Personal Finance Tips for Healthcare Professionals

personal finance

Medical school, graduate school, dental school, any graduate or professional school: they are all expensive! … Read more

Get a Top Score on the MCAT for Less Than $300


Many MCAT prep companies will try to sell you on the idea that you need to spend thousands and thousands of dollars on a fancy prep course with all its bells and whistles in order to get a top score on the MCAT, but this just isn’t the case. We carefully analyzed the experiences of students that scored above the 95th percentile on the MCAT and looked for patterns in their preparation, and our analysis revealed that the students who performed well weren’t necessarily the students who spent the most money on a prep course. In actuality, top scorers use a variety of low-cost resources. And this actually makes perfect sense. Think about it. Every MCAT prep company has a single (likely slightly inaccurate) perspective regarding the most important concepts to know for the MCAT. By preparing using a variety of materials, you will gain several perspectives on the material, which when combined together provide you with a much more accurate picture of the MCAT.

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Chronicles of a Med Student: All Aboard the Financial Struggle Bus

Chronicles of a Med Student

I remember the sheer joy of ripping open the letter that granted me a medical school spot. Everything was roses and rainbows, and I was thrilled that my dreams were coming true. This cute little fantasy carried on until I received the tuition numbers a few weeks later . . . wow. I had no money, and I was being expected to pay how much? Regardless of what you hear from other people about how doctors make enough money to quickly pay back their debt, those five digits after the dollar sign per year are still scary.

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If I Had a Million Dollars (But I Don’t)

Someday, after years of school (then more school) and residency training, we will start earning doctors’ salaries. In the meantime, finances can be tight, but there are ways to cut costs, optimize the money you do have, and maybe even bring in a little extra on the side.
There’s an old moniker you can’t change what you don’t acknowledge. It’s hard to make a budget if you don’t know what you’re spending currently. Take a few weeks and keep track, ideally a full month. Write down everything, regardless of how you pay for it – cash, check, credit card, bitcoin. . . Even if you have a 0% interest credit card and won’t be paying it off for a while, write it down. Then, consider your monthly income. If you’re ending the month in the black – congratulations! You’re on the right track. You may still want to decrease your expenses to reduce your overall loan burden. If you find your monthly cost of living exceeding your income, it is definitely worth your while to take a hard look at what you’re spending and how to cut back.

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