Understanding nurses' financial realities
Nurses are looking after others, but who’s looking after them financially?
At Bank First, we wanted to understand the real-life money pressures faced by nurses and healthcare professionals. So we asked them.
Across two research initiatives, more than 300 healthcare workers, mostly nurses, shared their experiences, challenges and priorities when it comes to their financial wellbeing.
The results were clear. Nurses are motivated to plan for the future but often feel unsupported by traditional banking that don’t understand the realities of shift work and time constraints that come with working in healthcare.
"It's getting harder to get ahead... with the current cost of living crisis"
Cost of living pressure is limiting progress
- 52% are spending more on groceries than a year ago.
- Over 40% are cutting back on personal care, gifts and entertainment.
- 50% rarely have money left at the end of the month.
"I'm not confident with... finance stuff and would love some support"
Confidence and financial knowledge gaps highlighted
- Over half lack confidence in achieving their financial goals.
- More than 60% rate their financial literacy as average or below.
- 70% are interested in improving their knowledge through accessible coaching.
- Top topics included building wealth, home ownership, understanding entitlements for healthcare workers and saving for retirement.
"As a nurse, banking can be difficult to manage around... long shifts, overtime, and unpredictable schedules"
Banking doesn't fit the realities of shift work
- Majority respondents said accessing support is difficult when banking still operates around traditional hours.
- For complex needs like home loans or retirement planning, most still prefer speaking to a person, highlighting the importance of both accessibility and human connection.
What nurses want from their bank
Support that fits their lifestyle
Nurses want their bank to work the way they do... with flexibility, personal connection and support that fits around shift work and real life.
They value human connection, convenience, and empathy.
Tools and guidance
That can help set them up for the future. They're looking for simple, clear ways to manage money with confidence.
Support that educates, empowers and builds momentum, not more complexity.
Communication that cuts through
Nurses are busy. The best ways to reach them are direct, clear and meet them where they're at... like their workplace.
We’re listening, and acting
These insights are shaping how Bank First shows up for nurses. We're designing real support, better tools and a genuine commitment to their financial wellbeing.