Financial Wellness

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Prioritizing Financial Health

Financial wellness takes financial literacy one step further by applying it to our own lives, rather than just learning about a topic. Overall financial well-being is an outcome of pursuing these positive financial behaviors.

Students should prioritize their financial health in school just like they prioritize their studies. Learning to manage money and create good financial habits while on a student income will help you properly manage your salary after graduation.

You can log on to AAMC Financial Wellness to take a financial health quiz to determine where your financial health currently is as compared to the U.S. average. Then, create goals and tasks to increase your wellness as you progress through school.

 

Utilizing a Budget to Meet Your Goals

A budget is a tool that helps you achieve your goals while in medical school. Whether that is planning entertainment funds with friends, preparing for residency interviews, or managing a salary after graduation, it is important to utilize a spending plan to achieve these goals.

Using a budget can help you figure out how much money you need to support your lifestyle, what you need in student loans, and if there are expenses that can be reduced or cut. You budget for the things you absolutely need, like tuition, food, etc. But you also get to budget for other fun things like eating out, trips with friends, and saving for a new car or laptop.

Use the below resource to plan for the entire school year at once!

Grab the Academic Year Student Budget

Additional Resources & Tutorials

Financial Literacy