How I Budget and Save for Every Travel Physical Therapy Contract

Budgeting for each travel physical therapy contract is crucial. For me, it is not about how much I make on a contract but what I can keep and invest in my future. Budgeting has been a key part of helping me save 60–70% of my income while still enjoying the freedom and flexibility that comes with travel PT life.

In this post, I’ll break down exactly how I plan my budget before each assignment, how I track my spending weekly, and how I leave room for both savings and fun.

You might think that saving 60–70% of my income means I don’t get to do a lot, but it’s actually quite the opposite. In 2025 alone, I’ve traveled to Canada, Key West, Idaho, Wyoming, the Dominican Republic, and taken several flights back home to Florida. I even got to see the Pacers in the NBA Finals! A big part of making this leisure travel possible (without blowing my budget) has been the strategic use of credit card points. Be sure to check out that section of the website if you’re curious how I make it work!

Step 1: Set a Savings Goal for the Contract

Before each 13-week contract begins, I sit down and decide how much I want to save during that time. I usually aim to save 60–70% of my total income, depending on the location, pay (net pay after benefits are taken out), and my upcoming goals.

Once I know my savings target, I subtract it from the total income I expect to earn over the course of the PT contract. This tells me how much I have left to work with for all expenses and discretionary spending.

Step 2: List All Fixed Expenses

Next, I list out all my fixed expenses. These are things that don’t change much from month to month. This includes:

• Housing (including duplicating expenses to maintain my tax home)

• Car insurance

• Phone bill

• Gym membership

These are non-negotiables, so I build my budget around them first.

Step 3: Estimate “Almost Fixed” Expenses

Some expenses aren't technically fixed, but I’ve developed a good feel for how much they cost month to month. I treat these as fixed in my budget to make planning easier. These include:

• Groceries

• Gas

They might fluctuate slightly, but I build in a consistent amount for these categories because I’ve tracked them enough over the years to know what’s typical (even with inflation).

Step 4: Budget for the Inconsistent Stuff

Now comes the fun (and sometimes tricky) part, which is budgeting for everything else. I call these my discretionary expenses, and they include:

• Travel and weekend trips

• Eating out and getting drinks

• Amazon purchases

• Sporting events or entertainment

• Car maintenance

• Gifts for family/friends and donations

Even though some of these aren’t necessarily “fun”, I lump them together as flexible spending because they don’t happen on a predictable schedule.

Step 5: Weekly Spending Limit

Once I’ve accounted for savings, fixed expenses, and estimated costs, I take whatever money is left over and divide it by 13 (for a 13-week contract). That number becomes my weekly spending limit for discretionary expenses.

Some weeks I might go over that amount — maybe I take a weekend trip or have a few more dinners out. When that happens, I just spend less the next week or two to stay balanced. But it’s not about perfection, it’s about awareness and flexibility.

Life happens, and sometimes unexpected expenses can make it harder to reach your savings goal — and that’s okay. The important thing is to learn from each contract and make adjustments as needed. If necessary, you can set a more realistic savings goal for the next one.

Final Word

You may have a goal of saving 15-20% of your income, which is an excellent target. I’ve been fortunate not to have any major loans to repay, and I’m able to split rent expenses, which helps stretch my budget even further. Plus, I’ve developed a frugal mindset after being broke for so long in college.

This system isn’t fancy, and it doesn’t require a complicated spreadsheet. It just takes intentional planning before each contract and a bit of discipline week to week. By doing the math upfront and being realistic about my needs and wants, I’ve been able to save a significant portion of my income while still enjoying my time on assignments.

If you're a travel therapist looking to make the most of your earnings, I hope this blog gives you a helpful framework to build your own budget plan.