Are you an allied healthcare professional considering the benefits of a travel job? Not only does it provide flexibility with scheduling, but it also brings great rewards too! One of these is the chance to earn more money. But how do you make sure that your income is well managed and spent wisely for travel allied healthcare jobs? Setting up a budget can seem daunting, but if done correctly, it can be just what’s needed to ensure long-term financial security while enjoying short-term adventures. Here are our top tips for budgeting as a traveling allied healthcare pro.
Make a Budget for Every Travel Allied Healthcare Job
Taking a travel allied healthcare job can be an extremely exciting and eye-opening experience, but before taking the leap into your next adventure, it is essential to first establish a budget. You will need to make sure your income meets or exceeds your expenses and helps you further your financial goals.
Set yourself up for success by tracking expenses ahead of time and making sure there are enough funds to support your long-term goals like paying off debt or saving. By properly preparing a budget in advance, you can better manage your money as a traveler.
Check Out Cost of Living for Allied Health Job Locations
When seeking allied health jobs, it is important to account for the cost of living for each job location. This can help you make a budget for your time in that area. Look into cost of living rates online to see the average cost of things like housing and food. This way, you can make more informed decisions about allied health job opportunities. If you’re having a hard time finding good information, consider checking out the published GSA per diem rates. These are maximums set by the government for each area for things like lodging, meals, and incidentals. Just keep in mind that these are usually inflated because they’re designed for shorter-term trips and are designed to provide a maximum limit, rather than an average or minimum.
Know the Weekly Pay Rate for Travel Allied Healthcare Jobs
Knowing the details of your allied healthcare job before accepting an assignment is key to ensuring that your budget is on point. So, know what the gross and net weekly pay is for your assignment and keep the length of the assignment in mind. Most allied healthcare jobs come with an assignment length of 13 weeks, so it’s important to be aware of how much you will be making per week before taking on a contract. This helps you calculate exactly what you’ll make for the duration of your assignment so you can plan accordingly.
Consider Tax-Free Stipends
When you’re looking at new allied healthcare jobs, it’s important to factor in any tax-free stipends you may be eligible for. In many cases, you’ll be eligible for tax-free income through stipends to help pay for things like housing and travel because you’re traveling away from home. These are generally paid out with your weekly paycheck and should be considered when making up your budget. You can use these stipends to cover costs like housing. Also, if you find ways to save on those expenses, the rest of the stipends can stay in your pocket to go toward other expenses.
Determine Your Expenses for Allied Healthcare Jobs
If you’re a travel allied healthcare professional, budgeting can become a bit of a juggling act. Your travel pay rate varies from assignment to assignment, which makes it difficult to plan for those variable expenses like entertainment. Making a list of your static expenses — things like rent/mortgage back home, your cell phone bill, and other unchanging expenses is a great starting point. From there, you can determine the more variable expenses you’ll have to create a good, comprehensive budget. With this approach, you can still enjoy yourself on assignments without jeopardizing or inflating your budget.
Remember to Save
Saving money is a key part of any budget, and this is especially true for travel allied health professionals. Since you get paid for different allied healthcare jobs, there’s a lot of change to consider. The good news is that travelers tend to make more than permanent staff, so you can often save a lot more as a traveler. Just make sure you put savings in your budget and consider paying yourself first to avoid forgetting to save.
AHS MedStat – Medical Staffing Agency Specializing in Travel Allied Healthcare Jobs
Becoming an allied health traveler can be an exciting opportunity, but it’s important to make sure that you establish a budget before taking the plunge. With the right plan, you can manage your money easier during your allied healthcare jobs. If you’re ready to start an exciting adventure as an allied health professional, consider becoming a traveler with our medical staffing agency. We’re a top-rated agency in the industry specializing specifically in allied health travelers. So, if you want a lively journey with plenty of opportunity for growth during your travels, AHS MedStat has the perfect job waiting for you! Browse our job board or talk to our recruiters now and get started on an exciting adventure today!