Should doctors have a budget?Dec 01, 2021
As a doctor, does the word “budget” spark a sense of dread? Your days in Residency were the epitome of frugality but now that you’re an attending, the financial responsibilities have piled up. When you look at paying off your student loans, investing for retirement, saving for college, paying down your mortgage and even taking a vacation, you might begin to think you need a budget. If you don’t have one, does that mean your goals won’t become a reality? Maybe not. You know budgets are a plan to spend money and to manage day-to-day finances, but does a budget go beyond just the numbers? Listen for an informative discussion around the practical use for budgets. Learn about alternatives to a budget, how to make a savings plan, and the benefits of a wish list.
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IN THIS EPISODE
- [00:34 ] What is a budget?
- [01:21] How do people budget?
- [02:42] Is budgeting possible?
- [03:44] Why would you create a budget?
- [05:10] Why do doctors want to budget?
- [10:00] The savings mindset and how to create a savings plan.
- [13:00] What is the wishlist plan?
- [15:28] How the wishlist plan works.
- [20:25] Should doctors have a budget?
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