Personal Budgeting Guidelines for Doctors

Posted on February 17, 2012 by Dr. David Edward Marcinko MBA MEd CMP™

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Some Cost of Living and Expense Benchmarks for Us All

By Dr. David Edward Marcinko MBA

[Editor-in-Chief]

There are many types of budgets. Fixed and variable budgets; semi-variable, cost plus/minus, managerial and even zero-based budgets! And, we’ve written about some of them on this ME-P.

Nevertheless, I’ve never been a big fan of personal budgeting. For clients, they seem to be a neurotic crutch, and for me a pointless exercise as I make sure I live on less than I make. Yet, this philosophy is most unusual in the financial advisory world.

But, like minds to the contrary do exist. Just ask my colleague, and financial planner, Rick Kahler CFP® MS ChFC CCIM.

Link: https://healthcarefinancials.wordpress.com/2011/12/27/can-doctors-achieve-financial-independence-without-budgeting/

Still, this visual will give you a rough idea of the average cost-of-living as a percentage of income for laymen.  We all love benchmarks; don’t we?

Assessment

But, does the above infographic relate to medical and financial services professionals; why or why not, and if so, how?

Conclusion

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