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Budgeting & Financial Planning

This is a picture of a doctor walking through a hospital to represent job changes for doctors.

Considering a Job Change? Here’s What Doctors Should Know

Deciding to leave one job for another can be a big life change. Whether making this decision because of advancement opportunities, desire for a new location, or dissatisfaction with your current role, consider these things before you make the leap. Are doctors changing jobs?  From 2020 to 2022, 46% of physicians changed jobs, according to …

Considering a Job Change? Here’s What Doctors Should Know Read More »

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What is the Average Dentist Salary?

According to the U.S. Bureau of Labor Statistics, the mean annual wage for dentists was $160,370 as of May 2021. Delaware is the highest paid state in the U.S. for dentists with a mean annual salary of $233,860. With a mean annual salary of $311,460, oral and maxillofacial surgery is the highest paying dental specialty. …

What is the Average Dentist Salary? Read More »

This is an image of a periodontist using a model of a mouth to explain a dental procedure.

Personal Finance 101 for Periodontists: Salary, Practice Ownership & More

Periodontists face financial challenges from school to practice, but having an understanding of personal finances and ways to improve or invest in yourself can make all the difference. In this article, we share how these financial challenges may affect you as a periodontist, what you can expect in a salary, and what you should know …

Personal Finance 101 for Periodontists: Salary, Practice Ownership & More Read More »

This is a photo of a person looking at bills and income statements. | Debt-to-income ratio

How Does Debt-to-Income Ratio Affect Doctors?

Medical, dental and veterinary professionals endure years of education and training to be well equipped to serve their patients. Despite the years of learning, doctors often graduate with little financial knowledge. This lack of knowledge can be detrimental to doctors’ long-term financial health. One financial concept that doctors will encounter often as they search for …

How Does Debt-to-Income Ratio Affect Doctors? Read More »

How Can Doctors Avoid Lifestyle Creep?

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. …

How Can Doctors Avoid Lifestyle Creep? Read More »

interest rate

What the Fed Rate Hike Means for Loans, Credit Cards & Savings

Inflation has reached a 40-year high, increasing 8.3% over the past 12 months. Americans have been feeling the effects of this with more costly groceries, gas, rent and more.  The Federal Reserve is aggressively raising rates in an attempt to slow spending, cool the economy and reduce the worst inflation since the 1980s. The Fed …

What the Fed Rate Hike Means for Loans, Credit Cards & Savings Read More »

credit check

Hard Credit Check vs. Soft Credit Check: What Doctors Need to Know

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 »

student loan refinance

A Doctor’s Guide to Refinancing Student Loans

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 …

A Doctor’s Guide to Refinancing Student Loans Read More »

monthly budgeting for physicians

Why Monthly Budgeting is Critical for Doctors in Training

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 »

This is a photo of a piggy bank, representing an emergency fund.

A Doctor’s Guide to Building an Emergency Fund

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 …

A Doctor’s Guide to Building an Emergency Fund Read More »

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