Include financial planning in your wellbeing plan

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  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