Financial Literacy

It's not unusual for a veterinarian in the United States to have (literally) hundreds of thousands of dollars in student loan debt. When added to the reality that profit margins in the veterinary world are often razor-thin, it's easy to see how vets can struggle mightily with financial ins and outs. 

It's also worth noting that financial education does not often play a prominent role in the veterinary curriculum outside of what is offered as a one-off. Students and new graduates are left largely to fend for themselves, armed with vague advice like "Start an investment account" but no concrete direction and little idea of where to begin. 

In fact, Darby Affeldt, DVM, RICP, who donates hundreds of hours in financial consulting every year to veterinarians and vet students, wrote, "I ask students to rate their own financial literacy on a scale of 1 to 10 - 1 is Snoopy and 10 is Warren Buffett. The average is 3." 

That paints a bleak but telling picture of new vets' ability to manage their finances effectively.

The Maggie T Foundation has cultivated relationships and resources that we make available to these students and grads, as well as established veterinarians, that are intended to help them navigate the complexities of things like debt, savings, income, and investing. We work to equip these individuals with knowledge and tools that can help them pay down debt more efficiently, better manage their veterinary practice, and maximize their income.