Three Mistakes I Made As a New Nurse

Making all of the right decisions as a new nurse can be a daunting task. New nurses endure the shock of caring for multiple patients while having limited experience and knowledge to draw from. Additionally, most of us work in high-pressure environments with very little room for mistakes, which can increase the stress and difficulty of decision-making. This includes inside and outside of the healthcare setting.

I started my career at Johns Hopkins in the operating room, and I credit that as one of the best decisions I ever made. I was thrown into the fire but also loved and supported while I endured the growing pains of becoming an adult and finding my way through life. I still have friends from that era, but I made significant mistakes, and I hope you can learn from them.

I graduated during the 2008 recession, and like many new grads, I experienced a fear of investing due to the uncertain economic climate. The conversations happening were heartbreaking. The operating room became even chillier as co-workers shared how the stock market and their other investment vehicles experienced significant losses. Many lost a substantial portion of their savings and investments. Those set to retire had to keep working despite being consistent and doing what they thought was right. This led to me having a general feeling of distrust and skepticism toward investing. And that was mistake number one.

1. Not investing because of the negative experiences of others. I did not take the time to understand that recessions happen, and so do the recoveries of a post-recession era. And that leads to mistake number two.
2. Not taking advantage of the recession and purchasing a property. I had almost six figures in student loans, but I was working enough overtime to show that I had the capital for a property even if I bought and held it. I also got the Nurse Education Loan Repayment Program grant to help pay down almost half of my loans. Here comes mistake number three.
3. I got a second degree without creating a financial strategy to handle my current or future loans. Not paying my undergrad student loans during law school led to me owing just as much as I did before I received the NELRP grant. I wish I had stuck to my guns and continued to work a few shifts as a nurse during my first year in law school. This would have helped me repay my nursing degree's student loan payments.

I could go on and on about my mistakes as a new nurse outside of the financial ones, but we will save that for another post. I did not have a solid financial background, so I did what was best. I wish that I had read more books and taken calculated risks that could have set me up for a better future. This recession looks different than we have seen before, but if you are a new nurse or even an experienced nurse, take these lessons and make better decisions than I did.

What mistakes can new nurses avoid while they navigate this current recession?