Post Residency Expenses

[civilspouse]

I've read things here and there about the expenses that hit after residency. I know that it can be speciality dependent and also vary depending on The Job, but what major expenses should we be expecting, attempting to budget for at the end of residency. I was so thankful that I learned from this site about all of the expenses of applying to residency/the end of med school so now I'm trying to plan for the next stage. Licensing? Moving (do some jobs pay/reimburse)? What was your experience?

[spotty_dog]

We closed on our house in February but didn't move until the end of June, so we had four months of doubled up housing costs as well as the closing costs associated with the house.
We had over a month with no pay at all.
Moving was covered with a bonus paid up-front but although we did a DIY move to save money we sunk the rest of the bonus into housing expenses.
Licensing for the new state.
Interview travel -- we were reimbursed at most locations, which meant we needed a buffer to be able to front the cash, but for this job if we'd not taken one a job with the group, we would not have gotten the costs reimbursed at all. Oh, and the trip where DS and I tagged along, I think we had to pay some of my costs. And the trip to visit the final location after we signed was all on us, of course.
Board exams.
Furnishing the new, bigger house. (We had nothing left to take care of small repairs or to paint before moving in, but some folks might prioritize that.)

Within six months we had also incurred expenses for traveling to oral exams, and building a better emergency fund, as well as the growing pains of feeling our way into a new lifestyle and paying for health insurance/homeowners/retirement savings/utilities on the new, bigger house, etc.

That's just off the top of my head.

(Lest this sound like all doom and gloom we are 5 years out and doing great. Living far enough within your means to be able to plan ahead for these kinds of expenses, means building the habits that will let you rebound and then some if you do happen to drain all your resources at the end of training.)

[ladymoreta]

Our big expenses the first few months were selling our house (repairs, staging, and bringing $$$ to closing), double expenses for about 2 months for our house and the one we rented, licensing for the new state, deposits for the house we were renting and utilities, moving (rented Uhaul and packed ourselves, but paid for loading and unloading), and written board exams. It ended up being about $20k.

[Thirteen]

I also say 15-20k, depending on housing/COL/lapse in employment/moving expenses.


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[v-girl]

We didn't move. The boards can bite though – but our university reimbursed. DH has two to keep up with - peds and genetics.


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[alison]

Aside from what's already mentioned: new licensing for cars, stocking a whole new fridge and pantry, and eating out A LOT while moving out/in.

[SoonerTexan]

Boxes and boxes of
Bonbons

[v-girl]

Wine. Lots of wine.


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