Starting At Zero
The first goal for most doctors is to get back to a net worth of zero. It will be far easier to do that if you don't have any credit card debt and if you "go nuts" on your student loans for your first year or two out of residency.
Beginning your financial journey and learning about personal finance can seem awfully overwhelming. But instead of trying to solve the entire puzzle at once, it’ll be easier (for your mind and for your psyche) to break it down into sections that are more easily digestible.
The first goal for most doctors is to get back to a net worth of zero. It will be far easier to do that if you don't have any credit card debt and if you "go nuts" on your student loans for your first year or two out of residency.
I am an ordinary hard-working resident who has been blessed with the motivation to be debt-free. I attended a medical school in a high cost of living area (rent of $1700-1900 per month) with tuition a...
I think EVERYONE should own their own business. There are so many awesome benefits, and little downside. Here are some of the benefits I have experienced.
I'm answering Dr. Dahle's invitation for guest posts after someone suggested that his blog should feature more diversity in lifestyles. I chose the topic "How to be successful financially despite livi...
By Dr. Jim Dahle, WCI Founder A medical school graduate recently published an account of the financial disaster she is facing due to a failure to match into a residency program two years running. Afte...
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I have a confession to make. I'm not frugal. I used to be. In fact, I was pretty frugal for a good portion of my life. Maybe I still am in the view of many physicians, since I drive a 13 year old car...
[Editor's Note: I was invited to submit a guest post on the Sermo blog. So many of the posts on Sermo seem so pessimistic to me sometimes. They are full of whining, complaining, fretting, and venting...
Well this has been a fun week. It's not typical for me to have posts that generate over 100 comments on them, nor have my email box filled with hate mail about something I wrote. Lest I be accused of ...
I'm a big fan of debt-free living. Probably too big of a fan, actually. I know of at least one financial error I've made because of a general abhorrence of debt (can anyone say HPSP?) At this point in...
Should you go for forgiveness or try to refinance student loans? When should you pay off debt vs invest? Here are the 10 best ways manage your debt.
For those dissolving their marriage, if you follow these 4 to-dos, you will likely avoid the most common (and costly) mistakes people make with their use-property and retirement accounts during the separation of assets.
As a general rule, I recommend against residents buying a home for a number of reasons. However, there are exceptions to every general rule. More recently, I have become aware of a program that makes...
[Founder's Note: Those who are familiar with our financial journey are aware that my wife and I decided to forgo spending a great deal of our income in our first few years out of residency in order to...
A reader recommended Gregory Karp's Living Rich by Spending Smart to me. It is a great read and very useful for anyone having trouble saving 20%+ of their gross income. I cannot recommend the introduc...
Waiving your mortgage contingency may be worthwhile to make your offer more competitive, but be aware of the risk of losing your earnest money.
Medical school may not have taught you about money, but we will.
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Get ready to take control of your financial life. You can do this, and we can help.
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