5 Best Budgeting Apps for Doctors
The Motivated M.D Blog
by The Motivated M.D.
4d ago
Table of Contents Mint The pros of Mint The cons of Mint YNAB (You Need A Budget) The pros of YNAB The cons of YNAB EveryDollar The pros of EveryDollar The cons of EveryDollar Goodbudget The pros of Goodbudget The cons of Goodbudget Personal Capital The pros of Personal Capital The cons of Personal Capital Take home points Creating a budget from scratch can be difficult.  Individuals who have never created a budget think the process is simply tracking your purchases and what gets deposited into your account…it’s much more complicated than that.  A household (or ..read more
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Our Loan Repayment Progress in 2023
The Motivated M.D Blog
by The Motivated M.D.
6d ago
Table of Contents Why we refinanced our student loans Making ourselves ineligible for PSLF Our debt elimination plan What occurred in our original article Our original (2022) loan repayment progress Debt elimination is a marathon, not a sprint Our final grace period payment Re-amortization The importance of making payments during training Interest matters… Our loan repayment progress in 2023 Negotiating loan repayment Future debt elimination plans Take home points In April of 2022 I published a post that revealed exactly how my medical education debt repayment is going.  ..read more
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12 Best Financial Tips for Interns and Residents
The Motivated M.D.
by The Motivated M.D.
2w ago
In case you missed it; I have recently decided to create a series of posts around the best financial tips for each stage of medical training.  If you want to start from the beginning, then make sure to check out the 11 Best Financial Tips for Pre-Med and Medical Students.  That post was a great entry point for individuals in undergraduate education or early in their medical school careers.  However, this post (as the title suggests) is primarily targeted at those in internship and residency training.  For individuals who recently graduated medical school, congratulations!&n ..read more
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11 Best Financial Tips for Pre-Med and Medical Students
The Motivated M.D.
by The Motivated M.D.
3w ago
Getting into medical school is a huge accomplishment.  The journey to becoming a qualified physician is arduous.  Despite all your effort to acquire the knowledge necessary to be a great doctor, managing your finances is equally as important.  There are many stages to a doctor’s education.  These include medical education, internship training, residency, fellowship (for some), and attending-hood.  Each and every one of these stages has its own academic challenges.  I would argue that each of these stages simultaneously has its own financial challenges.  How y ..read more
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12 Best Personal Finance New Year’s Resolutions
The Motivated M.D.
by The Motivated M.D.
1M ago
Facing the new year can be both restorative and anxiety provoking.  It has become a cultural expectation to have resolutions at the start of each new year.  Often these resolutions are marked by fitness expectations, dietary goals, and financial aspirations.  Though goal creation can be great, if it is not framed correctly, it can set you up for failure.  This year, focus on achievable goals.  From budgeting to starting a side gig.  Here are the 12 best personal finance new year’s resolutions! Table of Contents 1. Create a budget 2. Build an appropriate emerge ..read more
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The 8 Best Passive Income Ideas for Doctors
The Motivated M.D.
by The Motivated M.D.
1M ago
Table of Contents ‘Passive’ doesn’t always mean passive Earn money while you sleep 1. Invest in dividend stocks and bonds An example of dividend investing 2. Real estate investing 3. Real estate investment trusts (REITs) REITs can offer tax advantages 4. Real estate crowdfunding 5. Peer-to-peer lending 6. Become a blogger If you build it, they will come (probably) 7. Create a digital product E-books, podcasts, courses, and apps 8. Become an influencer Take home points Creating passive income is a must if you want to create financial security.  As a physician, it can s ..read more
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How to Make Money Blogging as a Doctor
The Motivated M.D.
by The Motivated M.D.
1M ago
When I started my blogging journey, I had three goals in mind.  First and foremost, I needed an outlet for my thoughts.  I was bombarding my wife with thoughts on personal finance, debt elimination strategies, and side hustles.  She was excited about my passion, but I can overindulge sometimes.  This was the platform that I needed to funnel my ideas.  Secondly, I wanted to challenge myself to create something valuable that would be helpful to others.  Not strictly doctors and those in the healthcare professions, but anyone who cares about their finances and wants ..read more
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Current Sponsors
The Motivated M.D.
by The Motivated M.D.
1M ago
The following sponsors help support the website in a number of ways. First and foremost, it is through their sponsorship that we are able to keep the website free from targeted advertisements from larger digital marketing services. This offers a cleaner and more enjoyable experience for our readers. Secondly, I try to only accept sponsorships from individuals, parties, and companies whom I endorse. Thank you to all the following sponsors who help keep this site going strong! If you are interested in becoming a sponsor of The Motivated M.D. then please click here to learn more about sponsorship ..read more
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10 Best Physician Side Gigs
The Motivated M.D.
by The Motivated M.D.
2M ago
I write a lot about the importance of generating multiple streams of revenue.  Despite being a physician, which generally is associated with a high income, that does not offer the level of security I wish for my finances.  Though my day job can be lucrative, it is far more important to create different avenues of cash flow and passive income to combat economic hardship.  As such, I think side gigs can be great for anyone, including physicians.  However, it is important to note that a physician’s time is an expensive commodity.  If you choose to pursue a side gig, it ne ..read more
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Allow Me to (re)Introduce Myself
The Motivated M.D.
by The Motivated M.D.
2M ago
You may consume my content, but you likely haven’t heard my story. From burnt out and overwhelmed by debt to reaching the financial mountaintop, here is my story. Allow me to (re)introduce myself: $670,000 That is how much combined medical education debt my wife and I owed after graduating medical school.  I was roughly 25 years old when I understood the colossal burden of debt we had accumulated as a result of our chosen career path.  We spent years romanticizing the idea of our altruistic selves helping those in need.  What no one ever explained to us was the cost o ..read more
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