“Can I make enough money as a travel nurse to pay all my bills back home?”
This is a wonderful question and perhaps not surprisingly, one of the ones we hear quite often. The true and short answer is yes. There are also ways to ensure that you are getting the most financial benefit possible by being a traveler. Here are some ideas to increase an already lucrative career path:
Consider an RV
Want to hit the occasional festival or campground in luxurious style? Have you ever dreamed of retiring and traveling the country in an RV? Why wait for retirement when you can invest in an RV for your job? You will be using it to travel and as your housing to work a position on the road. While we aren’t offering you advice, there may be tax advantages to purchasing an RV for healthcare traveling purposes; be sure to check with your tax professional and get all your questions answered in advance. As we mentioned previously, there are many benefits to taking it all with you and if you can save additional money on housing expenses, it may be worth thinking about it more seriously.
Consider renting your house
There are many companies that will offer to do this for you, just be sure you choose a reputable one. You may have even rented someone’s personal home while on an assignment so you know that you can make some serious money and you can possibly save the day for one of your fellow travel nurses who is stuck finding affordable options.
Consider a government travel assignment
One of our travelers shared an impressive insight once that ended up being quite lucrative for him, and for others once we shared the tip. Depending on your lender, you can apply for student loan forgiveness when working at a government facility that serves needy populations. Yes, you will not be making huge weekly paychecks but if you can get your financial loan burdens reduced dramatically, it could be well worth it in the long run. Your lender (and Uncle Sam) may have some strict requirements to apply for this but it most definitely is worth further research.
Consider a CPA for tax time
On TRS Radio we interviewed Joseph Smith, RRT/EA/MTax, the Founder of Travel Tax, a company that handles the financial preparation of filings for countless mobile professionals. He is in high demand in the healthcare industry but I’m sure he would also recommend you seek some professional assistance from somewhere when dealing with tax home status, individual state taxes and potential write-offs. You can visit his website here.
Consider your company wisely
Speaking knowledgeably about all companies is not in our wheelhouse of expertise but we can tell you that choosing a company is important. For example, TRS Healthcare will cover the cost of all pre-contract expenses when you work for us, saving you potentially hundreds and hundreds of dollars. We also pay weekly, ensuring you have access to your money as soon as possible in the event that something unexpected happens. TRS Healthcare also offers free CEU’s to our travelers and has the absolute highest paying referral bonuses in the travel healthcare industry. Our most prolific referrer in 2016 made an additional 5 figures, just for speaking well of TRS to colleagues. TRS also is a member of NATHO (National Association of Travel Healthcare), which ensures member agencies uphold the highest standards within the industry so be sure to ask prospective companies if they are members before moving forward.
Do you have any tips you’d like to share with us? Please email us at email@example.com or comment below.