Meredith Jones, Carrie Jurney
In this chapter, the authors discuss financial health, common financial struggles among veterinary professionals, and strategies for personal financial management. According to the 2022 Merck Veterinary Wellbeing study, veterinarians who worked with a financial planner experienced lower rates of serious psychological distress and reported better overall well-being, with 60% flourishing compared to 45% without a planner. Managing consumer debt and credit is essential in personal finance. According to the Merck Wellbeing Study, high levels of student debt are the second-highest risk factor for well-being concerns, and student debt is a common reason cited among veterinarians who would not recommend their profession. When planning for financial stability, some thought must be given to the unexpected. Compensation models for veterinary professionals vary between and within job roles in the clinic. There are several pathways to practice ownership, each offering different levels of control and financial investment.