Travel Nurse Savings Goal Calculator
Calculate how much you can save as a travel nurse and how long it will take to reach your financial goals. Plan your path to financial freedom.
Why travel nurses save more: Higher pay + tax-free stipends + flexible lifestyle = the perfect formula for aggressive saving. Many nurses save $50,000+ per year.
Savings Goal Calculator
Calculate how much you can save as a travel nurse and how long it will take to reach your financial goals.
Your Pay Package
Expenses & Goals
Include rent, food, transportation, subscriptions, etc.
Monthly Summary
Goal Progress
Remaining
$45,000
Time to Goal
4.5 months
Savings Potential
Weekly
$2,286
Monthly
$9,899
Annual
$118,793
Excellent! You're a super saver.
How Long to Reach Common Goals?
Emergency Fund
$10,000
Less than 1 month
Down Payment
$25,000
2 months
Solid Nest Egg
$50,000
5 months
Major Milestone
$100,000
10 months
💰 Maximize Your Savings: Travel nurses often save 40-60% of their income by keeping expenses low. Consider house-sitting, RV living, or staying with family between assignments to dramatically increase your savings rate.
Top Savings Strategies for Travel Nurses
💰 Housing Arbitrage
Your housing stipend is based on GSA rates. Find housing below this amount and pocket the difference. Example: $1,400/week stipend - $1,000/week rent = $400/week savings.
🏠 Low-Cost Tax Home
Keep your tax home expenses minimal. Consider renting a room from family, or maintaining a small apartment in a low-cost area. This unlocks tax-free stipends.
🚗 RV/Van Life
Some nurses save 100% of their housing stipend by living in an RV. After the initial investment, your "rent" is just campground fees ($500-800/month).
📍 Strategic Location Selection
High-paying states with low costs of living maximize savings. Consider Texas, Florida, or Arizona for good pay and reasonable living costs.
🔄 Automate Everything
Set up automatic transfers to savings on payday. What you don't see, you don't spend. Treat savings like a non-negotiable bill.
📊 Track Spending
Use apps like Mint or YNAB to track every dollar. Identify and eliminate unnecessary spending. Small daily savings compound into big annual savings.
Common Travel Nurse Financial Goals
Emergency Fund
$10,000
3-6 months expenses for security
Down Payment
$50,000
20% down on a $250K home
Debt Freedom
$30,000
Pay off student loans, cards
Financial Freedom
$100,000+
Options and flexibility
Travel nursing advantage: With $4,000-5,000/month savings potential, these goals are achievable in 1-3 years instead of 5-10.
Frequently Asked Questions
How much can I save as a travel nurse?
Travel nurses often save 40-60% of their income, significantly more than staff nurses. With average weekly pay of $2,500-3,500 and strategic expense management, many travelers save $50,000-80,000+ per year. The key factors are: minimizing housing costs, maintaining a low-cost tax home, and avoiding lifestyle inflation.
What's a good savings rate for travel nurses?
A savings rate of 30%+ of take-home pay is excellent for travel nurses. 40-50% is achievable with disciplined spending. Some aggressive savers hit 60%+ by house-sitting, RV living, or staying with family. Even 20% is a great start if you're new to travel nursing.
How do I maximize my savings as a travel nurse?
Top strategies include: (1) Keep your tax home costs low or stay with family, (2) Find housing below your stipend amount, (3) Take assignments in lower cost-of-living areas, (4) Avoid lifestyle inflation when your income increases, (5) Automate savings transfers, (6) Track all expenses carefully.
Should I pay off debt or save while travel nursing?
Generally, prioritize: (1) Emergency fund of 3-6 months expenses, (2) High-interest debt (credit cards, personal loans), (3) Retirement contributions (at least employer match), (4) Medium-interest debt, (5) Additional savings/investing. Travel nursing's high income makes it an ideal time to tackle debt aggressively.
How much emergency fund do travel nurses need?
Travel nurses should have 3-6 months of expenses saved, potentially more since contract cancellations can happen. This typically means $10,000-20,000 in liquid savings. Keep this in a high-yield savings account for easy access. Your emergency fund provides security to walk away from bad assignments.
Maximize Your Travel Nurse Income
The first step to saving more is understanding exactly what you're earning. Use our main calculator to see your true take-home pay.
Calculate Your Take-Home Pay →