How I Saved 40k in 5 months as a Travel Physical Therapist

Back in late 2022, I received an offer in Indiana for a travel physical therapy contract in a hospital outpatient setting, with a take-home pay of $2,500 per week after taxes. I accepted the job in a heartbeat without negotiating, knowing it would be filled quickly. On top of that, it was a true 1:1 outpatient position where I averaged about five patients a day, providing excellent work-life balance.

I was warned about the harsh Indiana winters, but the money and the job spoke for themselves. I knew I would be in the middle of nowhere, but this was fine by me since I could travel to nearby cities like Indianapolis, Chicago, etc. I still had a lot of energy after my workdays, so I utilized this opportunity to gain additional income. I DoorDashed and donated plasma to boost my earnings, and I also had a small amount of online personal training income. On top of that, I worked about one weekend a month back in Florida at my prn job as an acute care PT when visiting family and maintaining a long-distance relationship. I tracked my expenses using my budgeting strategy. In short, I set a weekly limit on discretionary spending (after accounting for fixed expenses) to stay on track with my savings goal.

I still had plenty of time off to enjoy and balance out my work life. I took weekend trips or longer to Milwaukee, Detroit, Mobile, AL, and Nashville. I also spent Christmas with family and celebrated New Year’s in Chicago. After the first three months of the contract, I took a week off for a ski trip to Colorado. Although it might seem like I spent a lot with all these trips, I used credit card points for flights and lodging to offset much of the cost.

Upon extending my contract, I negotiated an additional $100 per week. I was later offered another extension after the five months, but I was ready to move on despite the high pay rate. I also took a 10-day vacation right after the five months ended, and afterward, I wanted to spend time back home with family and work PRN before starting my next assignment.

Overall, the cost of living in Indiana was fairly low, which helped my savings rate. I paid $1,400 for a three-bedroom, two-bath house, which included all utilities, TV, and internet. I was even able to negotiate a better deal on rent for the last several weeks of my stay. When I wasn’t traveling out of town, I tried to be frugal, limiting myself to eating out only once or twice a week. However, Indiana does have both state and local income taxes, which reduced the amount I could save compared to a more tax-efficient state.

This was one of my favorite contracts, regardless of the pay and savings I accomplished. I really enjoyed my co-workers and the laid-back environment. I had excellent work-life balance that kept me refreshed, and I was approved for all the days off I requested without question.