Episode 34 starts off our financial well-being series on how finances affect pharmacist burnout and burnout in healthcare. Let’s stopped using our graduate student loan debt as an excuse for staying trapped in jobs we dislike and start your debt-free journey today with a FREE Kakeibo workbook template. I went debt-free and SO can you YOU with these tips and ways to diversity your income streams and ensure finances are affecting your well-being, stress and burnout feelings.
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Mentioned on Ep 034: How Finances affect Pharmacist Burnout – How do finances affect pharmacist burnout? Feeling trapped with student loan debt – The Burnout Doctor discusses her debt-free journey using the Japanese Kakeibo method
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Hi friends and welcome back to The Burnout Doctor Podcast, I’m your host, Dr. Jessica Louie. Welcome to episode 34 where we’re talking about finances and how they affect pharmacist burnout.
Honestly, I was blown away by the response to last week’s episode on 8 things to declutter that aren’t actually things! So many of you reached out to me via email and LinkedIn message to tell me what you’re decluttering – both in your home and in your lives. A lot of you resonated with the mental clutter, calendar clutter and financial discussion.
So today I’m diving deeper into how finances influence burnout. This is perfect timing, I’m also discussing the Tim Ulbrich on Your Financial Pharmacist podcast #135 that airs today about this topic!
I’m going to go into more details about my financial status when I was burned out, how it influences burnout and what I did about it. Remember to refer back to Episode 1 and Episode 2 on my burnout story.
I was feeling burned out in residency and first career.
I was exhausted. One symptom of burnout syndrome.
One reason was picking up extra shifts to work in the hospital, working holidays to get extra pay and feeling like I need to continue residency hours 60-70 hours a week.
What was my financial situation at the time of burnout?
I had student loan debt. I did not have a large savings account. I felt trapped
This is the same as many of my clients: feeling trapped. I needed my full-time job as a pharmacist to feel financial well. I think when we are in a poor financial situation it can contribute to more burnout and cynicism in our lives. Knowing our financial situation and putting together a plan helps. No, you do not need to be debt free to help feelings of burnout. While resetting and working on my burnout situation, I paid off my student loan debt.
I no longer felt trapped.
I wasn’t tied to a job just because of the paycheck.
I’ll be outlining how I went debt-free and saved 6-figures in a separate post.
First thing, I used the Kakeibo method to help me. There are details and free workbook on my website to see if this method will help you as well.
Next, I decided to follow those who succeeded before me. When we look at billionaires and successful financial people we find that they have on average 7 streams of income
Yes, I said SEVEN
So, I decided to diversity my income streams. If you’re feeling exhausted and burned out, don’t let feelings of being trapped make it even worse.
Make a plan
I didn’t suddenly create 6 new income streams in addition to my full-time position. I added a per-diem pharmacist position. Through the decluttering process I learned how to effectively sell items that no longer sparked joy – I teach my students how to do this through my Simplify Course as well in how to re-sell, recycle, repurpose or reuse physical items in your home.
Then I turned my blogging hobby into a small business
- Affiliate on – examples here
- Digital products – examples here
- Coaching programs 1:1 – apply here
- Coaching program group 12-weeks
- Online courses
- Speaking presentations and workshops – book here
- Physical products – purchase here
There are SO many ways to address financial well-being so it does not affect your burnout situation. All of us have unique skillsets. And those skillsets may align with value provided and someone’s willingness to pay for that value or product. Start slow and know your why behind it.
Now it’s your turn to take action. Share with me how finances are affecting your feelings of overwhelm and burnout.
More resources for you:
- Download the free Kakeibo resource to take action today
- 4-part series on Financial Well-being and Debt-Free living on the podcast
- Episode 35: What is the Japanese Kakeibo Method?
- Episode 36: How to Mindfully Shop?
- Episode 37: 5 Things I no longer purchase after going debt-free
My coaching program offers 30-minute weekly sessions to check-in for accountability, reflect on progress, answer and guide you through difficulties. Apply now at DrJessicaLouie.com/coaching.
Until next time, spark joy my friends!
*If you enjoyed this topic, will you take a screenshot of this episode and share it on your Instagram stories and tag me in the post. I’ll re-share it on my own stories.If you haven’t already connected with me, I’m most active on Instagram and LinkedIn – send me a friend invite and tell me what podcast episode has been your favorite!
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Note, my views are my own and are not associated or representative of my employer(s).
This podcast is for educational purposes only and not medical advice.
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