Aside from long hours and lots of studying, the other guarantee in medical school is financial stress. Unless you are fortunate enough to have a spouse whose medical education is paid for and you have funds from family or a job that will cover both of your living expenses, you’ll be on a tight budget and accumulating massive amounts of debt. That debt will be large enough to change your financial planning and lifestyle both now and for years to come.
So how do we put ourselves in the best financial position now and plan for the future? And how do we still enjoy life now during these lean years? It’s worth it to start talking about finances now!
Amy Rakowczyk is a medical spouse, mother, writer, singer, and former voice instructor. She currently resides in Galveston, TX with her husband and two young daughters. She enjoys helping other spouses navigate the world of medicine and actively participates in support groups and activities. Her husband is a Family Medicine resident at UTMB Galveston and did his medical training at The Ohio State University.
She is an author of a chapter of Career and Life Planning Guidebook for Medical Residents: The best part of your journey is about to begin (10th Edition)