A Closer Look at Financial Literacy in New Veterinary Graduates

Darby Affeldt, DVM, RICP, is a financial advisor to veterinarians at North Star Resource Group in Seattle. In a recent dvm360.com article, “Why are so many veterinary grads financially illiterate,” Affeldt explored reasons why financial literacy is so variable among veterinary graduates. She said, “I ask students to rate their own financial literacy on a scale of 1 to 10—1 is Snoopy and 10 is Warren Buffett. The average is 3. It turns out that where they go to school makes a big difference.” Affeldt also examined loan forgiveness (she said it was not for everyone), insurance and her duty to help the profession by providing complimentary advising: “I pray that my experience will inspire others in this industry to step in, step up and bring our veterinary colleagues the resources they desperately need to start out on the right financial foot.” The Veterinary Debt Initiative (VDI) is led by the American Veterinary Medical Association, the Association of American Veterinary Medical Colleges and the Veterinary Medical Association Executives, and is committed to raising awareness and providing access to resources that enable pre-veterinary students, veterinary students and veterinarians to make highly informed financial decisions. For more information and valuable resources, visit www.VeterinaryDebtInitiative.org.