E 182 Doctors Out of Debt Caroline Clerisme DDS

Make a budget and execute a plan to pay back all your doctor student loans in a short amount of time. Dr. Caroline Clerisme did just that and we find some practical tips in this episode. Dr. Caroline Clerisme, DDS talks to Dr. Justin Trosclair, DC on A Doctor's Perspective Podcast To start with, she paid back 250,000 of student loan debt in 4 years. Now that's a success with doctors out of debt. How is it that someone can get 120-150000 salary but still not make any real dint into their student loan debt? Dr. Clerisme tackles the reality of living the doctor lifestyle and the balance between the I Deserve It Mindset compared to the slightly more Conservative Approach for a few more years. Should you buy a house before a practice? Percentages for House, Car, Food based on your annual income matters. For instance, 25-30% of your income should be the max for a house payment otherwise you get house poor and can’t do any other saving and spending. Must have Intention and a Plan for your Finances. A Budget isn’t supposed to be Restrictive, A budget is used so you can see it, analyze it and have a road map. Many people don’t actually know what do they make, what do they spend. Student loans and debt repayment early is not by accident and she gives us good tips today. How many Stream of Income should you have? (real estate, stocks, retirement accounts, crypto, investment real estate groups, go in with someone else on a business, write books etc). At the very least be a good dentist and if need be, learn procedures that can be billed out at a higher rate. Make sure you check your credit report because you don’t want something unknown to mess you up and cause you to have a higher interest rate on purchases. https://www.doctorsoutofdebt.com/ this is her program. Author of a kids book Lily and the Talking Piggybank: Let's learn about Money Lily and the Talking Piggybank entreMD book and podcast EntreMD Method When asking if she helps with figuring out the type of loan repayment to pick (straight 30 years, income based repayment etc) she said that is not really her specialty. She focuses on the other side of the coin. So if you want a direct lesson on payment structures then listen to this episode https://adoctorsperspective.net/128 and if you want the full financial series from the past go to this link https://adoctorsperspective.net/financial. This episode focuses heavily on generational wealth, budgeting, getting out of debt, and other revenue streams all at the same time. Show notes can be found at https://adoctorsperspective.net/182 here you can also find links to things mentioned and the full transcript. Dr. Caroline Clerisme, DDS talks to Dr. Justin Trosclair, DC on A Doctor's Perspective Podcast Full Transcript of the Interview (it will have grammatical errors and mistakes). Just Click to expand. Thanks audioburst!