Docs Outside The Box Top 6 Money Tips after Graduating from School #363
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On the verge of graduating from med school and want to get your finances in order from the get go? Tune into today’s episode to learn our top 6 money tips for making your money work for you not just after graduation but for the rest of your life.
In this episode, we discuss:
[3:37] Elmhurst Hospital strike update
[5:31] The inspiration behind this episode
[9:58] Make sure you’re aware of the stipulations behind any sign on bonuses
[13:26] Money tip #1: Determine your salary, where you’re going to be living, and use ADP Salary Calculator to get your take home pay
[16:58] Money tip #2: Figure out how much you’re able to spend on rent
[23:59] Money tip #3: Factoring in your student loan debt into your monthly expenses
[30:47] Money tip #4: Determine what your expenses are aside from rent + student loans
[34:49] Listener question: What challenges do you see yourself or other doctors facing in regards to saving, investing, retirement planning, tax planning, and estate planning?
[39:51] Money tip #5: Start protecting your money
[55:02] Money tip #6: Create an emergency fund for any left over money
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