204. The Frugal Physician: Disha Spath, MD, FACP

Dr. Disha Spath, an internist and hospitalist based in upstate New York, shares her inspiring journey from India to the United States, reflecting on how personal hardships and cultural transitions shaped her views on success, financial stability, and the importance of financial literacy among physicians. She discusses the impact of a traumatic childhood loss, the financial challenges of medical education, and her determination to create a secure future for her children—free from the uncertainties of financial instability.

Dr. Spath’s story highlights her family’s deep roots in healthcare and her father’s struggles with mental health, which ultimately led to their relocation to the U.S. She recounts the challenges of adapting to a new culture, navigating language barriers, and overcoming socioeconomic obstacles. Her academic journey took her to the University of Georgia for her undergraduate studies and later to the Medical College of Georgia, where she faced the rigorous demands of medical training alongside the realities of significant student debt.

As an attending physician, Dr. Spath recognized the widespread financial pressures faced by many in the medical profession. This realization led to the creation of her initiative, The Frugal Physician, which empowers fellow physicians to take control of their finances through mindful spending, strategic investing, and a frugal lifestyle. She outlines the key strategies she employed to become debt-free, including reducing unnecessary expenses, downsizing her living situation, and utilizing a debt snowball approach to accelerate loan repayment.

Dr. Spath underscores the importance of maintaining a strong financial foundation by managing the gap between income and expenditures while maximizing financial efficiency. She advocates for early investing, understanding the tax code, and strategically leveraging debt for wealth-building opportunities.

For further insights and resources, Dr. Spath offers financial guidance through her website, The Frugal Physician, and her podcast, Finding Financial Freedom with The Frugal Physician. She continues to foster discussions on financial well-being through her online community and social media platforms, encouraging physicians to take charge of their financial health.

 

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Music by Ryan Jones.
Find Ryan on Instagram at _ryjones_, Contact Ryan at [e-mail]

Production assistance by Clawson Solutions Group, find them on the web at csolgroup.com