As I have alluded to in previous posts, I have recently become interested in personal finance and investing. Cash flow is now net positive (as opposed to in medical school) and for the first time, I have the opportunity to spend earned money, rather than federal loan money.
Like the writer of Debt Sucks,if I publicize my financial situation and become accountable to the ether, I might have a greater impetus to eliminate my debt, so here goes…
My post-medical school debt is $86,800, fairly low, considering the national average is ~$158,000. I was fortunate in that my four-year BA from an Ivy League university was only about $12,000, thanks to very generous scholarships (need-based).However, life during medical school in Manhattan cost a bit more than was provided in those loans, so I entered residency is with ~$8500 worth of credit card consumer debt. A few months into residency, I got into a very minor car accident (at literally 10 mph) that ended up totaling my inexpensive compact, I ended up financing a new car, something that every personal finance book tells me not to do, but given that I needed a car ASAP, I had little choice.
- Bogleheads Personal Finance Forum (bogleheads.org)