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Welcome to this session of grand rounds, a collection of posts I have discovered in the blogosphere and have found of interest and hope you do too.
This offering of Grand Rounds looks at articles from around the web that deal with issues of being in debt.
The general public knows that it takes a lot of training to become a physician.
What they do not realize is that not only is there a time sacrifice, but there is also a financial sacrifice.
Instead of graduating college and then earning money, the majority of physicians-in-training find themselves not only postponing a paycheck but also having to borrow money to cover medical school costs.
As tuition increases and medical reimbursements decrease there will come a time when future doctors have to ask themselves if it is worth it.
Life Of A Med Student gives an idea of the debt potential physicians are facing in, “Medical Student Debt Report: 2020 Update.”
Unfortunately the money coming into our households is finite.
It would be amazing to be able to pay off all your debt in one shot while still maximizing your investment accounts.
But for the majority of us, we are faced with a choice of where to place our precious dollars.
The Darwinian Doctor addresses this dilemma in, “Invest in assets or pay down your student debt?”
You may have heard that there are two types of debt, good or bad.
It seems strange because given a choice of owing someone money or not, most would choose the latter, indicating that all debt is bad.
Well The Prudent Plastic Surgeon helps you decipher debt that help to elevate your financial situation versus that which drags you down in, “The Important Difference Between Good and Bad Debt for Doctors.”
Despite some of my debt being classified as good, I still chose to pay it off as rapidly as I could, finally becoming debt-free in April 16, 2015.
I truly felt that day marked a turning point in my financial path and helped confirm that the path I chose was the right one for me and giving me opportunities I would not have taken later.
Financial Success MD agrees with me in the article, “The Great Advantages of Living Debt Free.”
After reading that previous article you may find yourself wanting to get out of debt too.
Just like body weight, it is much easier to pack on the pounds/debt than it is to lose it.
Fear not, The Female Professional has collected some tips to get you on your way in, “How To Get Out Of Debt: 13 Expert-Backed Steps For Success.”
Hope you enjoyed the reading material.
Have a great rest of the week.
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Even a steadfast DIY’er can sometimes gain benefit from the occasional professional input.
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