During the early stages of Junior Doctors careers, their main focus is to move from their current financial situation which in most scenarios is one of being in debt, into a more financially secure and stable situation.
Through a robust, open and working relationship with Junior Doctors I have enabled them to achieve this through the process of understanding their future financial requirements and help to achieve this by creating and sustaining good habits and planning for the future.
Below are some of the areas in which I have helped Junior Doctors just like you:-
Through ongoing engagements I have been able help medics and their families carefully account for their current and future spending habits to ensure that they are not only financially secure but allowing them to assess the levels of their monthly disposable income.
By doing this exercise it allows you to achieve your current and future financial goals as well as ensuring your continued financial security.
Sounds much easier that it actually is. Debts need to be looked at on an individual basis to understand the real value and real cost of these debts. Through careful reviews and understanding of these debts, it will allow you to reduce your financial debt whilst ensuring your financial goals are met.
Income and Career Protection Insurances
Through constant dialogue with medical professions and junior doctors they have informed me that this a certainty within the industry but just like in the Private sector it is not something that is regularly reviewed.
Through ongoing engagements with my clients I am able to ensure that what they have in place, is not only fit for purpose but affordable and relevant to your current and future circumstances so that you benefit from it as and when necessary.
Junior doctors generally have two aims in mind with regards to regular savings. One is for a mortgage deposit and the other is an emergency fund to ensure that unexpected bills are paid for and no unnecessary debt is built up on Credit Card or Loans etc.
Through working with Junior Doctors and by helping them to achieve good habits on saving, this has allowed them to achieve the ability of buying their first home in order to stop renting and paying off someone else’s mortgage.
You will need 10% of the property value which is likely to be at least £10,000 if not much more.