Managing Debt

  • Overcoming 5 common hurdles that keep residents from saving money

    Overcoming 5 common hurdles that keep residents from saving money

    After investing so much time and money in medical school, you are no doubt finding residency to be a life-changing start to your professional career. While your paycheque may not be large right...

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  • Should medical residents start saving or pay down debt?

    Should medical residents start saving or pay down debt?

    Most medical students in Canada today will finish school and enter residency with debt, with 46% owing $100,000 or more.1 Residency is often the first chance for physicians-in-training to start...

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  • Medical Residents: Your Top 10 Questions About Lines of Credit Answered

    How is a Medical Student and Resident Line of Credit different from a student loan? Lines of credit and student loans each have two parties: a borrower (that’s you) and a lender. ...

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  • How Getting Through Med School Is Like Summiting Everest, and Four Simple Rules That Can Help

    The path to becoming a physician can be like climbing Mount Everest. It demands unquestioning dedication and effort—but the reward is the fulfillment of a major personal goal.

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  • How much will med school cost?

    Find out
  • How to Prioritize Your Goals

    Residency: you’ve accomplished so much to get to this stage. As you approach the end of your medical training, you’re probably thinking about all the things you need to do, including setting up...

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  • One Resident’s Plan to Get Financially Fit

    When Dr. Sarah Liu (not her real name), 26, graduated from the School of Medicine at Queen’s University in 2016, she was shocked to find her debt had grown to $100,000. While this was in line with...

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  • 5 Tips for Reducing Your Travel Costs

    5 Tips for Reducing Your Travel Costs

    Medical school can be expensive for many students, so it’s wise to manage your expenses and cut costs where you can, including travelling costs. Whether you are going to see family or friends,...

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  • New Physicians: It Pays to Save Early

    New Physicians: It Pays to Save Early

    As you’re establishing your career, you may not have a lot of money to invest. You may also be facing a large student debt. The one advantage you have is time. When you save and invest money, it...

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  • Will med school debt derail this student’s goals?

    Will med school debt derail this student’s goals?

    “David,” 24, is borrowing a lot of money for medical school. But a solid plan provides peace of mind.

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  • Financial advice helped this client recover from one financial mistake, and avoid another

    Dr. E counts himself among the lucky ones. After overcoming a financial setback in his early 40s, he nearly made a colossal mistake a decade later that could still be affecting him.

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  • Can a young physician start a family and avoid debt?

    Dr. B, a 29-year-old family physician in Quebec, worries about balancing maternity leave with her financial goals.

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  • Is incorporation the right choice?

    Dr. A, a 37-year-old family physician in Toronto, wonders whether incorporation is a worthwhile strategy.

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  • Tackle Your Debt by Managing Your Cash Flow

    To tackle your debt, start with a plan, get to know your net cash flow, follow this debt reduction plan: analyze your monthly cash flow, set your debt-reduction targets, create and monitor your plan.

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  • Pay Down Medical School Debt or Invest? Five Steps to Finding a Balance That Works for You

    For a physician new in practice, like you, paying down debt versus investing is an important consideration when deciding whether to invest in a registered retirement savings plan (RRSP) or...

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  • What’s your net worth?

    Add it up
  • Reducing Your Debt: Key Questions and Answers

    Reducing Your Debt: Key Questions and Answers

    What are some tips for reducing your debt? Learn more about debt consolidation, credit reports, credit history, credit scores and whether you should pay off debt or invest.

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  • Plan “D”: Your Post-Divorce Financial Plan

    Many people think physicians are more likely to be divorced than people in other professions—perhaps due to physicians' long hours and stressful work. However, recent data from the U.S. suggest...

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  • Five Financial Topics Every Couple Should Discuss

    You’ve found your romantic match, but are you financially compatible? Talking about money can be hard—but it’s one of the most important conversations a couple should have. Discovering how your...

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  • Easy Spring Cleaning Tips for Your Finances

    One of the pleasures of spring cleaning is the feeling of getting a fresh start. Most people associate spring cleaning with their homes, but your finances could also benefit from some sprucing up....

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