Journal Club 7-3-20

Here's Journal Club 7-3-20! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

• The White Coat Investor discussed why doing the math on debt load is so important, and how debt-numb many physicians can become by the end of their training. Take a look at his blog post about maximum student loan debt to salary ratio. More importantly, make sure you're doing the math on your student loan debt!

• Finances aren't always as simple as earning, spending, and saving money. Financial psychology is a real thing. In fact, our money-spending behaviors can either make or break the bank! Financial Residency shares a comprehensive and definitive guide on how behavior and finances are influenced. So, check it out!

• Obviously, you all know I'm all about the concept of passive income. Especially in times where many physicians can no longer soley rely on their physician's income to sustain their livelihood, it's important to consider how you can create multiple income streams. Millennial Money Man created a list of 62 passive income ideas for 2020. Guess what's at the top of the list? Crowdfunding, of course!

• Saving and investing in unprecedented times can feel nervewracking. The Stacking Benjamins Podcast's recent episode, Re-Stacking Your Benjamins: Saving, Investing and Managing Debt in Uncertain Times, is a great resource if this is something that's been on your mind, especially with the current state of our world.

In the end, I hope Journal Club 7-3-20 was helpful to you.

Lastly, here's a little bit of motivation below. Enjoy and have a great weekend!