For the majority of new grads or young veterinary professionals, often times finances or even financial stability maybe not by high on the list of priorities. It is more likely that the list is focused around finding a job, travelling or for some the possibility of returning to college. None the less it is important to remember that some kind of financial plan is important to have in place. For some this could be as simple as a direct debit into a savings account or if more adventurous some might opt for a sound investment with a solid return. Either way it is important to know that you have an ‘emergency’ pot to rely on should anything (touch wood) leave you out of work for any length of time.
In the last month there have been numerous articles about financial planning and advice in different veterinary forums which we at VetLo Ireland thought made some good points. Some of the information in these articles are directed at vets that might be retiring, buying or selling shares of a practice but each has some snippets of information that we felt were relevant to all levels of veterinary professionals.
American Veterinary Medical Association –https://www.avma.org/About/SAVMA/StudentFinancialResources/Pages/Managing-Your-Finances-Responsibly.aspx
Vet Money Digest – http://www.vmdtoday.com/finance/accounting-tips-for-the-busy-veterinarian
Veterinary Ireland Journal – http://www.veterinaryirelandjournal.com/images/pdf/business/bus_may_2018.pdf
Let us know what you think about this topic on financial planning.