Financial Wellness Curriculum
In 2020, the WELL Office revisited the financial wellness sessions by collecting feedback from students and comparing financial literacy trainings offered at other Canadian Medical schools, such as University of Toronto, and University of Ottawa.
Every year of the MDCM program, one financial wellness session is integrated into the curriculum. All financial wellness sessions are given by conflict of interest-free physicians. In addition to those sessions, we have created a list of resources for self-directed learning.
Take advantage of the SSAO's financial counselling program! Meetings with an advisor can answer general questions related to budget and debt management, as well as specific counselling on personal financial requirements. You may book an appointment with an advisor by calling 514-398-6013 or emailing student.aid [at] mcgill.ca.
- Scholarships and Student Aid Office: Find all the resources and advice you need to help pay for university, from step-by-step guides on how to apply for funding to information on how to budget effectively
- The Frugal Scholar MDCM Toolkit can be found under Your Finances on the McGill's Scholarships and Student Aid Office
- Visit the Office of Admissions website for a list of Tuition & Fees
Tips on Financial Planning
- Financial Management: Intro to Personal Finance: Residents & Medical Students by Drs. Jane and Paul Healey, U of T
- Paying for Medical School
- Designing a budget for the school year may appear to be a laborious process, however it is an essential step that can help you reduce your amount of accumulated debt by the time you enter residency. MD Management has prepared a Medical School Cost Calculator to help you budget your expenses and sources of income
- Obtaining disability insurance early on in your training is a wise investment. Consider looking into different insurers and select the best plan for you.
- Preparing for Residency: Disability Insurance Simplified by Dr. Stephanie Zhou MD, MSc, University of Toronto
McGill Financial Literacy Trainings Online
- McGill Skillset Workshops: Financial Skills for the Real World
- McGill Personal Finance Essentials is a free, online personal finance course taught by professors at McGill Desautels Faculty of Management in English and French, four times per year
- The WELL Office Podcast: Episode 10: Put your Money Where your Mind is: An Introduction to Financial Health & Well-Being
- Dear MD to be (episode 4)
- Many doctors feel “betrayed” by sale of MD Financial Management
- Self-Directed Investing Simplified (p. 46 in The Money Issue)
- Money Mindfulness: 7 Things I Wish I’d Known when I Started Out
- Physician Financial Independence Group
- Breaking Bad Debt: finance book reviews, side hustles, budgeting, investing)
The Well Office is pleased provide guidance in all other areas of financial decision making, which includes (but is not limited to):
- Gaining control of spending habits
- Resolving feelings of anxiety about money
- Developing goals to make dreams a reality
- Resolving emotional ties between bank balance and personal values
- Identifying feelings of loss, anger, shame, sadness, and anxiety regarding past financial decisions
Poster Presentation: A Collaborative to Increase Financial Literacy Across Different Medical School Curricula (CCME 2022)
(Please click on the image to play the video)
Zhou, S., Gendreau, P., Healey, J., Premji, L., Rahimi, S., Saad, N., & Pham, T-N. (2022, April 23-26). A Collaborative to Increase Financial Literacy across Different Medical School Curricula [Poster presentation]. The Canadian Conference on Medical Education, Calgary, AB, Canada.