Monthly Archives: December 2016

Doctor in Debt: Annual Letter 2016

Welcome to the first Annual Letter for Doctor in Debt.  Now that 2016 has wrapped up, and we are just hours away from a new year, I cannot help but get excited to see what 2017 will bring.   Before we kick off next year,  let’s see what this year brought us.

What I Accomplished in 2016

2016 was a year of action for me.   I tend to be a perfectionist by nature, and this trait worked well for me in school and at my day job as a physician,  but waiting for perfection as a writer is counter productive.  I had started then stopped the process of blogging at least a dozen times, but 2016 was the year that I sat down and made it happen.

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How a Personal Line of Credit Saved Me From a Cash Crunch.

What is a Personal Line of Credit

A personal line of credit is an unsecured revolving account with a variable interest rate allowing you to borrow money as you need it.  Essentially, you can use it as a credit card to cover significant expenses at places that don’t take credit.

The Major Benefits of a Personal Line Of Credit:

First,  I would like to be clear that you never want to borrow money unless absolutely necessary.   I use a personal line of credit to smooth out major expenses and want to share what I learned looking for and setting up my account.

Warning:  If your problem is an imbalanced budget, a personal line of credit is not the answer.  Borrowing for routine living expenses is a sure-fire way to end up in the poor house.

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