Our Top 3 Tips to Build the Life You Want on the Road
Two of the biggest perks of life as a traveling healthcare professional? The freedom to explore new places and the potential to earn more—on average—than in a full-time permanent role. Along with competitive pay, and depending on the contract, you have the chance to earn tax-free housing stipends. Pair that with assignments in states where the cost of living is lower, and you’ve got a powerful formula for building the financial future you’ve been dreaming about—whether that’s taking extended breaks to visit and explore your favorite destinations, crushing student debt, or saving up for your dream home. Ready to make it happen? Here are three proven strategies our travelers use to design a future without limits.
Establish a Travel Fund for Time Off Between Assignments
One of the biggest adjustments for new travelers is realizing they can take time off between contracts. About four to six weeks before your contract ends, your recruiter will reach out to help you line up your next contract. At this point, you get the choice of starting your next assignment within a few days or taking one that starts in a few weeks. It’s this in-between time that many of our travelers love – whether it’s a chance to fly home for a few weeks, or head out on an international trip, this “time between assignments” can be extremely rewarding. In order to take advantage of this time off between contracts, financial experts from CNBC Banking recommend setting aside about 15 to 20% of your weekly income—in a dedicated savings account.
Pro tip: Consider keeping your savings in a high yield saving account. That way you’re earning more while saving for a rainy day. Find Fortune’s Best High-Yield Savings Accounts here!
Knock Out Your Loans Faster
If you’re paying down student loans like many healthcare professionals, this is where travel contracts can give you an edge. Work with your recruiter to consider choosing contracts with the highest pay in the lowest cost of living locations (think rural, think mountains) – and you can pay off your student loans- or any loan- in a shorter period of time. Sally Mae recommends paying down debt faster by engaging in one of the following tried and true methods:
- Snowball Method: Start by paying off your smallest loan first (every extra bit helps!) while making minimum payments on the rest. Once that loan is paid off, roll that payment into the next smallest loan. This method is designed for quick wins and motivation.
- Avalanche Method: Means paying off the loan with the highest interest rate first while making minimum payments on the rest. Once that loan is gone, target the loan with the next highest interest rate. This saves more money on interest over time.
Helpful Tools and Calculators
According to Nelnet, starting August 1, 2025, federal student loans that were placed in forbearance will begin accruing interest again under the SAVE (Saving on a Valuable Education) plan- just in case this is a benefit you’ve taken advantage of. Federal Student Aid Services recommends sticking with an income-driven repayment plan—like SAVE or PAYE (Pay as You Earn)— to help you stay in repayment without overextending yourself before you start your life on the road.
Helpful links:
Whatever route you choose, consistency is your best friend. Travel healthcare gives you the power to take control—and that includes your debt.
Take the Work Out of Tracking Your Money
Tracking your spending doesn’t have to be rigid or time-consuming. There are user-friendly tools out there that can help you understand your spending patterns and help you save more for the future. These apps come highly recommended by healthcare travelers:
- You Need a Budget (YNAB): Ideal for zero-based budgeting—every dollar gets a job.
- Mint: Syncs your bank accounts and tracks spending automatically.
- Rocket Money: Uncovers and cancels subscriptions you might’ve forgotten about.
- Empower: Offers a holistic view of your net worth, investments, and budget.
The goal isn’t to penny-pinch—it’s to build a system that supports your mobile lifestyle while empowering you to live fully. Budgeting should give you more freedom, not less.
Traveling as a healthcare professional offers incredible opportunities to explore, grow, and thrive. But that freedom is amplified when you’ve got a plan for your paychecks. Saving for time off, managing student loans strategically, and leaning on tools that make budgeting easy can help you stay grounded financially, no matter where you roam. Your future self will thank you—perhaps from a sun-drenched porch, a mountain trail, or a cozy coffee shop.
