Salvage Retirement, Don’t Become a Doctor!

It all begins when someone asks your major and you say “Pre-med,” it might then seem like a conundrum when you have phrases thrown at you, like “Oh, wow, what a noble title!” “You’ll be an amazing Doctor! “We need more Doctors,” “You want to be a Doctor? That’s terrific,” and “Oh, well being a Doctor isn’t worth it, you’ll be swimming in debt,” “All that hard work, so you can be in debt? Pass.”

So, “now what?” You ask yourself. “What if they’re right and it’s not worth it?”

Have you ever heard of the phrase: “Broke people stay broke if they live like they’re rich.”

As a college student, there’s no doubt you may end up with student debt. Almost all college students will receive some form of student loan during their college career. But that doesn’t mean you need to live broke your entire college career or graduate school. After graduation, the debt can sometimes seem overwhelming; but fortunately, there are ways to relieve some of the debt and the stress that goes along with it. By following a few simple but efficient tips, you can avoid student loan debt, or at least make it more bearable.

“Doctor or not, living the life you want is reachable and in your hands if you do a few things” – Stacy A Gonzalez

  • Save your money early on. By saving money before and during college, you can help to repay those loans more quickly once they become due. Get a part time job, have a yard sale, or begin a savings account so that you will have extra money to pay off the loans and payments that will quickly accumulate when you finish undergraduate.


  • Pack your lunch. This is said with love to all those busy bodies, but eating healthy, while being financially conscious is possible. Eating out is more expensive than making or packing your own lunch from home, as well as healthier. Meal prep your three course meals for the week ahead over the weekend, pop them in the fridge or freezer and into your lunch bag and voila! Money, health & time conscious.


  • Take your time, and don’t be in a hurry, unless… While everyone wants to graduate and get a new career as soon as possible, it’s important to keep in mind that the longer you’re enrolled, the longer you can put off repaying those loans. Try out part time school, and work part time or full-time school and a part time job. While this method won’t work for everyone, it can help ease the stress of being a full-time student while allowing you to earn money and get a jump-start on paying back your impending loans. BUT if you are worried about time, then by all means do what you need to do; take out a small loan or be an adult, get your education full-time and work part-time, it’s doable!


  • Get as many scholarships as you can. The difference between loans and scholarships is that you won’t have to pay those scholarships back. There are hundreds of different types available, so consider these as soon as possible. The more you are awarded, the less money you’ll have to dish out to student loans. Even if you earn a couple of smaller scholarships, every little bit helps to trim the student loan.


  • Skip the Starbucks! You’ll shed some inches from those sugary drinks and save at the same time, what’s not to love? You’ll feel great and more in control of your life and yourself.


  • Get granted a grant. Like scholarships, grants do not have to be paid off and can go towards your college education. The government offers several different grants, but be sure to pay close attention to the guidelines before applying. Grants are usually given to people who have certain financial difficulties.


  • Don’t get your nails done. You’d be surprised, but skipping out on your bi-weekly manicure and pedicure, it can amount to great things and great savings. This is not to say that you can’t treat yourself every now and then, but is the weekly to bi-weekly trip truly necessary? Opt to DIY at home, you’ll save money and feel amazing that you are doing it yourself for yourself. Self-care and self-love to the max!


  • Save study abroad for later. The first years of college are an exciting time, new found freedom and independence, and best of all traveling. Taking loans out to travel abroad multiple time each year, puts a financial weight on your loan pay back. It’s best to limit the traveling to road trips or nearby traveling within the states as opposed to multiple overseas, which you can do once you graduate.


  • Bargains & more Bargains. Deals. Brand & Quality. This is what you should look out for when purchasing clothes. You don’t want to buy something that is $5 that will wear down in 1 month, as opposed to a piece of durable clothing that costs $20 that will last you for years. Don’t forget to be stylish in the mix!

In the end, it all depends what you want in life, how you want to live and how you want your future generation (children or not) to live. Doctors get debt and there are Doctors who quickly get out of that rabbit hole. Is debt restricted to Doctors? No, debt is a universal topic for every profession. So if you want to be in the medical field, don’t get discouraged and fear debt or loans, for most it’s apart of our lives like life and death is.

I hope you’ve enjoyed these tips! I guarantee if you try them out for a month, you will see the changes. Share, like, and comment below if you liked my post, or if you have any money saving ideas of your own that you’d like to share with us!

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