Thanks for your interest in taking control of your personal finances!

Here you will find links to download the residency budget worksheet, plus an accompanying video and links to additional resources.

Video Walkthrough for Key Personal Finance Topics

Want to skip to a specific section?  Here are the times in the above video:

00:00 – Introduction

8:43 – Income and FICA Taxes and Take Home Pay

19:30 – Housing and Rent vs. Buy Calculator

23:34 – Disability and Life Insurance

34:36 – Student Loan Repayment

1:23:55 – Residency Relocation and Personal Loans


Below you will find links to external sources that may be useful in navigating the personal financial aspects of residency.

Disclosure: Shonan Gold Financial has no affiliation with the any companies or entities linked below, receives no compensation from providing links to their respective websites, and neither endorses nor recommends any particular lender, insurer or other entity listed below.


IRS Tax Withholding Estimator

The most detailed income tax estimator.  Federal income tax only.

TurboTax Taxcaster

Easier to use than the IRS Estimator, may not be as accurate  Federal income tax estimates only.

(Using 2022 tax information as of 5/15/2023)

SmartAsset Federal Income Tax Calculator

Easiest calculator, best for making a quick estimate of take-home pay. Doesn’t include tax deductibility of student loan payments. Income tax (federal and state) and FICA tax.

(Using 2022 tax information as of 5/15/2023)

Student Loans

Federal Student Aid

Get information on all current and past federal student loans, plus useful information on repayment options, including a repayment calculator using your most recent loan data.

Annual Credit Report

If you have any private student loans, they will not be reported on  Instead, get a free copy of your credit report to see infomation on private student loans.

Medical Student Loans - Ben White, MD

A free e-book by Ben White, MD, originally published in 2017 and revised in 2018.  Some information may be out of date.

Student Loan Refinancing

Interest rates and term rates accurate as of May 15, 2023

Laurel Road - For Residents and Fellows

Term lengths of 5-20 years; Interest Rates from 6.45 – 9.41%

SoFi - Medical Resident Refinancing

Interest Rates from 5.49 – 8.24%

Splash Financial - Medical School Loan Refinancing

Interest Rates from 5.90 – 8.76%


NYTimes - Is It Better to Rent or Buy?

Is it better to rent or buy?  It depends!  If you find yourself trying to weigh the pros and cons of buying a home, this calculator will help shed some light for you given your specific criteria.


WCI - Insurance Agents for Physicians

Find a wide variety of independent agents with experience underwriting insurance policies for physicians.

Residency Relocation and  Personal Loans

Interest rates and term rates accurate as of May 15, 2023

Sallie Mae

Maximum: $30,000

Deferment: 3 years

Variable rates: 6.37% – 15.95% APR Fixed rates: 5.25% – 14.46%


Maximum: $18,000

Deferment: up to 5 years

Variable rates: 7.37% – 10.37% Fixed rates: 6.49%-9.49%

PNC Bank

Maximum Loan: $15,000

Deferment: No Deferment available

Variable rates: 5.09 – 11.54% Fixed rates: 4.74-11.19%

Laurel Road

Maximum Loan: $45,000

Deferment: Partial deferment available.

Fixed rates: 9.99 – 22.54%

Still have questions?

Find out how we can work together below!

Glenn Sanger-Hodgson, CSLP®

Candidate for CFP® Certification



(850) 966-3225