Tag: Budgeting
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Investment Strategies for High Income Earners to Grow Wealth
As a high-income earner in healthcare, I know firsthand how overwhelming it can feel to navigate the world of investing. Like many, I once thought that simply earning a great salary would ensure financial success, but I quickly learned that’s only part of the equation. Real wealth comes from making your money work for you—smartly…
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Understanding Resident Doctor Salary: What You Need to Know
The resident doctor salary varies by location, institution, and year of training but does not vary on one’s specialty. So make sure to do your research!
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Who Qualifies for Physician Mortgage Loans? A Quick Guide
Wondering who qualifies for physician mortgage loans? These specialized loans are designed for medical professionals, offering low down payments and no PMI.
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7 Personal Finance Books Every Healthcare Professional Needs
Managing personal finances can be a daunting task, especially for us healthcare professionals who are often busy with our demanding schedules. From medical school debt to planning for retirement, the financial journey of a medical professional is unique and requires tailored advice. Fortunately, there are several excellent personal finance books that can help you navigate…
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Spaving Hacks: Save Money Wisely as a Healthcare Professional
When was the last time you bought something that seemed like a good deal because it was “Buy 1, Get 1 Free?” In our world of healthcare, where time is a luxury and finances can often be stretched thin, a new term has emerged in personal finance: spaving. Short for “spending to save,” spaving encapsulates…
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How to Create a Budget During Medical Training
I started setting up a financial budget since I was in college. Having a limited income through some grants, a part-time job at my college health center and some student loans made it necessary for me to have a budget. As I transitioned into medical school, I continued that mindset of knowing I still have…
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HSA Benefits for Doctors: Tax Savings and Investment Growth
I did not have any access to employer-based retirement accounts until I was a Fellow Physician. I knew nothing about these very foreign concepts until I decided to look into more closely. As I’ve learned, one of the best financial tools out there for increasing wealth is the Health Savings Account (HSA). HSAs provide a…
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Why I Pay My Credit Card Bills In Full Weekly
I always had a funny relationship with credit cards as a medical student. I didn’t like the idea of debt but it was also a necessary tool given the limited income I had at the time. The stress and demands left little room for personal financial management. One strategy I’ve found particularly effective is paying…
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Unlock Savings: Why Online Shopping Portals Can Empower You
As a practicing physician, my days are often long and unpredictable. Between patient care, charting, and the constant demands of the job, I know how precious time is. Over the years, I’ve learned that the right tools can make all the difference—especially when it comes to shopping. Online shopping portals have been a game changer…
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Smart Money Moves: Advice For Med Students
Here are some practical advice for med students from a physician: study smarter, stay motivated, and thrive through medical school challenges.
