u/FormerComposer

Hey yall! I am a 23F about to start a fully funded MD-PhD program and would like to learn how to best manage my finances.

For context, the program is 8 years total and covers 100% of tuition, pays me $35,019.86 per year, and fully covers medical insurance/fees. There's also an additional allocated portion that will cover books/travel/technology. After the 8 years, I will then be in residency, and then fellowship.

My rent (with utilities included) will be $700/mo. I fully own my car. I also have a couple side jobs to supplement my income.

I have about 10k in a HYSA, which I mentally have as my emergency funds. I have about 3k in my bank account where my credit card bills are paid through. I have been maxing out my Roth IRA and have about 6k in traditional investing accounts.

In terms of credit cards, I have the Discover, Amex Blue Cash Preferred, and the Wells Fargo Active Cash Card. I am intending on cancelling the Amex since I will soon be charged the annual fee, and instead will get the Citi Costco Card.

I also hope to buy a home in a year or so. When I move for residency, I will rent it out for passive income.

Basically, how can I ensure that my wealth grows while I am in school? What else can I be doing? Where should I be putting my money? What credit cards are best? Literally any and all advice is appreciated!

Hey yall! I am a 23F about to start a fully funded MD-PhD program and would like to learn how to best manage my finances.

For context, the program is 8 years total and covers 100% of tuition, pays me $35,019.86 per year, and fully covers medical insurance/fees. There's also an additional allocated portion that will cover books/travel/technology. After the 8 years, I will then be in residency, and then fellowship.

My rent (with utilities included) will be $700/mo. I fully own my car. I also have a couple side jobs to supplement my income.

I have about 10k in a HYSA, which I mentally have as my emergency funds. I have about 3k in my bank account where my credit card bills are paid through. I have been maxing out my Roth IRA and have about 6k in traditional investing accounts.

In terms of credit cards, I have the Discover, Amex Blue Cash Preferred, and the Wells Fargo Active Cash Card. I am intending on cancelling the Amex since I will soon be charged the annual fee, and instead will get the Citi Costco Card.

I also hope to buy a home in a year or so. When I move for residency, I will rent it out for passive income.

Basically, how can I ensure that my wealth grows while I am in school? What else can I be doing? Where should I be putting my money? What credit cards are best? Literally any and all advice is appreciated!