Tools to Help You Succeed With Your Finances

Welcome to the the Financial Resource Page! We have compiled some of our favorite and most useful resources that will help you advance your financial position.

We only recommend things that we have personally tested and used or strongly believe in.

Note: Your Financial Pharmacist Planning LLC does not receive referral fees from affiliate links. However, YFP Gives, an affiliated non-profit corporation, is paid a referral fee for individuals that use an affiliate link on this website. See the advertising disclosure for more information. 

YFP Gives accepts advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market. 

Resources for Your Finances

Need some extra help getting your finances in order? Everyone’s financial needs and situations are different. It can be overwhelming not only trying to come up with a plan on your own but also with executing it. A financial planner can help take your finances to the next level and achieve your goals.

YFP Planning is a fee-only financial planning firm led by Tim Baker, a Certified Financial Planner. Unlike many other financial planners out there who are only interested in managing your investments, Tim takes a comprehensive approach to focus on what’s most important for you. Besides comprehensive financial planning, YFP Planning offers student loan consults and tax planning services. The YFP Planning team works with clients virtually across the country.

You worked hard to become a pharmacist and earn a great six figure income. Unfortunately, this income does not guarantee you will be financially successful. Pharmacy schools do a great job of preparing you to be a competent and professional clinician but most do not provide education on personal finance.

Written by pharmacists for pharmacists, Seven Figure Pharmacist has all the major personal finance topics to help you succeed. It’s organized into six prescriptions that cover how to make good financial decisions, develop a plan, protect and grow your income, pay off student loans and other debt, get started with investing, and learn the habits of the wealthy.

Many pharmacy graduates today are facing an average of over $170,000 of student loan debt and aren’t always provided with the best tools and resources before graduating. Sound familiar? This may leave you feeling overwhelmed about choosing a repayment strategy and plan that will save you the most money and align with your other financial goals.

The good news? It doesn’t have to be this way. The Pharmacist’s Guide to Conquering Student Loans is the first comprehensive student loan resource for pharmacists looking to tackle their debt. This book is your guide to navigating your student loans with confidence.

It’s no secret that many pharmacists struggle with massive amounts of student loan debt. On top of that, high federal interest rates can make it difficult to get traction and make progress. If you are not pursuing a forgiveness program and don’t need to be in an income-driven plan, refinancing can be a great option to save you a ton of money in interest.

We have partnered with 3 refinance companies to help to help find you the best rate. You can check your rate in about 2 minutes and it doesn’t affect your credit score. Our refinance calculator will show you your savings over the term of the loan in addition to the changes in payments. As a YFP reader, you can get up to a $800 Bonus if you refinance through our site.

You put in a lot of time, energy, and effort to be able to become a pharmacist and make a good income. That’s why it’s so important to protect it. Disability insurance is really income insurance. It provides you with money in the event that you become disabled and are unable to work. Life insurance is another key part of your financial plan if anyone is dependent on your income. Would your spouse, significant other, or children be able to survive if you were to pass?

You can get a free quote for life and disability insurance in about two minutes through PolicyGenius without putting in your personal information. They have a great interface and can save you a ton of time by shopping multiple companies and finding you the best price.

Many people just default to using their existing bank or their parents’ bank as their lender for their first home. There’s nothing wrong with that especially if they’re offering a good rate. But how do you know you’re getting the best deal?

You can go to multiple banks or individual lenders online but this requires you to submit documents multiple times and could take significant time and effort. Plus, the moment you provide your information, it’s often sold to third parties and then you get bombarded with annoying phone calls, text messages, and emails by multiple companies. Fortunately, there is a faster and easier way to compare rates and that’s why we partnered with Credible.

Not only do they have an outstanding user-friendly platform that lets you compare mortgage lenders within minutes, you deal with them directly until the final stages of the process.

Credible Advertising Disclosure

NMLS ID: 1681276

320 Blackwell Street
Suite 200
Durham, NC 27701

Unlike conventional and other loan types, such as FHA or VA, pharmacist home loan options typically require little to no down payment and exclude student loan debt when calculating a debt-to-income ratio.

One of the lenders that offers a program for pharmacists is Iberia Bank. Through their professional mortgage loan product, medical professionals, including pharmacists, are eligible for a 30 year fixed rate mortgage with a minimum down payment of 3%. There is no PMI or additional fees outside of closing costs and they are able to lend in all states with the exception of Alaska and Hawaii.

When you refinance your mortgage, you change the terms of the loan which could be the interest rate, type of interest rate, time to repay, or a combination of those.

The most obvious reason to refinance your mortgage is to get a lower rate. Depending on the term, a lower rate could reduce your monthly payment and result in less interest paid over the course of the loan.

What could you do with an extra couple hundred bucks in your pocket every month?

There are multiple lenders that offer mortgage refinancing. Unfortunately, the process for comparing rates traditionally hasn’t been an easy one. Fortunately, there is a faster and easier way to compare rates and that’s why we partnered with Credible.

Credible Advertising Disclosure

NMLS ID: 1681276

320 Blackwell Street
Suite 200
Durham, NC 27701

If you want to learn more about a specific personal finance topic and want a quick overview, check out one of our free guides or checklists. Here is a list of the guides we currently have:

  • Student Loan Quick Start Guide
  • The Pharmacist’s Guide to Disability Insurance
  • Student Loan Refinancing Guide
  • First Time Home Buying Guide
  • The Pharmacist’s Guide to Life Insurance
  • The Pharmacist’s Guide to $1 Million
  • Nuts and Bolts to Hiring a Financial Planner
  • 10 Financial Mistakes to Avoid

Check out these calculators to help you crush your financial goals!

  • Refinance Calculator
  • Early-Payoff Calculator
  • Million Dollar Calculator
  • 401k Calculator
  • Savings Goal Calculator
  • Mortgage Calculator
  • Compound Interest Calculator
  • Airbnb Earnings Calculator

Join over 9,000 pharmacists and students eager to help answer your questions, and provide support and encouragement. 

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Tim Baker CFP®, team member on the Your Financial Pharmacist team loves to take his family on vacations around the country and the world. But frequent trips can get expensive. That’s one of the reasons why he and his wife became an Airbnb host. In just 1.5 years they have made $10,000!

If you’re not familiar with Airbnb, essentially it is an alternative way to lodge instead of the traditional hotel. As an Airbnb host, you list a property you own or rent on their platform for guests to book and stay. Airbnb only takes 3% of the total reservation so you keep most of the booking fee.

If you want to find out how much you could earn by listing your space, you can check out the Airbnb estimator based on your location.

YNAB, or You Need a Budget, is a powerful budgeting platform that’s based on the envelope method where you assign every dollar a job to spending categories each month. It allows you to sync your bank and other financial accounts and has a cool feature of setting up goals and paying off debt. You get to try for free for 34 days!

Beyond the budgeting features, YNAB also offers great support through free training videos, a forum, and podcast episodes.