Valentine’s Day is often about celebrating love with others, but what about showing love to yourself—especially your financial future by wealth building? This year, instead of just chocolates and flowers, give yourself the gift of financial security. “Self-care” is one of those things that is often misinterpreted and misconceived. Often times, people associate self-care with selfishness, relaxing and spending money on yourself. It’s not. Self-care is a necessity.
Whether you’re a busy nurse working long shifts or balancing multiple responsibilities, taking control of your finances is one of the most powerful acts of self-love you can make.
Here is a simple wealth building plan to start today:
1. Check Your Financial Health
Just like you assess patients, it’s time to assess your finances. Take a few moments to review:
- Your current savings and checking account balances
- Outstanding debts (credit cards, student loans, car payments, etc.)
- Your monthly budget and spending habits
By knowing where you stand, you can create a plan to move forward. Self-awareness is the first step to knowing how you can improve your finances. If you want to track your money, I recommend downloading apps to make it easier:
- MONARCH MONEY – great for couples
- Empower (Personal Capital)
- You Need A Budget (YNAB)– if you like zero-based budgeting
2. Create or Boost Your Emergency Fund
Life as a nurse can be unpredictable, and having a solid emergency fund gives you peace of mind. If you don’t have one yet, aim for at least three to six months’ worth of living expenses. Start by setting aside a small amount from each paycheck—even $25-$50 can add up quickly.
3. Start Investing (Even If You Think You Can’t)
If you’re not already investing, now is the time to start. Many nurses believe they don’t earn enough or don’t have the knowledge to invest, but with platforms like index funds and employer-sponsored retirement plans (401k, 403b), getting started is easier than ever. Consider:
- Maxing out employer match on your retirement plan
- Investing in a Roth IRA for tax-free growth
- Using an automated investing app to put small amounts into ETFs
If you want to learn how to invest in index funds and learn the basics of investing, here is a class for you.
4. Eliminate High-Interest Debt
Debt can hold you back from financial freedom. If you have high-interest credit cards, focus on paying them off aggressively. Use strategies like the snowball method (paying off small debts first for motivation) or avalanche method (tackling the highest interest rates first).
5. Increase Your Income
Want to fast-track your wealth? Consider additional income streams:
- Picking up a PRN shift or per diem work
- Starting a side hustle related to healthcare (telehealth, tutoring, blogging).
- Learning new skills to qualify for higher-paying roles (like nurse practitioner or case manager positions)
6. Practice Intentional Spending
Financial freedom doesn’t mean never spending money, but it does mean being intentional. This Valentine’s Day, instead of splurging on things you don’t need, ask yourself:
- Will this purchase add long-term value to my life?
- Could this money be better used to reach my financial goals?
- How can I treat myself in a way that aligns with my financial future?
One of my goals this year is to cut down on spending and practice minimalism. I read a book a month ago that really changed the way I view material things. The book is called Goodbye Things by Fumio Sasaki.
7. Join a Financially-Minded Community
Surrounding yourself with others on the same path can keep you accountable and motivated. Consider joining a group of nurses focused on financial independence, whether it’s an online forum, Facebook group, or a course like Employ Your Money that helps nurses build wealth through investing.
Give Yourself the Gift of Financial Security
This Valentine’s Day, prioritize yourself by taking small but impactful steps toward financial independence. Your future self will thank you for the effort you put in today. What’s one financial step you’ll take this week to show yourself some love?
