Finance – Page 5 – Physician In Numbers

Lessons Learned From My Spending As A New Attending

Match Day has come and gone. It’s time to think about next steps as everyone still in training moves on to the next level.

Fourth year medical students know where they will be going in June.

Residents who are going on to fellowship have known about their next destination for a few months.

Those finishing training in 3 months will (hopefully) be moving on to a practice that excites them. And pays a lot more than a resident salary.

The move from resident to attending salary holds plenty of opportunity: to spend more, to save more, to make plans that can affect your financial life for years to come.

When I graduated residency, I did not have a very clear plan for my finances. There really wasn’t much out there to guide people who were going to see a large increase in income.

I muddled along, making some good moves, and some not-so-good moves. I periodically look back at the choices I made, and I thought I might share some lessons I take away from my spending at that time, in the hopes it helps you make your own plans (or maybe let you know you are not alone if you have made similar choices yourself).

Random Money Thoughts From January

The blog was quiet in February, but that doesn’t mean I had stopped writing altogether. Below is a post that was mostly finished in January, but had to wait for its final edit.

When you think and write about personal finance, every day life provides plenty of grist for the mill. Here are a few examples I noted from the end of the month.

Money Lessons From My Dad, Redux

In memory of my Dad, I am republishing this post from 2021. I expect the blog will be quiet for a few weeks.

A Look Back At 2022

Happy New Year!

Before I start thinking about hopes and plans for 2023, I do want to reflect a bit on the year that has just ended. It ended with tough times, but I don’t want that to be the only thing I remember about the year.

A winged angel, with pink dress, blue overdress, and a white scarf. — This angel should be bringing tidings of joy.

The Flip Side Of Money And Medicine

I think about money and medicine a lot, and write about them often here. My writing usually focuses on the practice of medicine and saving money.

This post is a little different.

The past week or so has been spent away from home, watching other people practice medicine on my Dad, while I spend money like water.

While I deal with all the challenges this week has presented, I have had the opportunity to reflect on how my pursuit of FI (financial independence) has helped–or not–during this time.

Giving: Thanks And Money

I know we are supposed to think about what we are grateful for in time for Thanksgiving. To, you know, give thanks for what we have.

However, the events of the past few days brought up a number of ways that I am thankful–and they all occurred on or after the holiday. I figure giving thanks is always okay, even if it seems a little late.

Being thankful for money seems awfully tacky, but I am particularly thankful for some of the opportunities that pursuing financial independence allowed me.

One of the great advantages of having a little (or a lot) of extra money is the chance to make other peoples’ lives a little happier. For which I am also thankful.

Six Benefits I Received From My Donor Advised Fund

One year ago, I opened up a Donor Advised Fund (DAF). I wrote here about the reasons I choose to do so, along with some practical tips on setting it up.

I thought this might be a good time to talk about the real benefits I have received (being totally selfish), in the hopes that I might inspire someone to consider setting up their own DAF.

Car Calculations: Renting Vs. Buying

If you have been following the blog for a while, you may remember that we are a one-car family. And that our singular car has been paid off for just over a year.

This was the first ever brand-new car for me and for Mr. PiN, and I had hoped to keep it for at least 8 years, maybe 10, before having to think about replacing it. We were definitely not planning to buy a new car this year.

What To Do With Some Extra Cash

Do you have a pile of cash sitting around, earning 0.001% interest at your local bank?

Is this money you may need to use in the near future, possibly your emergency fund? Or money earmarked for a purchase relatively?

I want to give a tip of the hat to Kevin at Financial Panther, who highlighted a bonus with Discover Savings Bank.

Future Me, October 2022

I started this series of posts at the end of October 2018. I had just cut back my hours, and wanted to use my new free time wisely. Some of that time was to relax, but I also wanted to improve my fitness, make my home a more pleasant place to stay, and work on becoming a more well-rounded human being.

Over time, I also been thinking about these projects as preparing for retirement life, though that might be years away. Building a better life now, and getting ready for a life without scheduled work, seem worthy of my attention and efforts now.

My last update was in June 2022, after a 6-month gap; I am hoping that more frequent updates will keep me on track.

So, what progress did I make over the past 3 months?