Managing debt and wealth: Basic budgeting

By | January 22, 2018

Budgeting your income can prepare you to effectively manage your student loan debt, leaving you with more options during your first years as a practicing dentist. Follow these key strategies and build a foundation for financial success.

Track your spending — Count every penny you spend, and think of every borrowed penny as five.

Budget based on actual income — Don’t budget based on projected income and projected expenses; review and adjust your budget every time you get paid.

Work your budget — Make it part of your routine; every week or two, spend 30 minutes reviewing your accounts and updating your budget.

Avoid spending traps — Impulse shopping, save and splurge cycles, and “you deserve it” marketing tactics are notorious budget-killers.

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3 thoughts on “Managing debt and wealth: Basic budgeting

  1. Pingback: Managing debt and wealth: Basic budgeting - DENTAL COUNTRY

  2. Od. Luis Marcano

    Thanks for the infographics, I find it very useful

    I think that budget, money, expenses, are neglected subjects in Dental School

    But we need to take responsability and start working to change that flaw in our training,

    Continuing Education is available for everyone, so, we´d do well if we hurry up and start learning about budgeting

    Best wishes from Caracas, Venezuela

    Reply

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