Money Management Tips Pathologists Assistants' and Histotechs

Travel pathologists' assistants and histotechs have an opportunity to take charge of their careers, sharpen and expand their skill sets, and experience different lab environments. They also have an amazing opportunity to get paid to travel and explore parts of the country they may never get a chance to see. Best of all, when working with a competent lab staffing agency, travel pathology and histology lab positions receive competitive pay rates and an extensive benefits package that further drives final compensation for every engagement. 

Travel PAs & Histotechs Should Stay Engaged With Their Finances While on the Road

Sound like a great gig? For many PAs and HTs/HTLs, it truly is. These road warriors revel in curating their careers one lab contract at a time and simultaneously optimizing their earning potential. Going into a contract armed with a financial plan can not only help you better enjoy your time away, but it can also help you achieve some of your future savings goals. Understanding a few essential money management tips can help travel lab professionals maximize cash flow with every contract. Here are four money management suggestions to consider the next time you're on assignment: 

1. Create a Budget

If you’re the kind of person who likes to be in control of your finances and enjoys putting together a budget when you receive free lodging, per diem meals, and travel reimbursement while on contract, then this is your time to shine. Putting together a spending plan can help you keep an eye on expenses and help you save. At Nicklas Medical Staffing, we’ve had many employees use their extra income to pay off student loans, buy cars, or save for a home down payment. 

2. Set up Autopayments

Sure, you'll enjoy free lodging while on contract. However, many travel lab professionals still have rent and other expenses to pay at home, such as utilities, cable, phone, loans, and credit cards. The best way to stay on top of your monthly payments (and avoid recurring late fees) back home is to set up automatic payments. Pro Tip: Whenever possible, pause services or even Airbnb your housing while away, to maximize further cost savings during your assignment. 

3. Save the Surplus 

Yes, you should absolutely treat yourself while away as you explore your temporary home sweet home — it’s a great opportunity to use your extra income to enjoy new scenery and experiences. However, it's also essential to save at least some of your surplus income. If you haven't already, open a savings account with mobile deposit functionality so you can make direct deposits anywhere in the U.S., developing an automatic savings routine while you’re away.

4. Consult a Professional

Worried that you just won't have the time or energy needed to stay focused on your finances while away? Nothing says you have to do it on your own. Consult with a financial advisor to discuss the best ways to leverage your income, both while away on assignment as well as for future goals. Financial advisors can work with you to begin to pay off big loans while on assignment as well as providing guidance for any retirement savings plans you might have.

Ready to Experience a Travel Lab Adventure for Yourself? 

Nicklas Medical Staffing connects innovative PAs and HTs/HTLs at pathology and histology labs across the U.S. Contact us today to hear about our open opportunities to find your next dream job. 

Want more tips?

Download our free tip sheet for maximizing your income on your next travel lab assignment.