Financial planning is comprised of the six decisions people make with their money. Physicians need to make decisions as to how you earn, spend, save, borrow, give, and protect yours. Home buying typically touches on all of the six money decisions.
Home buying often begins with a mortgage, so you will have to make decisions about borrowing money. You also must earn money or at least have the potential to earn …
Home buying tips for physicians
As a medical student, you are thrilled to start your residency and to put your four years of studying and clinical rotations to the test. Now the time has come to begin earning a paycheck. This is the beginning of the financial stages of physicians.
As an attending who has transitioned into practice, you may be stressed and wondering if you are on track to meet your financial goals. You are …
4 financial stages of physicians
A budget is a guide that helps you increase your awareness of where your money is going and how much you are saving. It’s important to develop a budget early on as part of a strong financial foundation. It’s a common misconception that budgeting gets easier when you have more money. As the rapper Notorious B.I.G. famously said, “Mo’ money, mo’ problems.” Why is it important to develop a budget …
4 tips for starting a budget in residency
Financial planning may not be what you think
Financial planning means different things to different people. To some, it may simply mean investments; to others, insurance; to others, a Swiss bank account, and a private jet. We believe that, at its roots, financial planning is simply making smart decisions about your money with your goals in mind. We’ve broken it down into six decisions you need to make about your finances that apply …
6 money decisions for physicians
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