Personal Financial Wellness Curricula for Medical Trainees: A Systematic Review

Wesslund, Hannah M; Payne, Jeremy S; Baxter, Jared D; Westmark, Danielle M; Bartels, Karsten; Bailey, Kristina L.; Krutsinger, Dustin C.

doi:10.1097/acm.0000000000005136

Cited by 8 publications

(10 citation statements)

References 26 publications

(183 reference statements)

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“…In our sample of respondents, only 12% had a formal nancial literacy curriculum as a mandatory component of their residency Importantly, our study demonstrates that residents are strongly interested in the implementation of a formal curriculum and that residents wish to have a physician perspective, radiologist or not. Two systematic reviews on current personal nance training programs for medical trainees demonstrated that the majority of the primary studies rely on physician instructors (Igu et al, 2022;Wesslund et al, 2023). It is probable that residents wish to be taught by physicians who have an implicit understanding of their training journey through medical training and can offer guidance as they start their career.…”

Section: Discussionmentioning

confidence: 99%

“…The desired topics of nancial education do shift throughout a physician's career but are still greatly desired, no matter the time (MD, 2019). From prior studies, some topics of interests to residents include managing student loans, disability insurance, retirement savings, and general personal nance (Wesslund et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

“…In addition, identifying their current nancial status such as their debt level would allow for assessing the need for teaching concepts such as debt management. This foundational understanding is particularly important when it comes to the Canadian nancial landscape, as the majority of studies in this eld have been done in the United States (Gianakos et al, 2023;Wesslund et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Investigating Canadian Radiology Residents’ Personal Financial Literacy: A Nation-Wide Assessment.

Sharifabadi,

Bellini,

Alabousi

et al. 2023

Preprint

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Introduction:Resident physicians throughout Canada carry large debt to finance their education. The literature suggests that debt and money management both play a large role in day-to-day life decisions and in deciding the future of physicians. The objective of this observational study is to assess the financial literacy of Canadian radiology residents through testing their financial knowledge and obtaining an understanding of their financial wellness. Methods:A survey was designed to assess the financial literacy and current financial status of radiology residents. After a pilot run to ensure robustness, the survey was distributed nationally to Canadian radiology residents via Google Forms. Descriptive analyses on preliminary data and the association between level of training and financial quiz scores were obtained. Results:In total, 104 valid responses from 16 universities were received. Respondents’ levels of training were spread across the 5 training levels. The majority (53%) of residents indicated that their debt was greater than $150,000, yet only 12% of residents stated they had a formal financial residency curriculum. The average score of residents on the financial literacy quiz was 71% and survey quiz scores were not associated with training level (p = 0.71). The majority (89%) of residents indicated a strong interest in a formal financial literacy curriculum, with 80% stating they would like the curriculum delivered by other physicians. Conclusion:Our findings demonstrate unique insight into the financial literacy and demographics of Canadian radiology residents. Overall, residents face a high debt burden and the majority feel that they do not have an adequate financial literacy curriculum in their program. Current resident physicians value a formal financial literacy curriculum as a part of their residency program despite existing financial knowledge. Most importantly, residents feel that a curriculum created with involvement of other physicians would be optimal.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Investigating Canadian Radiology Residents’ Personal Financial Literacy: A Nation-Wide Assessment.

Sharifabadi,

Bellini,

Alabousi

et al. 2023

Preprint

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show abstract

“…We appreciate the work Wesslund and colleagues 1 conducted in their review of personal financial wellness curricula and agree with their conclusions. Implementation of personal finance courses during medical training provides a unique avenue for combatting personal stress and physician burnout.…”

mentioning

confidence: 99%

Discussing Personal Financial Wellness: A Medical Student Perspective

Aggarwal,

Bohler,

Geloian

2023

Acad Med

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“…Given that debt is a nearly unavoidable reality, strengthening the financial literacy skills of physicians-in-training is an important and worthy goal, as discussed by Wesslund et al 26 in their systematic review in this issue of Academic Medicine. The authors identified 13 published studies of 13 personal financial wellness curricula for medical students, residents, and/ or fellows.…”

mentioning

confidence: 99%