Should financial advice be taught in medical school?
False
General
Should financial advice be taught in medical school?
Discuss non-medical topics
Working as a doctor is an expensive business. GMC fees, medical indemnity fees, courses, exams… Should medical students be taught how to stretch our income? I’m an FY2 for example
0
Cat:OffDutyForum:General
Cat:OffDutyForum:GeneralDiscussion:9c76e6bb-b4f5-4a37-8527-fb451933f971
|
Should financial advice be taught in medical school?
posted at 11/7/2012 4:08 PM BST
on bmj.com
|
Posts: 25
First: 11/7/2012 Last: 28/9/2012 |
Working as a doctor is an expensive business. GMC fees, medical indemnity fees, courses, exams… Should medical students be taught how to stretch our income? I’m an FY2 for example, and only just found out you can claim tax refunds on certain professional expenses. |
|
Re: Should financial advice be taught in medical school?
posted at 11/7/2012 6:37 PM BST
on bmj.com
|
Posts: 1283
First: 9/12/2011 Last: 21/5/2013 |
No absolutely not. Medical school is for medicine, and ancillary training in ethics, etc. As an elective perhaps, or on your own time, but it should not take away from basic sciences, and medicine. Assuming a person is smart enough to be in medical school, and be doing well, one could postulate that they would be smart enough to get a good book on investing, and or a few kiplingers financial digests, and other magazines to learn the basics of investing and financial management. DuaneF |
|
|
Re: Should financial advice be taught in medical school?
posted at 12/7/2012 11:12 AM BST
on bmj.com
|
Posts: 16
First: 14/8/2009 Last: 19/9/2012 |
I have to agree with DuaneF, medical school is not "life school". We're busy enough trying to cram in all of clinical medicine, communication skills, practical procedures etc., there simply isn't time for teaching students anything else. |
|
|
Re: Should financial advice be taught in medical school?
posted at 12/7/2012 12:39 PM BST
on bmj.com
|
|
Posts: 25
First: 11/7/2012 Last: 28/9/2012 |
I tend to agree with you both DuaneF and ross71521. Interestingly, I was speaking to a Canadian civil engineer yesterday who said that before her class was allowed to graduate from university they had to take a one-day course on dress and etiquette. She seemed to remember everything they suggested, though with a work uniform of a hard-hat and reflective overalls doesn't really get to try them out. |
|
|
Re: Should financial advice be taught in medical school?
posted at 31/8/2012 7:45 AM BST
on bmj.com
|
|
Posts: 2
First: 24/8/2012 Last: 31/8/2012 |
Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. |
|
|
Medical school *is* life school
posted at 31/8/2012 9:06 AM BST
on bmj.com
|
Posts: 1178
First: 19/4/2010 Last: 21/5/2013 |
I completely disagree with everyone else above! I think medical school should prepare students for life as a doctor. This obviously involves all the basic sciences, and the clinical medicine, but should include all the other important things, such as time management, professional behaviour, how to write a CV, how to apply for a job, how to behave in an interview, and financial planning. I have some sessions with FY1s at the beginning of their first year to speak with them about time management, goal setting, and financial planning - they're in so much debt already, giving this kind of advice is invaluable to them. There's another thread on D2D at the moment about doctor 'burnout'. There's certainly a high level of doctor depression, and anxiety, and much of it is worsened by financial difficulties - I think we have a duty to those who come after us to pre-empt these difficulties, and help when and where we can. So, yes, I absolutely think we should have sessions in our medical schools to provide the kinds of information that are useful in real life, when a doctor, and this includes financial advice.
|
|
|
Re: Should financial advice be taught in medical school?
posted at 31/8/2012 1:21 PM BST
on bmj.com
|
Posts: 339
First: 17/12/2011 Last: 15/5/2013 |
Yes, I think that financial advice should be taught in Medical School. When I was at Medical school no Bank would lend money to student , now almost all UK Medical students have large student loans, and are probably more aware of money worries than my generation were, so yes brief financial advice. |
|
|
Re: Should financial advice be taught in medical school?
posted at 31/8/2012 1:42 PM BST
on bmj.com
|
Posts: 324
First: 23/12/2011 Last: 3/5/2013 |
well i think a good point to make is if gps and the like aer going to be controlling the finances of practices more under the health and social care bill i think it would be EXTREMELY useful if you could get some form of financial advice on how to deal with common problems. I mean as others have said maybe medical school isnt really the place where you get taught about how to return your personal tax form but when it comes to big financial things related to the running of gp practices and the like then it could be useful- especially with the changes afoot... And that is coming from a medical student... |
