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Protecting your finances from harm

Written by Wesleyan Medical Sickness. Posted in Finance

piggy-bank-umbrellaAs a junior doctor, it could be easy to dismiss the prospect of being unable to work because of illness or injury as something that only happens to older colleagues. However, as a doctor, you know anyone could be struck down by illness and be unable to work at any time of their life, which could have serious implications for their finances.

This is why an income protection policy should be an integral part of any financial plan right from the start of your career, as it will enable you to maintain your standard of living should anything happen to you.

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Keeping your finances healthy for 2013 and beyond

Written by Wesleyan Medical Sickness. Posted in Finance

piggy-bank-santaAfter the excesses of Christmas, millions of people resolve to live a more healthy lifestyle in the New Year. As well as your physical wellbeing, this is also a good time to look at the health of your finances.

Reduce debts

The key to any New Year's resolution is starting well and there is little point in having savings if you are in debt – the interest you earn on your savings may be less than you pay on your debts.

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Kick start your savings habit

Written by Wesleyan Medical Sickness. Posted in Finance

saving piggy bankAs a junior doctor, your finances may not be in the best of health with loans, overdrafts and credit cards to pay back. While saving may not be a priority at the moment, as you move through your career and start earning more, it will become increasingly important.

It is also worth noting that research carried out by Wesleyan Medical Sickness showed 41% of doctors wished they had started putting money away earlier in their career, so it is never too early to start.

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The Quack Guide

Written by Wesleyan Medical Sickness. Posted in Finance

yellow-duckShiv Chopra is a member of Wesleyan Medical Sickness' Advisory Board. He is currently in his first year as a Core Surgical Trainee in London, working at the National hospital of Neurology and Neurosurgery.

As if that wasn't enough, Shiv is also the owner and creator of 'The Quack Guide', the UK's first and only independent guide to foundation hospitals for students and junior doctors.

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What’s happening with your pension?

Written by Ian Morgan. Posted in Finance

pension-piggy-bankThe last 12 months have seen a number of proposed changes to the NHS Pension Scheme, as well as reductions in the amount individuals can save into a pension tax efficiently. Ian Morgan, National Sales Manager at Wesleyan Medical Sickness, looks at the proposed changes to the NHS Pension Scheme and how they may impact junior doctors.

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