Episode 25: Preventing burnout by learning more about money with the MoneyfitMD Dr. Latifat Akintade

The latest BOSS Business of Surgery Series podcast features Dr. Latifat Akintade, the MoneyfitMD. She coaches women physicians about money so they can burnout less. We had a great talk about how our thoughts and fears about money can hold us back. She had some great insights including:

- Separate the money we make from our value as a human. Money is a thank you for the work that we do, but it is not the measure of who we are. Unless we do that, we will never feel like we have enough.

- Simplifying the language of money shows us that it doesn’t have to be hard. And we don’t have to learn everything about money right away, or even learn everything there is to know.

- Recognize when we are feeling fear or shame about money, and that these come from thoughts that are holding us back (like money is hard, money is bad, I am too busy, I am greedy if I think about money, I should have learned all this already).

- When physicians have money, we do good things with it.

- We already have the tools to succeed with money

- Slow down, rest, relax, don’t burnout learning about money

She shared her Financial Liberation Plan:

1. Know you why- why do you want to practice medicine, why are you choosing this life. Explore the limited beliefs and past traumas to learn more about how you are approaching money.
2. Identifying your own unfair advantage- We all have characteristics that will help us be successful. For example, as doctors we know how to study, learn, collaborate with others, asking questions and, figure things out. Turn that flashlight on to knowledge about money
3. Look at the numbers- find your minimum viable expense. If you lost your job, how much would you need to get by? It’s often less than you think.
4. Diversify your sources of income- and it doesn’t have to happen in one day
5. Empower ourselves, find our communities and invest in ourselves. She noted that her networth increased as she increased investment in herself. I noticed that when I invested in myself, that was when my life started to change, too.

You can find more about Dr. Latifat at:

TheMoneyfitmd podcast:  https://www.moneyfitmd.com/podcast

And her core money curriculum at:  https://www.moneyfitmd.com/msb