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Writer's pictureMolly Fiander RVN

Can you invest as a locum RVN?

In today's dynamic petcare landscape, many RVNs are embracing the locum lifestyle, relishing the flexibility and diverse experiences it offers. However, a common concern in this work arrangement is whether you can invest effectively while working as a locum RVN?


The answer is a resounding yes!


This blog will guide you through the unique financial opportunities and challenges faced by locum RVNs. Along with guidance on how you should start small, prioritise consistency, and utilise investment strategies that align with your financial situation. To achieve this, we've put together the following and strategies to help you get started:



Create a Budget and Track Expenses

Understanding your cash flow is crucial. Create a budget that tracks all your income and expenses. Identify areas where you can cut unnecessary costs to free up some money for investing.



Build an Emergency Fund

Before you start investing, ensure you have an emergency fund to cover at least 3-6 months of living expenses. This fund will provide a financial cushion and prevent you from having to sell investments during emergencies.



Start Small and Be Consistent

You don't need a large amount of money to start investing. Even small amounts can grow significantly over time with compound interest. Aim to invest a small, consistent amount regularly:


Micro-Investing Apps: Platforms/Apps allow you to start investing with as little as a few pounds by rounding up your everyday purchases and investing the spare change.


Check out Moneybox (not an ad) 


Automatic Contributions: Set up automatic transfers to your investment account, even if it’s a small amount, to ensure consistency.



Use Tax-Advantaged Accounts

Utilize accounts like ISAs (Individual Savings Accounts) in the UK, or IRAs and 401(k)s in the US, which offer tax benefits that can enhance your savings and investment returns.



Diversify Your Investments

Diversification helps manage risk. Consider low-cost index funds or exchange-traded funds (ETFs) that provide broad market exposure. These are often more stable and require less capital than individual stocks.



Educate Yourself

Learn about different types of investments and how they work. Resources such as books, online courses, and financial news websites can provide valuable knowledge.


Make sure you are following @thisvetcan ! 



Invest in What You Know

Start with investments that you understand. If you’re comfortable with certain sectors or companies, begin there and expand your knowledge and portfolio gradually.



Seek Professional Advice

Consider consulting with a financial adviser, even if it’s just for a one-time session to help you develop an investment strategy tailored to your income and goals. 



Stay Disciplined and Patient

Investing is a long-term game. Stay disciplined, avoid making emotional decisions based on market fluctuations, and be patient to let your investments grow over time.



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