are paid off faster, you'll be set!
Wow. Funny.  At 29-31 years old I was 182 lbs.  That hit close to home.

Elliot

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #32 on: March 07, 2015, 08:36:17 AM »
I personally have not switched to Republic. I am on Verizon, with two smartphones (unlimited talk and text, 2GB data shared between the lines). Our total plan cost is 114/mo.

BWholehearted

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #33 on: March 10, 2015, 12:53:44 PM »
Sounds like most of the responses have you covered.  If tithing is how YOU value spending your money then do it, it is not in opposition to mustachianism, we all have different priorities.

Find a cheap hobby, go hiking, go car camping, go to clubs with free entertainment and only have one drink. 

Also, give yourself a break!  I am three months away from graduating from nursing school and I have cut a lot of fun to make it happen, it's a huge investment of time, energy, etc that can also be hard of friendships, relationships, and balance.  I am a natural saver and frugal person but I have certainly compromised some of my normal habits to keep going and get this thing DONE.  We can't give 100% to each and every goal at once, if you are prioritizing getting a degree, then it's hard to prioritize training for a marathon, etc.  So you went straight from the rigors of nursing school to responsible adult life and you are KILLING IT!  Don't be too hard on yourself, and go have a little fun! 

My hubby and I took a two week trip to Costa Rica over Christmas this year even though we are both in school (in our 30s, going back for second degrees unfortunately).  We were on track with our budget and spending for school, both of us are working (him full time, me one shift a week in long term care) and it was an opportunity where we had the time and had a plan in advance, if we were on target we could tai a trip if we weren't then we wouldn't.  We are also paying for school in cash--goodbye down payment for a house. So we weren't going into debt to do it.  It was SO GOOD.  We felt so refreshed and connected when we got back, it is still a lingering joy that is helping us get through the last couple quarters of school.  All that to say, a little calculated spending to get some fun and refreshment is OK and in fact good if it help keep you going with your long term goals.  So have a little fun (doesn't have to be super expensive) and let that be the taste of your future, then get those loans paid off, save some more and do something else a little fun, reward yourself for your progress.

Cheers!!

nycstash

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #34 on: March 11, 2015, 07:51:20 AM »
Look into the nursing loan forgiveness program. If your loans are for your nursing education, you should be able to get something like 85% of your loans forgiven in 2-3 years of work as a nurse if you're in a qualified facility.  Check and see if your hospital qualifies. If it doesn't, this may be worth looking into another job in order to take advantage of the program.  That's a LOT of free money just sitting there and frees up your monthly cash flow significantly.  And you are doing a service (though you already are).

http://www.benefits.gov/benefits/benefit-details/449
http://www.hrsa.gov/loanscholarships/repayment/nursing/

myhotrs

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #35 on: March 11, 2015, 10:58:02 AM »
I use T-Mobile and love their service, used to have Verizon and cut my cost by more than half. Many providers use their network and are cheaper (Metro PCS has an unlimited everything plan for $60 vs $80 at T-Mo.)

MustachianAccountant

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #36 on: March 11, 2015, 02:28:47 PM »
I've looked into Republic Wireless - I'm pretty sure I'm going to switch over to that, and see if I can sell my iPhone, but do you know if the internet is fast and reliable? I don't have internet at home, and use my phone for it instead.


If you don't want to get rid of your iPhone, there are plenty of MVNOs out there besides Republic Wireless.
We have AT&T compatible iPhones (as opposed to Verizon compatible) and use the AirVoice $10/month plan. Since we don't use a lot of data (don't stream music or videos over cell network), $10/month is plenty for us.
Check out ipDaley's superguide for more about different MVNOs, and don't just jump on the Republic bandwagon.

QuirkyNurse

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #37 on: March 11, 2015, 02:58:07 PM »
Look into the nursing loan forgiveness program. If your loans are for your nursing education, you should be able to get something like 85% of your loans forgiven in 2-3 years of work as a nurse if you're in a qualified facility.  Check and see if your hospital qualifies. If it doesn't, this may be worth looking into another job in order to take advantage of the program.  That's a LOT of free money just sitting there and frees up your monthly cash flow significantly.  And you are doing a service (though you already are).

I have looked into doing this, but one of the few places around here that qualifies is Detroit Receiving, and I'm not interested in working there for all the reasons. I'd take a $5 an hour pay cut, lose my awesome benefits,  and I would either have to have a long commute into the city (yuck), or live in the city, which is really not safe for a young single woman. I did clinical rotations there and didn't enjoy it at all. The amount I would save on my loans would equal the amount I lost for making such a switch.

If you don't want to get rid of your iPhone, there are plenty of MVNOs out there besides Republic Wireless.
We have AT&T compatible iPhones (as opposed to Verizon compatible) and use the AirVoice $10/month plan. Since we don't use a lot of data (don't stream music or videos over cell network), $10/month is plenty for us.
Check out ipDaley's superguide for more about different MVNOs, and don't just jump on the Republic bandwagon.

Checking it out now!

@BC, thanks! I'm trying. The Man and I are talking about taking a weekend trip somewhere nice - a camping trip at the dunes or U.P., maybe. We pulled our bicycles out the other day and did 25-ish miles, and it's made all the difference in my mood.

Cannot Wait!

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #38 on: March 13, 2015, 01:06:44 AM »
Could you take the $500 / month from tithing and pay off your loans while keeping track of how much you would have titled and then pay it back later?  Basically giving yourself an interest free loan and some breathing room?  Or perhaps volunteer with your time instead of money?  I would have a problem with a church that wouldn't accept that from a 22 year old.

QuirkyNurse

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #39 on: March 13, 2015, 09:05:59 AM »
Could you take the $500 / month from tithing and pay off your loans while keeping track of how much you would have titled and then pay it back later?  Basically giving yourself an interest free loan and some breathing room?  Or perhaps volunteer with your time instead of money?  I would have a problem with a church that wouldn't accept that from a 22 year old.

I've decided to lower my tithe to my net, rather than my gross. That may be following the letter of the law rather than the spirit, but the Bible also talks extensively about why debt is awful and should be avoided at any cost. I think this is a fair middle ground.

I would love to volunteer my time, but unfortunately, I work strange hours and most of the volunteer opportunities are only available during the weekdays or earlier hours. That's one of my main hope for FIRE - I would love to work in a clinic for underprivileged/low-income people and do mission work someday, and that would be so much easier without the constraints of a full-time job.

SJtoFI

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #40 on: March 13, 2015, 03:53:40 PM »
I wish I had been so in control when I first finished nursing school!

Most of the advice I would have given has already been covered.  I agree you might be better off paying for home internet and dropping to a much cheaper phone plan.  It also seems like you should be able to find cheaper car insurance with some shopping around, even with a leased car. 

I understand how odd hours make it hard to volunteer.  If you're bored, have you considered advancing your education?  There's a lot of programs that are flexible/online, and most large hospitals offer tuition reimbursement.  It could increase your earning potential or opportunities, or at least make you a better nurse and give you something to do.

MicroRN

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #41 on: March 19, 2015, 04:57:01 PM »
I would love to volunteer my time, but unfortunately, I work strange hours and most of the volunteer opportunities are only available during the weekdays or earlier hours. That's one of my main hope for FIRE - I would love to work in a clinic for underprivileged/low-income people and do mission work someday, and that would be so much easier without the constraints of a full-time job.

I'd like to volunteer as well, but unfortunately with kids, volunteering is expensive!  For now I donate money to organizations I like.  Further down the road I'd like to only work per diem, or even travel nursing, and take chunks of time off to volunteer.

MBot

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Re: Young, Nursey, and Getting Burnt Out - A Case Study.
« Reply #42 on: March 19, 2015, 08:05:05 PM »
Wow! I was not expecting such a response. You all are really quite wonderful.

@Elliot I'm not burnt out on nursing at all - I love my job and wish they would let me work more overtime or work longer shifts. I am incredibly fulfilled by my job and what I do. I love being a nurse, which is probably why I mention it far more than I actually need too.

I've looked into Republic Wireless - I'm pretty sure I'm going to switch over to that, and see if I can sell my iPhone, but do you know if the internet is fast and reliable? I don't have internet at home, and use my phone for it instead.

@MrsPete thank you for all the gentle facepunches. I'm feeling sorry for myself and needed that more than I care to admit. College vs. Real Life is such a dramatic shift, and I think rather than adjust, I've taken to trying to make work resemble what college was. I'm terribly guilty of the "I'll be happy when...." I need to go back and read all the optimism posts!

@Waltworks Hahaha, "humblebrag". What a great term!

@mm1970, @rexualchocolate, I choose to tithe because I want to, not because anyone is forcing me to :) I think I've been incredibly blessed with the opportunity to go to college and have a steady job, and I since I have to ability to help those less fortunate than I, I don't see why I wouldn't, even if it means I may not retire as early as I would like, or pay off my debts as soon. We make the community that we live in.

How does one go about getting out of a car lease?

I think you're doing great. The best advice I've seen here is to look into the phone and car lease, which you're already doing.

The other great thing said was to look at what you're "filling" your time with instead of just cutting back. Little rituals for me like going to the farmers market on Saturday for a couple pieces of produce are a nice time/environment/ outing with nothing spent beyond groceries.

ApartmentTherapy and TheKitchn are two websites that talk a lot about hosting on a budget and putting together theme events without high pressure. DesignSponge too sometimes. 

More personally, kudos on keeping a tithe - we have never regretted it through many years of school and debt payoff. It's something that shapes my attitude on gratefulness and generosity, and I'm really encouraged to see others do the same.