Finances can be a great source of stress for veterinarians. Between paying off college debt, keeping up-to-date on daily expenses, and trying to somehow set money aside for future retirement, the competing demands can sometimes seem impossible to manage. If your self-care plan includes trying to have a more active social life or take a vacation, that can threaten to add to the stress.
If finances are a significant stressor for you, then an important part of your wellbeing plan should include making improvements in this part of your life. This could mean seeking a different job with higher pay, or even a career change into a different area of veterinary medicine or out of the profession altogether. But there are smaller steps that can make a difference as well – from budgeting, to seeking a deferment of your student debt, to running more errands on your bicycle or on foot. Even making a will might give you a sense that you are regaining control in this area.
How AVMA Can Help
Personal Financial Planning Tool – Build a personalized budget that can help you reach your financial goals. Track your expenses, pay off debt, and plan for your future.
Salary Calculator – Evaluate your salary against those of similar veterinarians.
Financial Planning Resources – Links to other financial tools, including cost-of-living comparisons, buy/rent calculator, credit card calculator, and more.
Repaying Your Student Loans 101 (PDF) – Information about federal and state loan repayment and scholarship programs available to veterinarians; options for paying off student loans; and tables to help with calculating your loan repayment.
Student Financial Resources – Managing your educational debt requires organization, common sense and responsibility. We’ve pulled together resources to help you better understand options for repaying and deferring student loan debt; avoiding default; and investigating scholarship, repayment and forgiveness programs.
Exploring Veterinary Economics – Articles about a broad range of economics and business topics important to veterinarians, from pricing strategies to market information.
Career Transitions – Explore different career options for veterinarians, assess which might be best for you, and learn how to write a resume that translates your veterinary skills into more universally-understood business language and market yourself to potential employers.
Articles to Inspire
I Paid Off My Student Loans in Five Years
How I Paid Off My Veterinary Student Debt in Four Years
Could You Pay Off Your Veterinary Student Loans in 26 Months?
Additional Reading
Should I Pay Off Debt or Invest?
Managing Your New Paycheck as an Associate Veterinarian
Who’s Buying? Who’s Selling?
Tips to Pick a Financial Planner