MtoM #186: Emergency Docs Get Back to Broke and Finance 101: Paying Off Your Mortgage

Sep 2, 2024

In this lively discussion, a dynamic duo of emergency doctors share their journey to financial stability while balancing their demanding careers. The female fellow and her partner, who is a year post-training, emphasize the value of family time over California's high cost of living. They reveal their secrets to success, like cheap hobbies and budget-friendly travel. Additionally, they discuss mortgage management strategies and the importance of open communication when creating a joint budget. Tune in to discover how they navigate the complexities of finance in healthcare!

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Intro

00:00 • 2min

Navigating Finances and Family in Healthcare

02:17 • 11min

Creating a Joint Budget: Values and Financial Guidance

12:58 • 2min

Smart Spending and Mortgage Management

15:00 • 7min

Navigating Mortgage Payments and Financial Advisory Fees

21:42 • 3min

This two emergency doc family is back to broke! They are focused on getting their finances right early and while she is the finance nerd they are both on the same page. She is still a fellow and he is one year out of training. They talk to us about why they have chosen to live in California. The biggest reason is that all of their family is there and they deeply value time with family. They said the high cost of living and the big tax bill is worth it for them. They shared that they are making so much more than their parents did and have more than enough to live the life they want. Their secrets to success include having cheap hobbies, most of their travel is low cost to visit and stay with family and having a reasonable budget and sticking to it. After the episode we will be talking about paying off your mortgage.

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