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In this episode of the Medics Money podcast, Cyra, Shivam, and Arjun discuss the UK Graduate Prioritisation Bill, which aims to prioritise UK medical graduates in the training process amidst a growing number of international applicants. They explore the challenges faced in medical training, the role of the BMA in advocating for necessary changes, and the ongoing pay disputes affecting doctors. The conversation highlights the need for a sustainable workforce plan that balances the interests of UK graduates and international medical graduates while addressing systemic issues within the healthcare system.

Chapters

00:00 Introduction to the UK Graduate Prioritisation Bill 02:45 Challenges and Solutions in Medical Training 05:34 The Importance of Sustainable Competition Ratios 08:19 The Role of the BMA in Advocating for Graduates 11:06 Addressing the Needs of International Medical Graduates 13:49 Future of Medical Training and Workforce Planning 16:26 The Pay Dispute and Its Implications for Doctors 17:44 Conclusion and Future Outlook

 

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The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

 

In this episode of the Medics Money podcast, Matthew and Ed address various financial questions from doctors, focusing on topics such as cash ISAs, trading allowances, adjusted net income, self-assessment tax returns, and claiming professional expenses. They provide insights into the implications of recent changes in tax laws and offer practical advice for navigating the complexities of financial management in the medical profession.

 

00:00 Introduction to Financial Queries for Doctors

01:12 Understanding Cash ISAs and Future Changes

05:40 Exploring the Trading Allowance and Miscellaneous Income

09:02 Adjusted Net Income and Its Implications

11:43 Self-Assessment Tax Returns: Who Needs Them?

16:35 Claiming Professional Expenses and Tax Rebates

21:35 Navigating HMRC Tax Relief and Subscriptions

 

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

 

This week's Medics' Money Podcast features Dr. Zain Manji, who shares his experience and insights on financial education for medical professionals. Dr. Manji discusses the lack of formal financial training in medical schools and emphasises the importance of early financial planning and investment. He highlights key takeaways from the Medics' Money Financial Wellbeing course, such as budgeting, the medics money financial wellbeing algorithm, and evidence-based investing. He also offers advice to medical students and young doctors on the significance of starting financial planning and investing early.

 

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Contact BW Healthcare Surveyors today --> https://medicsmoney.co.uk/rent/

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This conversation delves into the complexities of funding in healthcare practices, highlighting the significant impact of underfunding on reimbursement rates and the financial health of these practices. It explores the challenges faced by healthcare providers in securing adequate funding and offers strategies for navigating these issues effectively.

 

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

The next cohort of the Financial Wellbeing Course starts soon. Apply here: https://medicsmoney.co.uk/medics-money-financial-wellbeing-course/

In this episode, Tommy is joined by Dr. Jonathan Hanson, an experienced sports medicine doctor who has worked with elite sports teams, including Formula One, rugby, and football teams. Dr. Hanson shares his unique career path from medical school to becoming a go-to specialist in sports medicine, emphasising the role of mentorship and specialised training. He also discusses the importance of financial education for medical professionals, describing how early advice on investments, insurance, and the NHS pension helped him manage his finances effectively. Notably, he recounts his involvement in developing concussion guidelines in Scotland and shares some memorable experiences, including wearing Sam Allardyce's trainers during his time with the England football team. The episode wraps up with valuable advice for new doctors on managing their careers and finances.

 

Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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Want to improve your finances fast? Then come on our course

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

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In this episode, Tommy Perkins and Dr. Tony Goldstone discuss the complexities of NHS pensions, particularly focusing on the punitive annual allowance tax bills that many healthcare professionals face. Dr. Goldstone introduces a new web-based tool designed to help individuals calculate and predict their pension growth and tax liabilities. The conversation delves into the structure of NHS pensions, the challenges of understanding annual allowances, and the importance of accurate data in financial planning. The episode also highlights various tax traps that can affect take-home pay and emphasises the need for proactive management of pension-related issues.

 

00:00 Understanding NHS Pension Challenges 07:38 Introducing the New Pension Tool 15:16 Navigating Complex Pension Scenarios 23:44 Navigating Tax Charges and Scheme Pays 30:59 Understanding the 100K Tax Trap 37:44 Addressing Employer Errors and Back Pay 43:45 Revisiting Scheme Pays and Individual Circumstances

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/   In this episode of the Medics' Money Podcast, hosts Dr. Tommy Perkins is joined by series veteran Ian Crompton to discuss crucial financial advice for medical professionals. They delve into common financial mistakes that doctors and dentists should avoid, including nuances related to valuations, types of finance, ownership issues, and succession planning. With Ian's extensive experience as an independent broker and consultant working with GPs, the conversation highlights the importance of getting expert advice to navigate the complexities of financial decisions in the healthcare sector. Tune in to learn how to make informed financial choices to ensure long-term success and stability.   00:00 Introduction to Medics Money Podcast   01:20 Welcoming Back Ian Crompton   02:04 Top Tips and Common Mistakes   05:03 Valuations and Financial Considerations   11:23 Understanding Different Types of Finance   16:04 Ownership Issues and Succession Planning   22:41 Hand Me Down Loans and Inheritance Loans   31:15 Summary and Final Thoughts

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PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

In this episode of the Medics' Money podcast, the team discusses their 2025 financial resolutions and sets new ones for 2026. With contributions from Dr. Tommy Perkins, Andy Pow, Dr. Ed Cantelo, Matthew, and Dr Cyra Mackintosh, they reflect on their successes and challenges over the past year. Andy shares the success of starting a new business, while Cyra discusses the challenges of maintaining savings and planning for a new baby. Dr. Tommy Perkins talks about his physical recovery, despite not meeting his resolution fully. The episode also delves into the importance of ethical investing and accurately managing pension records, offering valuable insights and advice for doctors and other professionals looking to improve their financial well-being in the coming year. The podcast ends with a reminder of upcoming live events in January to help structure and improve finances for 2026. 00:00 Introduction and Upcoming Events

00:51 Team Introductions and 2025 Resolutions Recap

02:25 Tommy's 2025 Resolution and Future Plans

07:57 Andy's 2025 Resolution and New Business

10:51 Cyra's 2025 Resolution and Personal Updates

13:48 Matthew's 2025 Resolution and Financial Plans

15:51 Ed's 2025 Resolution and Pension Focus

22:47 Final Thoughts and Upcoming Live Sessions

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/

 

In the penultimate episode of the Medics' Money Podcast for 2025, hosts Dr. Tommy Perkins and Dr. Ed Cantelo, along with team members Cyra, Andy, and Matthew, celebrate a successful year and engage in their annual end-of-year quiz. The quiz features a mix of questions about the team, financial achievements, and UK tax trivia, exploring topics like fiscal drag, VAT rates, and historical taxes. The team recalls their best moments of 2025, including record numbers of doctors assisted and popular YouTube videos. They also discuss significant changes in ISA limits set for April 2027. The episode wraps up with a thank you to their listeners for their continued support, along with wishes for a happy holiday season.

00:00 Welcome to the Medics' Money End of Year Quiz!

00:31 Meet the Team

02:28 Quiz Round 1: Medics Money Achievements

10:15 Quiz Round 2: Pet-Themed Fun

14:41 Quiz Round 3: Fiscal Drag and Finances

20:01 Reflecting on Fiscal Drag and Inflation

20:40 Investing in 2025: Navigating AI Bubbles and Market Volatility

23:36 Understanding Stock Market Volatility

26:33 ISA Limits and Government Policies

31:55 Tax Trivia: Unusual Historical Taxes

35:20 VAT Rates and Peculiarities

38:09 HMRC Excuses and Tax Return Deadlines

40:39 Wrapping Up: Medics' Money's Year in Review

In this episode of the Medics Money podcast, Tommy interviews Angus Perry, a GP with a passion for integrating technology and lifestyle medicine into healthcare. Angus discusses his journey from being a GP to founding GeneralPractice.ai, a platform designed to create personalised management plans for chronic conditions and promote lifestyle changes. The conversation explores the challenges of implementing lifestyle medicine in a time-constrained environment, the importance of patient engagement, and the role of technology in modern healthcare. Angus shares insights on building a minimal viable product, the significance of passion in entrepreneurial endeavours, and offers advice for young clinicians looking to future-proof their careers in an evolving medical landscape.

Chapters

00:00 Introduction to Angus Perry and His Journey 02:32 The Importance of Lifestyle Medicine in General Practice 05:23 Challenges in Implementing Lifestyle Changes 08:05 Building a Solution: GeneralPractice.ai 10:45 The Mechanics of Creating a Health Tech Startup 13:38 How GeneralPractice.ai Works for Patients and Clinicians 16:26 The Role of Gamification in Health Management 18:59 Advice for Young Doctors and Future Trends in Medicine

Editors note: this episode originally aired on 'What Medical School Doesn't Teach Us' in 2024.

In this episode of Medics' Money's podcast, Cyra interviews Matthew to discuss the intricacies of UK student loan plans, particularly focusing on the differences between Plan 2 and the newly introduced Plan 5. They elaborate on loan repayment mechanisms, interest rates, and repayment terms for each plan. Matthew explains the concept of a graduate tax and addresses misconceptions about paying off student loans. The episode also touches on the financial burdens faced by students, the impact of loan repayments on future financial prospects, and the importance of evaluating the necessity of taking on such debt. Listeners are encouraged to consider their personal circumstances before committing to student loans. For questions, listeners can reach out via provided email contacts.

00:00 Introduction and Welcome

00:48 Understanding Student Loan Plans

01:16 Plan 2: The Graduate Tax

03:27 Plan 5: New Changes and Implications

05:14 Comparing Plan 2 and Plan 5

06:13 The Real Cost of Student Loans

07:16 Good Debt vs. Bad Debt

08:11 The Financial Burden on Students

12:25 Conclusion and Contact Information