Wednesday, February 9, 2011

Almost there but have Senioritis

So we are less than a week before I find out my fate. Before I get news of whether I matched to my #1, matched at all, or have to scramble. In the meantime, I having a bad case of senioritis. I mean I just do not want to sit and read anymore. After 3 or so years of hard core reading my brain just wants to shut down.

But I need to pucker up and get it done. I am almost done with my infectious diseases rotation and I am glad that I did this rotation. I am really understanding how to give antibiotics but more importantly, which antibiotics I should give. Next I am on Cardiology. Another very important rotation. Then 3 more rotations and I am done!!!!

Now comes the hard part. Since I am on the cusp of the end of my medical school career I am no longer eligible for scholarships or financial aid. Now I have to start earning a paycheck again, which while it will feel great will require tweeking of the budget. I decided that I am going to need a bridge from here until I start getting paid on a regular basis to ensure that the bank accounts do not go dry. There appears to be a limited number of these residency loans. One thing you need to remember is that the more loans you take out the more that you have to pay back, this on top of the mortgage that you already took out for the house. One thing that I did when I moved was that I did not trade up in my house.

We actually stayed the same, or some people may even say that we traded down. The house we bought was cheaper than one that we sold. Albeit we moved from Northern NJ to Southern NJ and the father from NYC you go, the more normal the prices get. When I sat down with the finance guy I pretty much laid it out in front of him: 30 year fixed or I am walking out. But some people may say that a 5 year ARM is better since you will be in school for 4 of those years, when you are paying very little and you may then move depending on where you do residency or you can then refinance to a fixed rate.  To that I say, you are correct but that is also how this housing debacle started too. People buying houses they could not afford with a 5 year ARM and then when the rate readjusted they could not pay. These are things you should think about and do it carefully. Not just how far you should be from school. Another thing to think about would be the chores of the house. Will you have enough time in your day to cut the grass, rake the leaves? We moved to a townhouse complex and I do not have to do those things. They are part of the association fee. So my weekends are free for the family.

You should also think of ways to reduce how much you spend. Before you leave work, it would be beneficial to you to invest in a coffee maker (if you are one person, get those single cut coffee makers and buy the filter so that you can buy coffee in bulk and use the ground coffee), buy a lunch box to make your own lunch, invest in a wholesale club membership. Be a coupon clipper, shop around for textbooks on line and when you are done with a class, sell them back on line. I just sold a bunch of books that were just sitting on my shelf for almost $200.

Well, I am done reading probably for tonight. See you later dear readers

1 comment:

  1. I've been reading your blog from time to time, and I'm cheering for you to match to your #1!