You have finally completed your training and are now practicing as a physician, dentist or veterinarian. Congratulations! Your years of hard work in school and training are finally paying off — literally. Receiving a substantial paycheck after years of less income can be very exciting, but this significant jump in pay can come with challenges. …
Veterinarians have a unique financial lifecycle. With significant debt from veterinary school and the potential for low pay in residency, there are many factors that affect the financial health of veterinarians and veterinarians-in-training. Understanding what is ahead and finding solutions for any challenges will allow you to navigate the road ahead with confidence. We share …
A Veterinary Student’s Guide To Job Outlook, Residency & Finances Read More »
Contract lawyers can be helpful if you are becoming an employee or partner of a large group or system. They can also help if you are a practice owner where complex legal agreements are common. These experts can help you review and negotiate the complexities of an employment contract when you are considering a new …
Hard credit checks are when a financial institution checks your credit before making a lending decision. These can negatively affect your credit score. Soft credit checks are when a company reviews your credit score for things such as background checks or pre-approved products and do not affect your credit score. There are special exceptions for …
Hard Credit Check Vs. Soft Credit Check: What Doctors Need To Know Read More »
President Joe Biden announced his decision on student loan forgiveness and the forbearance period Wednesday afternoon. During Biden’s presidential campaign, he promised to forgive a large chunk of the country’s loan balance. Since his inauguration, many politicians and borrowers have been pressuring the White House to follow through on this pledge. Here is what you …
Biden Forgives $10,000 In Student Loans: What Does This Mean For Doctors? Read More »
Choosing a practice lender and banking partner for your acquisition, startup or any other practice-related transaction is a very important decision. More than just rate, the relationship you are creating with your lending bank, the support and services they provide, and how their structure allows you to focus on what you do best — patient …
Finding A Practice Lender & Bank: Choosing Wisely Today For Your Practice Tomorrow Read More »
Student loan refinancing is when a private lender pays off your student loans and provides you with a new loan with different terms, often at a lower rate. Refinancing may be a good option when you want a lower interest rate, to change the repayment terms, or to reduce your number of monthly payments. Avoid …
Stress around your personal finances can negatively impact your ability to put patient care first. Financial stress has been identified as the second highest cause of depression among physicians. However, you can alleviate money-related stress and distractions by creating and managing a budget, gaining control over your spending, and planning for the future. As a …
Why Monthly Budgeting Is Critical For Doctors-In-Training Read More »
Emergency funds serve as a financial safety net for unexpected expenses or periods of unemployment. Both doctors and doctors-in-training can benefit from the financial security provided by an emergency fund, regardless of income. High-yield savings accounts can be a great place to allow your emergency fund to grow passively. COVID-19 put a strain on the …
CPAs can be incredibly useful for doctors with complex financial situations. CPAs can help doctors with tax preparation, financial planning and income tax advice. When choosing a tax preparer, be sure to verify their credentials, choose someone with experience with doctors’ finances, take note of their service fee structure, and conduct interviews before beginning to …
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