SoFi Blog

Tips and news—
for your financial moves.

Here’s the Real Reason You Need an Emergency Fund—And How To Make It Happen

The most commonly doled out piece of financial advice may well be, “Start an emergency fund.” You’ve undoubtedly been on the receiving end of this wisdom before, but even though it’s valid advice, it can be hard to implement. This is especially true when no one actually tells you why you should invest in emergency savings, or how exactly you go about building up that financial safety net. At SoFi, we’re committed to helping our members plan for their future—and part of maintaining secure financial footing is working to ensure that you can handle the unexpected expenses life brings.

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5 Key Pieces of Finance Advice for All Med School Grads Starting Residency

Congrats—it’s finally over. You’ve graduated medical school, made it through Match Day, and are ready to start residency, on the road to finally becoming a fully fledged doctor.

But hold on, you’re not there yet. Odds are you finished med school with loans and some debt. The average med student graduated with $190,000 in debt last year, according to the Association of American Medical Colleges. And while the average doctor can make quite a bit of money—pediatricians earn an average of $204,000 and orthopedic specialists make $443,000, for example—the average resident does not.

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