This might not be common knowledge but the best prepaid cards function like a combination of a checking account and a credit card. In most cases, they are provided by bank holding companies. In addition, they are branded by established financial institutions.

Before using your best prepaid cards, you have to load money onto the card first. Just like a credit card, you can use your prepaid cards for online and merchant transactions and ATM withdrawals. Also, just like most credit cards, the best prepaid cards are accepted and honored where most credit cards are accepted.

While prepaid cards have a few common features that are similar to credit cards especially when it comes to functionality, its financial features are more identical to that of a checking account. What this means is any amount that is deducted or withdrawn is deducted directly from the balance that is available on your prepaid card.

Fast Facts About Prepaid Cards

Are you considering getting a prepaid card? Below are some fast facts about prepaid cards you need to know:

1. Many consider prepaid cards as awesome alternatives they can use for common transactions that will require the use of credit cards. That said, prepaid cards can be very valuable for people who don’t have access to banks as well as those who have little to no knowledge in terms of how they can be used and how they work.
2. Prepaid cards are also considered the ideal alternatives for those who have no access to banking services. They are also great financial tools for those who have been locked out of the banking system because of their poor credit scores.
3. Those who like to give out gift cards as tokens would be glad to know that prepaid cards would be much better alternatives thanks to their awesome features. For instance, some prepaid cards offer benefits that are offered by most credit cards like protection in the event of theft or loss.
4. Oftentimes, you cannot use cash to pay for online products and services. The good thing is prepaid cards can be used to pay for most transactions you will do online. Unlike gift cards, you can use your prepaid cards to withdraw money from the ATM.
5. Thanks to the peerless benefits they offer, prepaid cards have become one of the fastest growing niches in the financial space. Many experts predict that the number of prepaid cards sold will reach as much as 22 percent yearly from 2015 to 2020. It has also been predicted that the total amount that will be loaded to prepaid cards will amount to as much as $116 billion by 2020.
6. To pick the best prepaid card that will suit your needs, it is recommended that you analyse your spending habits thoroughly. From there, you can easily choose a card that will charge less in areas/transactions where you are likely to be charged often. For example, if you use your card often for various transactions, it would be smart to opt for a prepaid card that will waive fees as soon as you exceed the number of transactions allowed.
7. Another important tip you should remember is this: when looking for a prepaid card, find one with a structure you can easily understand. You have to keep in mind that some providers of prepaid cards use a flat-free model while others will charge users for most card transactions. Meticulously analyse your monthly transactions using your prepaid card so you can assess if a flat-free model would suit you best.

There’s a reason why there are nearly 750,000 physicians and surgeons found in the United States. We rely on these medical professionals every day to take care of us when we’re sick.

It’s well known that doctors earn a higher salary than the typical profession. But exactly what is the average doctor’s salary for 2022?

If you want to know the answer, you’re in the right place.

In this article, we’ll walk you through everything you need to know about the average doctor’s salary. That way, you can decide whether or not it’s the right profession for you. Let’s get started!

The Average Doctor’s Salary for 2022

The median salary for a doctor in 2022 is around $180,000 per year. However, this figure can vary rapidly. Doctors in the top 90% of earners can make as much as $340,000 per year.

However, doctors in the bottom 10% make around $94,000 per year. The good news is that even the worst doctor’s pay is still decent money.

Still, when you factor in all the education and costs required to become a medical professional, these low-paying jobs might not seem worth it.

What Factors Influence Doctor Salaries?

The salary difference between $94,000 per year and $340,000 is pretty wide. So, what accounts for this doctor’s earnings discrepancy? Many factors can determine why one doctor makes more than another.

In this section, we’ll go over some of the main factors that can affect the price.

1. Speciality

Procedure-oriented doctors make a lot more money than primary care physicians. They earn an average of 40% more. Since their practices require specific skills, there’s a higher demand for them.

The trade-off is that these high-paying positions require a much longer residency to get. The highest-paid specialties are cardiologists, plastic surgeons, orthopedic doctors, brain surgeons, and radiation oncologists.

2. Geographic Location

National averages for doctor salaries can be a little misleading. That’s because geographic location plays a huge factor in how much you will be paid.

If you choose a state with a lot of doctors, like New York or California, you likely won’t earn that much. But, if you choose an area where there’s a shortage of your specialty or just primary care doctors in general, you can earn a lot more.

For example, the average doctor’s salary in California is $161,955. But, in Mississippi, where there’s a shortage, the average salary is $202,911.

So, if you’re willing to relocate to where you’re needed, you stand to make a lot more money.

3. Department Rank

Hospitals and healthcare facilities typically reward those who stay with them for a long time. This can be seen by the fact that doctors with a higher rank earn much more than the standard primary care physician.

You may also make more if you’ve been at a hospital for over a decade. Management tends to reward loyalty with higher salaries.

4. COVID-19

External factors can also influence a doctor’s salary. One example is the recent COVID-19 pandemic. Many healthcare leaders reported that their organization’s compensation was affected by the pandemic.

These types of events place stress on certain parts of the healthcare industry, like hospitals and ICU areas. But it also reduces the necessity of others typically due to widespread economic reasons amongst patients.

Many patients may also stay away because of social distancing. While this trend is dying down, it’s important to note that it can easily happen again for one reason or another.

What Type of Education Do Doctors Need?

There’s a reason why most doctors are paid a lot of money. Doctors require a huge amount of education after high school. At a minimum, this comes to eleven years of continuous education.

So what would you do in these eleven years? First, you will need an undergraduate degree in chemistry, biology, physics, or a specific education course related to healthcare.

While earning your undergraduate degree, you will need healthcare experience. You can get this by volunteering at a hospital or medical clinic. Now, it’s time for medical school.

But before you can get in, you will first need to pass the standardized Medical College Admissions Test (or MCAT). After that, you will need four years of medical school at an accredited university.

Once you graduate from medical school, you will begin your residency program.

During this time, you will decide what medical specialty you want to focus on. Your residency will last between three and seven years depending on what specialty you decide on.

What Financial Challenges Do Doctors Face?

It takes a long time for a doctor’s income to increase. And before that happens, you will likely need to take on a lot of debt in student loans to afford education.

Once you become a doctor, you will need to use your finances to both prepare for retirement and protect against the unforeseen. Some vital areas to focus on include:

• Disability insurance for if you’re injured on the job
• Loan repayment strategies
• Life insurance to protect your family
• Retirement planning
• Tax planning to avoid unnecessary taxes associated with upper bracket earnings

Sadly, doctors are busy people. They often don’t have time to give these financial challenges the attention they deserve.

That’s why we always recommend investing in a trusted physician financial advisor. They can take the stress off your back by focusing on every part of your finances.

Enjoy Learning About Doctor Salaries? Keep Reading

We hope this article helped you answer the question “What is the average doctor’s salary in 2022?” As you can see, doctors have one of the highest salaries in the country.

But when you calculate the time and cost of schooling, it’s easy to see why this salary is so high.

If you found this article informative, then you’re going to love some of the other topics that we have. We have categories in everything from business products to personal finance, so keep reading our articles to learn more.

If you want to start a business in 2022, then it’s the right place. Today we talk about the latest online business ideas you should invest in right now.

Online Copy Center

The essence of the online business idea is simple, but original. Surely you have come across a situation where you need to print some documents, but you do not have a printer at home, and there is no copy center nearby. What to do? This question will be answered by the online copy center service.

The essence of the idea is as follows: the client sends you an electronic file with text by email. These can be term papers and theses, electronic tickets, photographs, etc. You print them, staple them if necessary, pack them and send them to the customer via courier. That’s the whole scheme. Documents can be edited for a fee. 

Music industry online

Promote a brand and get a percentage from the sales. You can start promoting new musicians and there will be a big chance to get those musicians into the level of Beyonce, Ja-Rule, etc. Yes, it will take years but in the end, it always pays off. Nowadays, music companies don’t have big obstacles – you don’t need to know people on the radio, TRL, MTV, etc. There are services like Spotify, SoundCloud and other platforms that can deliver your music to another level. You can buy Spotify streams PayPal integrated to jump-start the music campaign. Then ask the musician to stick with a particular schedule and bring new track over the particular time to keep the marketing campaigns online

Maintenance of pages in social networks

Social media marketing is an online business that provides services for effective promotion on Internet sites. As soon as companies appeared on social networks, the SMM sphere has spread and today is a necessary part of the advertising campaign for many companies. Now the service is in great demand in the market. A competent specialist will be able to create a successful business on this. You can start with a zero budget – and independently search for orders. And then, in the future, having built up a client base and gained experience, opened a full-fledged social media management studio that unites several specialists.

Conducting transformational games online

What is the meaning of the game practice business? The essence is in the very word “gaming practitioner”. One way or another, the game being played is connected with practice, with reality: work and business, social, family and personal life. In other words, gaming specialists conduct games in the format of training on various topics. 

As a rule, the presenters are active business representatives, coaches, psychologists, advertising specialists, specialists in narrow areas of activity, but there are no strict conditions for the presence of a particular education or diploma. Today, it is better and more profitable to conduct psychological transformational games with psychological cards not in person, but online, by launching a business at online events with virtually no investment.

Does the process of purchasing an apartment or house scare you? Well, you are not alone.

It is a common misconception that buying a house takes a lot of effort. If you know the proper process and have clarity of thoughts, buying a home won’t be difficult. There are multiple decisions to be made, and it is essential for you to know what you want.

This article will usher you through every step, including the process of house selection and flexible lending.

Prepare a Budget

Determining how much you can afford will help you limit your house choices.

It is generally recommended not to look for houses that are more than thrice your annual income. Although a lender will tell you the amount of loan you are qualified for, it is best to have a realistic idea for yourself.

Make sure that the budget you prepare does not hinder your other daily expenses and is worth spending.

Ascertain the Amount From the Lender

It is crucial to compare different lenders and their credit terms and choose the one that suits you the best. It is advisable to go for flexible lending to make the loan process more straightforward.

Before you start your search for a perfect home, you should determine the amount you are qualified for from the chosen lender. Accordingly, you should look for a property.

Get your loan pre-approved after providing the required documents and following the necessary procedure. This step guarantees you the loan amount.

Find the Desired House Property

Since by now you will know the amount you can afford, look for a house that falls in your range.

Another critical decision you have to make here is the location where you want to buy a place. Make sure to choose a locality that fulfils all your necessities.

Determine the worthiness of a house for your money and decide accordingly.

Inspect the Chosen Property

After finding a house that you like, get it inspected. This step will help you identify the areas where a place needs repair.

Once you get the inspection report, you can agree with the seller regarding who will get the damages fixed. Getting the house inspected will help you place the correct value on the house.

Get a Home Appraisal

A third party conducts a home appraisal. They determine the right price for the chosen apartment or house. According to the appraised value, a lender provides you with funds.

It is important to note that the lender will not provide any extra amount other than the appraised value.

Home Insurance

Although buying home insurance isn’t mandatory, it is advisable to do so.

Home insurances get you covered in the case of any damage occurring to your property. There is a variety of home insurances to choose from. Select the one that meets your interests and needs.

Close the Deal

Closing the deal will transfer the title from the seller to you. Complete all the required paperwork to get your loan amount funded.

Once the seller receives the amount from the lender, you are eligible to move into the house.

Bottom Line

A study suggests that an Australian spends almost ten months dreaming of a house. Therefore, it becomes critical to have a clear head throughout the process. Even though the process takes time, it is worth the wait.

Go ahead, buy a house and make it a home!