Most physicians live at or below their means, according to Medscape's physician wealth and debt report 2019.
Medscape analyzed responses from 19,328 physicians in more than 29 specialties to determine their insights.
Statistics on physician saving and spending habits:
1. Seven percent of physicians surveyed said they live above their means, while 41 percent said they live below their means and 52 percent said they live at their means.
2. Forty nine percent of physicians said they keep a mental budget of expenses, while 18 percent keep a formal written budget and 34 percent don't keep a budget at all.
3. Forty eight percent of physicians said they don't have a savings target, while 52 percent said they do.