Why is personal finance important?
Many doctors will have questions around personal finance at some point during their careers. These include:
- How is my salary calculated?
- How does my pension work?
- How do I reclaim tax paid on employment expenses?
- How can I save and invest money for the future?
The answers can be simple, but they take a lot of time and effort to find. This website aims to direct you through the basic principles of managing your finances as a UK doctor.
The information found here is not taught in any module in medical school, or on any job placement.
Essential Tools
- Pay Calculator - Calculate your take-home pay
- Understanding Your Payslip - Decode your monthly payslip
- Junior Doctor Salaries - Know what you should earn
Core Guides
- Student Loans Guide - Plan 1 vs Plan 2 explained
- NHS Pension - Your retirement planning
- Income Tax - Understanding your tax obligations
Saving & Investing
- ISAs Guide - Tax-free savings explained
- Financial Planning - Budget and plan effectively
NHS Specific
- Maternity & Paternity Pay - Family planning finances
- Sick Pay - Know your rights
- Tax Relief & Refunds - Get money back
Recent Articles
The Junior Doctor's Guide to Student Loans
Many doctors would have had to use a student loan to study medicine for 5 or 6 years. In this article, we will discuss the terms of your loan...
Maternity and Paternity Pay for Junior Doctors
As an NHS worker, you will be entitled to a certain degree of maternity or paternity leave. For ease of structure, we'll first talk about maternity leave and pay...
Sick Pay for NHS Junior Doctors
It's important to plan for sudden unexpected circumstances, and sometimes this involves planning for the worst. This article will discuss what happens if you become unable to work...
Understanding the Junior Doctor's Payslip
It's really important to understand your payslip, so you can make sure you're being paid and taxed correctly...
Budgeting and Financial Planning
Investing can be the key to long-term financial health by making your money work for you. It can be tricky sometimes to put together enough to get your investment portfolio started...
Disclaimer
This website provides guidance to help you make independent informed decisions. It is not official financial advice.
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