Nov 15, 2018
In today’s episode, we chat with the one and only Frugal
Physician. She may be anonymous, but her advice on budgeting,
saving money and getting on a journey to financial freedom is
incredibly helpful and insightful. Listen in as she shares her
secrets to paying off debt quickly and gives us so many great money
saving tips as well!
In this episode, you will learn:
- How they got started living a frugal lifestyle after inflating
their lifestyle right out of residency.
- How quitting her job, and having to ask for it back the same
day, inspired her to start paying off debt and living a different
- Why she feels that physicians are so bad at dealing with money,
and they need to get their money on track, in order to help their
patients as well.
- How they were able to pay off $100,000 in student loan
principle in only 6 months!
- Why she feels that making a budget is the key to paying off
debt and starting to save and invest.
- How using techniques such as batch cooking to bring your lunch
can save you over $2500 a year!
- Why she feels that paying off debt with Gazelle Intensity saves
you more money in the long run and keeps you focused on paying it
- Lots of techniques she uses to save money on groceries and
other daily expenditures.
- How counting macaroni helps her family stay motivated to pay
off debt and learn the value of money at a young age.
The Frugal Physician is a mother, a wife, and a Primary Care
Physician trained in Internal Medicine living in Upstate New
York. Her family was the typical physician household that
inflated their lifestyle right out of residency. They found
themselves deep in student debt and unhappy, even though they
supposedly had everything. Reluctantly at first, they found
the utility of frugality, and it turned out to be the best thing
that ever happened to them. Now, they are swiftly making
their way out of debt and towards financial freedom and want to
share their journey with you.
Links we discussed in the show:
Quotes from The Frugal Physician:
- “As long as we had these bills coming in every month, that we
had to pay for, we were shackled to our job.”
- “We have no idea where our dollars are going, and we have no
idea where our patients dollars are going, and that is the problem
- “With money, you just have to get started, and then you’ll find
your own way.”
- “Having a cheat money day is important to keep everyone
Special thank you to this week’s show sponsors:
for all of your physician disability and life insurance
needs and Johanna Fox Turner at Fox & Company Wealth
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Hustle! I know that time is your most valuable resource so
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