Financial literacy

Financial literacy is a crucial skill for practicing doctors but while medical professionals excel in their clinical expertise, many lack the necessary financial knowledge to manage their personal and professional finances effectively. Understanding concepts like budgeting, tax planning, investments, and rational borrowing is essential for doctors to navigate their financial responsibilities, such as practice expenses, future planning, education and marriage of children and last but not the least – retirement planning. By enhancing their financial literacy, doctors can make informed decisions, optimize their income, and build a secure financial future. This knowledge equips them to handle the unique financial challenges and opportunities that come with a medical career, ultimately leading to financial stability and peace of mind.