The Resident's Guide to Personal Finance

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The Resident's Guide to Personal Finance

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Anki decks, Sketchy, UWorld, AMBOSS, and four years of medical school—in no particular order— have prepared us to enter residency and care for the first patient handed to us.

But are we prepared for that first paycheck handed to us? Unfortunately, no.

Medical school excelled at educating us on the fundamentals of pathophysiology and patient care but failed at educating us on the basics of personal finance. Luckily, we’re smart people.

If we could excel in undergrad, nail the MCATs, matriculate into medical school, and make it through four years of rigorous medical education, then learning the basics of personal finance should be as easy as memorizing the different types of beta blockers.

Healthcare Huddle provides quick, easy-to-understand healthcare news and insights to doctors, nurses, PAs, and med students. Now, I'm helping residents understand and control their personal finances.

Here's what you'll learn in this guide:

  • The Basics: net worth, interest, debt, taxes, and net income.
  • Spending, Saving, and Investing: spending contributions, budgeting, paying off debt, insurance, spending tips, where to save, how to save, HSA and FSAs, the importance of investing, retirement funds, and investing strategies. •
  • Getting Started: Tips and tools for putting to practice what you learned in the previous two sections.

Meet the Course Author

Hi! I’m Jared, co-founder and writer for Healthcare Huddle.

I’m about to graduate from medical school in New York City and will stay in NYC for my internal medicine residency.

In January 2020, I founded HH to offer busy medical professionals, including physicians, nurses, PAs, and med students, valuable insights and analyses on critical healthcare trends that can enhance patient care. HH has since flourished and was acquired by Workweek Media in November 2021.

Nowadays, I devote my time to writing Healthcare Huddle articles and continuing my medical studies. Like you, I’m about to embark on the next part of my medical career, which includes making an actual salary. I haven’t made a salary before.

What the heck do I do with that first paycheck?

I’m sure many of you share similar concerns. So, I thought I could leverage my Healthcare Huddle strengths to break down complex financial information in a succinct, relatable, and understandable way to help you and me start our personal finance journey.

You can always contact me on Twitter or at Jared@healthcarehuddle.com with any questions!

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1.21 MB
21 pages
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