In honor of National Predental Week, Mouthing Off will feature all predental-focused content this week. You’ll even have a bonus post on Thursday!
A great deal of our financial advice in the past has been geared toward the dental student or young practitioner. As a predental student, you have many years ahead of you to focus on dental specific financial planning. Now is the time to focus on the basics. The two most important parts of becoming financially aware as a predental student relate to understanding your personal budget, using it and choosing a dental school that fits within that budget.
One of the most well-known ideas in the business world is: “There is no such thing as a free lunch.” What this really means is that when you decide to do something, there is always something that you could have done instead, but chose not to. The “thing you could have done” is a lost opportunity. You gave up something to do or get something else. This idea is known as “opportunity cost.” Read on to find out how opportunity cost can effect your financial future.
The final two questions that we had on the post about the book, “Hot Broke Messes,” by Nancy Trejos, are related. One reader asked, “How do you adjust to a much higher cost of living while in dental school?” Another asked, “How do you set a budget for going to dental school when you have a family?” Read on for the answers and a student spending infographic!
This month, we will once again address some of the reader questions we received when we reviewed the book, “Hot Broke Messes” by Nancy Trejos. Read on to find the answers to these questions: Should you rent or buy while in dental school (single v. married couple)? How do banks weigh your current debt when you look for a loan to start your own practice?
In last month’s post, we reviewed the book, “Hot (broke) Messes,” by Nancy Trejos. We received several questions related to that review. We will try to answer them in the next couple months. This time we’ll answer 1) how much should you save in an emergency fund? and 2) can you borrow money for living expenses too and not just tuition and books?