New and recent veterinary graduates who are looking to gain a deeper understanding of finance management and maximizing your dollars should check out a series of new financial education videos called “Managing Your Finances,” available on VetVance.com. Developed by the AVMA economics team, these videos are part of the AVMA’s efforts to advance financial literacy and overall wellbeing within the veterinary community and, specifically, among early career veterinarians.
We know student debt is a top concern among young veterinarians and even those further along in their careers. Tools like these can help you manage and even reduce your debt.
The VetVance “Managing your Finances” series is comprised of five learning modules:
- Debt-to-Income Ratio – Learn how to calculate your debt-to-income ratio to gain a clear picture of how much money you have to spend and how much you have to save.
- Managing My Debt – Now that you know your debt-to-income ratio, learn how to manage your debt and optimize your budget. Finding the right loan repayment option requires a comprehensive examination of your projected expenses as well as personal goals.
- Investment Value of My DVM Degree – Calculating the return on investment of your DVM degree can help you feel confident in the time and money you’ve put into your veterinary education.
- Planning for My Starting Salary – When evaluating new job prospects, you’ll want to consider several crucial questions, such as: “What sort of salary can I expect?” and “Does my location affect my salary?” The answers to these questions will empower you to secure a starting salary that suits your needs.
- Improving My Starting Salary – These simple tactics will help you ensure that, as you grow, your salary does, too.
The video series features AVMA Associate Director of Analytics Dr. Bridgette Bain and AVMA Statistical Analyst Charlotte Hansen. VetVance, a project of Zoetis, is a free, web-based learning resource for the entire veterinary community. To access resources you’ll need to register and create a personal account.
The VetVance modules are among many financial resources already developed by the AVMA. These tools are meant to empower veterinary professionals – and in particular, recent graduates – to take ownership of your finances and help you make well-informed financial decisions that put you on the path to success.
Other resources include: