Well, I officially have $5 in my savings account! I pulled out my $2,300 school fund to pay for my last semester of nursing school. Combined with my $5,000 tuition reimbursement, I will pay for school in full without taking out additional loans.
So, as this milestone has finally been reached, my goals are shifting and I have to get on the ball regarding to spending. "School fund" has turned into "future fund" and my new goal for 2013-2014 is to save $10,000 towards my future.
My old student loan is almost gone - it is $2,200 and shrinking every month. I hope to get rid of it before the end of the year and apply the same principles to my new student loan and hope to balance aggressive saving with paying down the new debt I have.
I'm thrilled to say in 12 weeks I will be finished with nursing school. The first two months of summer are going to be extremely stressful with me attending school and trying to meet wok demands and attend family events like weddings and graduation parties.
As the summer rolls on, I'm going to be working on focusing my energy where I need it most and trying to enjoy my favorite time of year.
Saturday, May 11, 2013
Saturday, April 27, 2013
Fees, fees, fees!
Phew, becoming a RN is expensive!
The past five months have been a continual effort by me to stay on track with my credit card bill. Pretty much my entire paycheck pays off all my living expenses plus my credit card. There have been so many surprise expenses that have popped up since I started winding down school....it is mind boggling!
First, I had to pay a $200 "graduation fee" which includes me being able to get my cap and gown "free" from the bookstore. Once I was cleared to graduate this fee suddenly popped up on my account and I had to pay it this week before I am allowed to register for my final semester. At a school where I pay $900/credit for classes, you would think it would be free to graduate. Alas, it is not!
Now that I'm graduating I have to think about taking the nursing licensure exam: the NCLEX. Testing companies really tap into your anxiety of "passing" the exam. So, I was invited to watch a presentation by Kaplan in which they gave our college a "great deal" on their NCLEX review program: instead of the normal $499, we only had to pay $379! Yippeee. So there goes another bunch of money down the drain. The program guarantees I'll pass on the first try, so it should be worth it.
As I register for my final semester, a whopping 8 credits, I have to pay for them upfront. I'm not taking out any loans for the summer, so I will be putting $7,200 on my credit card and paying it off with the remainder of my savings and my tuition reimbursement from my job ($5,000). I'm also going to have to buy my final set of books (so sad) which will probably set me back $120. The strategy of using my credit card to pay for my tuition has allowed me to use my reward points every semester to buy my books. It is a great way to get "free money" as long as you are able to pay the tuition bill right away and not allowing it to incur interest.
Once I finish my summer classes and my school puts my diploma through to the board of nursing in NY, I will be eligible to sit for the NCLEX! Which means...MORE MONEY! I will have to pay $143 for my application for licensure in September when I mail my forms in.
Phew. It's going to be a rough road financially, but lucky for me I will be working throughout the summer and picking up full time hours once I finish my last nursing classes on August 3rd. The light at the end of the tunnel is finally appearing!
The past five months have been a continual effort by me to stay on track with my credit card bill. Pretty much my entire paycheck pays off all my living expenses plus my credit card. There have been so many surprise expenses that have popped up since I started winding down school....it is mind boggling!
First, I had to pay a $200 "graduation fee" which includes me being able to get my cap and gown "free" from the bookstore. Once I was cleared to graduate this fee suddenly popped up on my account and I had to pay it this week before I am allowed to register for my final semester. At a school where I pay $900/credit for classes, you would think it would be free to graduate. Alas, it is not!
Now that I'm graduating I have to think about taking the nursing licensure exam: the NCLEX. Testing companies really tap into your anxiety of "passing" the exam. So, I was invited to watch a presentation by Kaplan in which they gave our college a "great deal" on their NCLEX review program: instead of the normal $499, we only had to pay $379! Yippeee. So there goes another bunch of money down the drain. The program guarantees I'll pass on the first try, so it should be worth it.
As I register for my final semester, a whopping 8 credits, I have to pay for them upfront. I'm not taking out any loans for the summer, so I will be putting $7,200 on my credit card and paying it off with the remainder of my savings and my tuition reimbursement from my job ($5,000). I'm also going to have to buy my final set of books (so sad) which will probably set me back $120. The strategy of using my credit card to pay for my tuition has allowed me to use my reward points every semester to buy my books. It is a great way to get "free money" as long as you are able to pay the tuition bill right away and not allowing it to incur interest.
Once I finish my summer classes and my school puts my diploma through to the board of nursing in NY, I will be eligible to sit for the NCLEX! Which means...MORE MONEY! I will have to pay $143 for my application for licensure in September when I mail my forms in.
Phew. It's going to be a rough road financially, but lucky for me I will be working throughout the summer and picking up full time hours once I finish my last nursing classes on August 3rd. The light at the end of the tunnel is finally appearing!
Tuesday, March 26, 2013
The End is Near
The light at the end of the tunnel is slowly showing itself to me: I will be finished with nursing school on August 3rd!
It's so amazing that when I started this blog, I was in a completely different place in my life professionally and financially. Although I will be finishing school with more debt than ever, I feel it was worth the investment. I ended my old job making around $65K and starting salaries for nurses in the hospital where I work are $85K.
Because I am finishing school in the middle of summer, I will get to participate in the graduation ceremonies in May. I am probably not going to walk in the big school graduation ceremony, but I will be attending the "pinning" ceremony where you go through some rituals to enter the world as a new nurse. I am excited to get it underway and start my new career!
Financially it has been a tough couple of months with me using my entire paychecks to pay my credit card bill every month. A couple of bridal showers and other financial commitments have been straining me, but I am still able to pay my credit card in full. I'm lucky to be getting $5K from work towards my tuition and I know if I didn't have that coming to me I would be under a lot more stress to save and/or find a loan that would cover my last summer semester.
I've been very consistent with going to the gym that I joined at the end of December, and as a result I have lost between 10-15 pounds (depending on which starting weight I use, and my weight fluctuates a lot). I've been going to spinning class 1-2 times a week, lifting weights on my own three times a week and doing some home workouts on the days I get back late from school. I think just like paying off debt, if you make exercise and eating healthy a priority in your life, you'll be successful.
Anyways, I hope to come back and start posting more often, but until then....keep on keepin on!
It's so amazing that when I started this blog, I was in a completely different place in my life professionally and financially. Although I will be finishing school with more debt than ever, I feel it was worth the investment. I ended my old job making around $65K and starting salaries for nurses in the hospital where I work are $85K.
Because I am finishing school in the middle of summer, I will get to participate in the graduation ceremonies in May. I am probably not going to walk in the big school graduation ceremony, but I will be attending the "pinning" ceremony where you go through some rituals to enter the world as a new nurse. I am excited to get it underway and start my new career!
Financially it has been a tough couple of months with me using my entire paychecks to pay my credit card bill every month. A couple of bridal showers and other financial commitments have been straining me, but I am still able to pay my credit card in full. I'm lucky to be getting $5K from work towards my tuition and I know if I didn't have that coming to me I would be under a lot more stress to save and/or find a loan that would cover my last summer semester.
I've been very consistent with going to the gym that I joined at the end of December, and as a result I have lost between 10-15 pounds (depending on which starting weight I use, and my weight fluctuates a lot). I've been going to spinning class 1-2 times a week, lifting weights on my own three times a week and doing some home workouts on the days I get back late from school. I think just like paying off debt, if you make exercise and eating healthy a priority in your life, you'll be successful.
Anyways, I hope to come back and start posting more often, but until then....keep on keepin on!
Friday, January 11, 2013
Success!
I've been stressing about getting my tuition paid for by work for a few weeks now.
Yesterday I had a super short meeting with the head of nursing education and she was quick to approve me for my tuition reimbursement - score!
This means I get $5,000 back towards the Spring semester after I submit my grades in May. The money will be direct deposited into my account and I will be able to apply it towards my final semester of nursing school, which costs $7,200.
....
Wahooooo!!!
....
Just because I'm getting this money doesn't mean I'm going to scale back on my savings goals. I'm still going to try and graduate with $5,000 in the bank. Whether I will put it directly towards my federal unsubsidized loans or maybe keep half in savings for the future and the other half towards my old school loan, I'm going to do something good with the money!
This news has been a huge weight off my shoulders, and a final affirmation that I am doing exactly what I should be doing to get ahead in my education and career. Working part time has been a complete dream and I hope the next seven months continue that way!
Yesterday I had a super short meeting with the head of nursing education and she was quick to approve me for my tuition reimbursement - score!
This means I get $5,000 back towards the Spring semester after I submit my grades in May. The money will be direct deposited into my account and I will be able to apply it towards my final semester of nursing school, which costs $7,200.
....
Wahooooo!!!
....
Just because I'm getting this money doesn't mean I'm going to scale back on my savings goals. I'm still going to try and graduate with $5,000 in the bank. Whether I will put it directly towards my federal unsubsidized loans or maybe keep half in savings for the future and the other half towards my old school loan, I'm going to do something good with the money!
This news has been a huge weight off my shoulders, and a final affirmation that I am doing exactly what I should be doing to get ahead in my education and career. Working part time has been a complete dream and I hope the next seven months continue that way!
Wednesday, January 2, 2013
Making the most out of my gym membership
I thought long and hard about signing up for the gym again. My past track record with the gym has not been the best. For several years I was paying $70/month for a New York Sports Club that I only went to maybe twice a week AT BEST. When Planet Fitness opened near my apartment, I ditched NYSC for their cheap $20/month membership. Again I barely went and ended up cancelling when I moved for school.
Since I've been in school I've been using the meager gym located on campus, but it really hasn't motivated me to really get into shape. Staying fit while being in school has been HARD. The combination of sitting all day in class, going to early morning clinical rotations at the hospital, and working evenings on the weekend left me with no energy for workouts by myself.
I've been noticing a lot of aches and pains in my body that were not there before. I feel like being out of shape is contributing to this, and I know that I have time for one hour a day of exercise when I can sit in front of the television for hours on end watching Scandal or Revenge!
So when I got an email to get the NYSC "Alumni" membership - $60 for a Passport level membership for life - I was ready to jump back in! This is a pretty hefty investment so I have to make sure I really make the most of it. What I really like about NYSC is their CLEAN, NICE gyms and great classes. This is the plan I have put into place starting last week:
Sunday - Rest Day
Monday - Total Body Conditioning (55 minutes)
Tuesday - Incline treadmill workout
Wednesday - Spinning (45 minutes)
Thursday - Boot Camp (55 minutes)
Friday - Spinning (45 minutes)
Saturday - Ultimate Conditioning (55 minutes)
Spinning class is basically my foundation and I am adding in conditioning classes and trying to do something for at least an hour every day. I find that working out in group classes so much easier than working out on my own. For example, yesterday night I went to the gym and did a 1-hour incline treadmill workout on my own and it was like torture! I am extremely sore from Monday's total body conditioning class, which was most weight lifting exercises. I liked it a lot except for the fact that it was full of women who only want to "tone" themselves and therefore using maybe 2 lb. weights the entire time! Here I was with 10-pound weights and 20 pounds on my bar and even that seemed like a cop out. The only thing that saved me was the extended reps - it seemed like we did 30 reps of each exercise so even with 10 pound hand weights I was burning most of the time, but nothing was impossible for me to do with the heavy weights.
NYSC also has a new class that is modeled after CrossFit called UXF Burn. I'm going to try and do that class too but it hasn't been offered when I am available yet. I would like to ultimately sign up for a Crossfit gym but with most of the monthly memberships costing $200 or more, I simply can't justify it compared to $60 at the gym.
If I end up going to classes 5 days a week, my gym membership will end up costing me $2.40 a class! Compared to the expensive spinning classes near me which cost $30 a class, I feel like it's a great deal.
Since I'm off from school until January 22nd, time will tell if I can keep up this routine during my break and continue while I'm back in classes. I know I will have to adjust my schedule according to class and clinical time, but I'm hoping if I make my health and fitness a priority, I will be able to keep up the schedule!
Since I've been in school I've been using the meager gym located on campus, but it really hasn't motivated me to really get into shape. Staying fit while being in school has been HARD. The combination of sitting all day in class, going to early morning clinical rotations at the hospital, and working evenings on the weekend left me with no energy for workouts by myself.
I've been noticing a lot of aches and pains in my body that were not there before. I feel like being out of shape is contributing to this, and I know that I have time for one hour a day of exercise when I can sit in front of the television for hours on end watching Scandal or Revenge!
So when I got an email to get the NYSC "Alumni" membership - $60 for a Passport level membership for life - I was ready to jump back in! This is a pretty hefty investment so I have to make sure I really make the most of it. What I really like about NYSC is their CLEAN, NICE gyms and great classes. This is the plan I have put into place starting last week:
Sunday - Rest Day
Monday - Total Body Conditioning (55 minutes)
Tuesday - Incline treadmill workout
Wednesday - Spinning (45 minutes)
Thursday - Boot Camp (55 minutes)
Friday - Spinning (45 minutes)
Saturday - Ultimate Conditioning (55 minutes)
Spinning class is basically my foundation and I am adding in conditioning classes and trying to do something for at least an hour every day. I find that working out in group classes so much easier than working out on my own. For example, yesterday night I went to the gym and did a 1-hour incline treadmill workout on my own and it was like torture! I am extremely sore from Monday's total body conditioning class, which was most weight lifting exercises. I liked it a lot except for the fact that it was full of women who only want to "tone" themselves and therefore using maybe 2 lb. weights the entire time! Here I was with 10-pound weights and 20 pounds on my bar and even that seemed like a cop out. The only thing that saved me was the extended reps - it seemed like we did 30 reps of each exercise so even with 10 pound hand weights I was burning most of the time, but nothing was impossible for me to do with the heavy weights.
NYSC also has a new class that is modeled after CrossFit called UXF Burn. I'm going to try and do that class too but it hasn't been offered when I am available yet. I would like to ultimately sign up for a Crossfit gym but with most of the monthly memberships costing $200 or more, I simply can't justify it compared to $60 at the gym.
If I end up going to classes 5 days a week, my gym membership will end up costing me $2.40 a class! Compared to the expensive spinning classes near me which cost $30 a class, I feel like it's a great deal.
Since I'm off from school until January 22nd, time will tell if I can keep up this routine during my break and continue while I'm back in classes. I know I will have to adjust my schedule according to class and clinical time, but I'm hoping if I make my health and fitness a priority, I will be able to keep up the schedule!
Monday, December 31, 2012
See ya later, savings
Another semester is over and that means the next semester must be paid for!
It hurts a bit to see all my savings from the past year go out of my account so fast, but I feel accomplished in what I've been able to do since starting school in September 2011.
This semester I paid $5,800 for tuition. This brings my out of pocket expenses on tuition to $22,000 for 4 semesters. My student loans for this time period are $25,000.
After transferring the money out of my account for my tuition, I have $500 left in my school savings account and $450 in my emergency savings account. I'm hoping to boost my school savings quickly by continuing to avoid shopping and extra expenses.
I did add one expense for the new year which I am happy about - a gym membership. The last two months of the semester, I barely exercised at all. Working out by myself without a competition coming up has always been a challenge. When I was offered a great deal for an Alumni membership with New York Sports Club, I jumped on it. In my area there are three NYSC within a 10 minute drive and they all offer great classes. So far I've gone to two spinning classes and am going to a Total Body Conditioning class this afternoon. I'm hoping the fact that I have a class to attend will help me keep my motivation. I'm paying $60 for a passport membership which allows me access to all of the NYSC gyms in the country. It's also month to month, so if it really doesn't pan out the way I think it will, I can cancel the membership if I think it's a waste.
Happy New Year's everybody!
It hurts a bit to see all my savings from the past year go out of my account so fast, but I feel accomplished in what I've been able to do since starting school in September 2011.
This semester I paid $5,800 for tuition. This brings my out of pocket expenses on tuition to $22,000 for 4 semesters. My student loans for this time period are $25,000.
After transferring the money out of my account for my tuition, I have $500 left in my school savings account and $450 in my emergency savings account. I'm hoping to boost my school savings quickly by continuing to avoid shopping and extra expenses.
I did add one expense for the new year which I am happy about - a gym membership. The last two months of the semester, I barely exercised at all. Working out by myself without a competition coming up has always been a challenge. When I was offered a great deal for an Alumni membership with New York Sports Club, I jumped on it. In my area there are three NYSC within a 10 minute drive and they all offer great classes. So far I've gone to two spinning classes and am going to a Total Body Conditioning class this afternoon. I'm hoping the fact that I have a class to attend will help me keep my motivation. I'm paying $60 for a passport membership which allows me access to all of the NYSC gyms in the country. It's also month to month, so if it really doesn't pan out the way I think it will, I can cancel the membership if I think it's a waste.
Happy New Year's everybody!
Thursday, December 27, 2012
The Holiday Season
Happy December! Well, end of December, really.
This month has been a whirlwind for me - final exams and studying took up much of the two weeks before Christmas with my exams going right up until December 20th. I did very well in all my classes and am finishing this semester with a GPA of 3.7 (3.8 if my professor is a generous rounder...we'll see!)
I'm relieved to be finished with the first semester of school and working part time. There were no problems with working on the weekends and going to school during the week. I think I had plenty of time to study during my off time from school and while my personal life suffered and I spent almost every single Friday and Saturday working at the hospital, it was worth it.
Next semester will be my last "full time" semester where I take 13 credits. My last semester, which I hope to complete in June and July, will only be 8 credits. And then I'm done with nursing school! It's amazing how time has flown by and how much has changed for me since just last year.
I made it through the holidays with no more credit card debt than I normally do, which is signaling to me that I have to tone it down if I want to save as much as possible before June. From Christmas money I was able to save $500 into my school fund, which puts me only $100 away from paying for the Spring semester bill in full.
I'm scared that I will be draining my entire savings account to pay for this upcoming semester, but I have been working a lot of over time and anticipate being able to save about $1,200 in January towards the summer semester. I'm feeling nervous about asking for tuition reimbursement and am afraid I don't qualify. In some of the literature at my work it says it covers "classes" others say it only covers your "course of study" that BEGAN six months after your hire date. I have to ask my boss if she will approve it and am preparing myself for the worst-case scenario which would be not getting $5,000 tuition reimbursement for the summer semester.
If I don't get the reimbursement, I need to come up with $7,200 to pay for my summer semester in full. It seems to me I will be able to save $5,400 from January-July if I follow the schedule of saving one entire paycheck every month ($600). My projected tax return is around $1,000 so I will save that also, bringing me up to $6,400. Finally if I am still working as a Tech in August while studying to take the NCLEX, I can save the additional $800 to cover it completely. I know BF will help me with the money for school if I really need it, and he doesn't want me to take out a loan on the last semester (if I don't take a loan, I will graduate with $25,000 in loans). So I am going to try and save as aggressively as possible, cut back tremendously on my dinners out and lunch take out, and suck it up for the next eight months!
I'm hoping and praying that I will be able to stay at the hospital I am working at to work as a RN when I graduate. Everyone I work with is very confident that I will get a job "if I want one" and I always say OF COURSE I want a job here! It's a great facility and I already see the positive benefits of their employee retirement plans and insurance. It is a place I can see myself developing and growing my nursing career. Fingers crossed!
I'm going to try and update more as I find out about my work situation, things get so busy sometimes that I literally don't sit in front of my computer for longer than 10 minutes at a time!
Happy holidays to everyone, and Happy New Year!
This month has been a whirlwind for me - final exams and studying took up much of the two weeks before Christmas with my exams going right up until December 20th. I did very well in all my classes and am finishing this semester with a GPA of 3.7 (3.8 if my professor is a generous rounder...we'll see!)
I'm relieved to be finished with the first semester of school and working part time. There were no problems with working on the weekends and going to school during the week. I think I had plenty of time to study during my off time from school and while my personal life suffered and I spent almost every single Friday and Saturday working at the hospital, it was worth it.
Next semester will be my last "full time" semester where I take 13 credits. My last semester, which I hope to complete in June and July, will only be 8 credits. And then I'm done with nursing school! It's amazing how time has flown by and how much has changed for me since just last year.
I made it through the holidays with no more credit card debt than I normally do, which is signaling to me that I have to tone it down if I want to save as much as possible before June. From Christmas money I was able to save $500 into my school fund, which puts me only $100 away from paying for the Spring semester bill in full.
I'm scared that I will be draining my entire savings account to pay for this upcoming semester, but I have been working a lot of over time and anticipate being able to save about $1,200 in January towards the summer semester. I'm feeling nervous about asking for tuition reimbursement and am afraid I don't qualify. In some of the literature at my work it says it covers "classes" others say it only covers your "course of study" that BEGAN six months after your hire date. I have to ask my boss if she will approve it and am preparing myself for the worst-case scenario which would be not getting $5,000 tuition reimbursement for the summer semester.
If I don't get the reimbursement, I need to come up with $7,200 to pay for my summer semester in full. It seems to me I will be able to save $5,400 from January-July if I follow the schedule of saving one entire paycheck every month ($600). My projected tax return is around $1,000 so I will save that also, bringing me up to $6,400. Finally if I am still working as a Tech in August while studying to take the NCLEX, I can save the additional $800 to cover it completely. I know BF will help me with the money for school if I really need it, and he doesn't want me to take out a loan on the last semester (if I don't take a loan, I will graduate with $25,000 in loans). So I am going to try and save as aggressively as possible, cut back tremendously on my dinners out and lunch take out, and suck it up for the next eight months!
I'm hoping and praying that I will be able to stay at the hospital I am working at to work as a RN when I graduate. Everyone I work with is very confident that I will get a job "if I want one" and I always say OF COURSE I want a job here! It's a great facility and I already see the positive benefits of their employee retirement plans and insurance. It is a place I can see myself developing and growing my nursing career. Fingers crossed!
I'm going to try and update more as I find out about my work situation, things get so busy sometimes that I literally don't sit in front of my computer for longer than 10 minutes at a time!
Happy holidays to everyone, and Happy New Year!
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