636 Financial tips and laws for today and tomorrow

Here are the best tips for resident physicians to manage debt during their busy training schedule.

• Use strategies like the avalanche method to pay off high-interest debts like credit card debt first.
• Prepare a strict but manageable budget to handle monthly payments and reduce unnecessary expenses.

• Check if you qualify for student loan repayment plans like PSLF or income-driven repayment programs.
• Refinance your student loans (both personal and federal loans) for a lower interest rate or an expanded payment period.

• Review your credit report often. In case of errors, inform the credit bureaus immediately.
• Slowly but consistently repay your total debt to build a good credit profile.