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Personal Finance For Physical Therapists

Personal Finance for Physical Therapists – The Ultimate Guide

So I have a paycheck…now what? It’s time to get your personal finances as a physical therapist in order.

Personal finance for physical therapistsIf you’re reading New Grad Physical Therapy, you probably have been a student for a long time, paying for the privilege of learning and working with supervision. Perhaps you are still a student, or maybe you’ve been working for a few years.

Ultimately, the goal of all those years of education is to begin working as a physical therapist, right? So after the recruiting calls, online applications, interviews, the NPTE, the job offers, negotiations, and acceptances…the job starts! And along comes that first real paycheck.

So what should you do with that first paycheck? And all the ones to come? I’d like to address some important issues for new physical therapists in this resource, including goal setting, budgeting, saving, investing, student loan repayment, and understanding the benefits provided at work. Most of us didn’t choose this specific healthcare profession because we wanted to get rich—we could have been surgeons, CRNAs, or pharmacists! I chose to be a PT because I truly love what I get to do every day. I believe that I make a difference, and I love that I get to be in a career where I generally feel fulfilled, not drained!

Even though we may have chosen this profession for altruistic reasons, it is absolutely essential to understand personal finance. Choices on how to spend, Personal finance for physical therapistssave, invest, and insure yourself can mean the difference between being able to pursue your passion and staying stuck in an unhealthy situation, trapped without resources to make an important life move!

What are your goals? When you dream, what do you see? Is it an early retirement? Opening your own practice? Purchasing a home? Creating a new tool or contributing to cutting edge rehab technology? Traveling? Having the flexibility to cut back on working hours to stay home with children or take care of an aging relative? When it comes down to it, your goals and values should determine how you earn, spend, and save your money. And the way you handle your financial life determines what your life might look like in the future—whether you will have the freedom to pursue what you really want to do with your life!

This resource covers all of the following in detail:

  • Budgeting
  • Saving
  • Killing the Debt – Student Loans
  • Investing for Retirement
  • Insurance

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About Katie Chae

Katie Chae, PT DPT is a recent graduate and a physical therapist at the Cleveland Clinic. She completed her undergraduate degree in Applied Health Science at Wheaton College and her DPT at the University of Missouri. She specializes in outpatient orthopedics, vestibular rehabilitation, and treatment of chronic headaches in an interdisciplinary program called IMATCH.


  1. Helpful. Thanks! Reddit personal finance is also a good place to find a guide to get started and ask questions. People answer promptly and the group is large enough and filled with enough people that know what they are talking about (that are also quick to correct one another) that it is easy to get the answers and info you need.

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