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How nurses can make their money stretch a bit further

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Practical advice from Nikki Ramskill, the Female Money Doctor, who tells the Nursing Standard podcast how nurses can cut costs and feel more in control

Close-up of a woman counting British banknotes

Picture: iStock

How can you make your money stretch a bit further, plan for retirement and generally feel more in control of your finances?

Times are tough financially for many nurses, with pay not rising as fast as the rocketing cost of living.

The latest episode of the Nursing Standard podcast hears from money mentor for women and NHS GP Nikki Ramskill, who shares financial advice for nurses.

Nurses should try hard not to leave the NHS pension plan

Known as the Female Money Doctor, Dr Ramskill advises knowing exactly what money is coming in and out, how to reduce unnecessary costs and check pension statements, and fully understanding the current financial situation.


She tells our podcast host, health journalist Erin Dean, that for some nurses this may mean expanding their horizons outside of the NHS to earn more, including having side jobs that can bring in extra money. Dr Ramskill cites the example of a bank nurse running a small online business.

But nurses need to try as hard as possible not to leave the NHS pension, as it is such a good plan, she says.

‘Unfortunately, what you are doing (by leaving the pension plan) is robbing your future self,’ she says. ‘Women have already got a massive gap in their pensions.’


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