Money Monday

Things you should never (or almost never) buy new

money mondayWhether you’re paying down student debt or saving for a dental practice of your own, it’s never too early to be money savvy. One way to save your pennies is to know when it’s the right time to buy something new and when something used will do just fine. The cost differences between new and used products can be huge and that means more money in your pocket. Read more…

Should you incorporate as an associate?

Taxes 1040 formAfter dental school graduation, many students begin to work in dental offices as associates. When a dentist begins to work as an associate, they may work as an employee of the practice or as an independent contractor. Typically, an associate will not have a choice whether to be an employee or independent contractor when they join the practice. If the practice has always treated associates as employees, they should treat any new associates as employees too; the same goes for independent contractor treatment. Read on to find out the pros and cons of each setup and find out more about what you’ll need to do during tax time…

Retirement savings options explained

Money in hand_x smallOne of the most common areas where we see dentists, young and old (but especially young), make questionable decisions is in the area of retirement planning. A general rule to follow is that every young dentist who is working should save as MUCH as possible as EARLY as possible. This is easier to do if you have money directly deposited each pay period into a retirement account. The options for retirement accounts may seem daunting. Here are a few options that you may have as you enter the workplace…

How to spend (and not spend) student loan money

Money in your handsWhen you are in school, your main focus is, and should be, your class work. However, because you are not employed full time, most students must use student loans as a way to fund both school and living expenses. At the time the loans are incurred, it is easy to minimize the effect that repayment will have on your lifestyle down the road. However, it is crucial for the financially aware student to recognize what they SHOULD and SHOULD NOT spend student loan money on…

The basics of student loan repayment

Student debt piggy bankMost dental students are faced with a mind boggling student debt load. Yet, even if you declare bankruptcy and are granted a discharge of other debts, your student loans will likely NOT be discharged. As much as we would like to ignore that six figure repayment, it is something that will not disappear in most cases. So, what can you do to help ease the pressure along the way? Read on to find out…

Financial resources to simplify your life

piggy bank-angledThis month, Money Monday focuses on simplicity. The purpose of this post is to serve as a single spot to go back to for websites that can serve as great resources for students and recent graduates. If you have some of your own tried and true resources, leave a comment and add to our list…