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The Gift of Emotional & Financial Health

BETTER TOGETHER: Give yourself the gift of “Emotional and Financial Health” this holiday season

Recently, I was asked by an R3 resident, “How can I have a ‘happy January’? I often overspend at Christmas, by shopping to relieve stress and to escape all the pressures at work and at home.” This question is one I’ve heard many times. Christmas can be a stressful time of the year, financially as well as emotionally. Fortunately, it was a question Bobby and I have also answered many times. I responded, “Did you know every medical resident in BC has access to a full scope of wellness benefits that are free of charge and offered by Vancouver Coastal Health’s Employee and Family Assistance Program (EFAP)? The program includes emotional coaching and a financial literacy coaching program to help get your emotional health and financial house in order.”

FLC EFAP Resident Doctors of BC partnershipAs part of Resident Doctors of BC’s (RDBC) mission to promote the professional, personal, and financial well-being of residents, The Financial Literacy for Residents Program was launched as part of its benefits plan in 2011. The pre-launch process included consultations with Executive Director Pria Sandhu and a cross-section of residents across several specialties. Moreover, we received valuable input from Dr. Stacy Sprague’s 25 years of front line clinical experience serving physicians and their families as Executive Director of Vancouver Coastal Health EFAP.

“Cure without care is more harmful than helpful.” – Henri Nouwen

In the past 16 years serving medical professionals as financial coaches and planners, Bobby and I have come to realize that doctors often tend to gravitate to the cures du jour and often make hurried financial decisions because of an upcoming deadline or sales pressure from pushy financial and investment advisors.

Bobby and I believe in a collaborative approach to providing a continuum of care to look after the emotional, mental, and financial well-being of medical residents throughout the province. We are committed to working as a “care team” alongside Dr. Sprague and her team at VCH EFAP to ensure that you are present both at work and in the relationships that are important to you.

What sets the Financial Literacy Program for Residents apart is we are here to listen and journey alongside you and your family, supporting you in making wiser and carefully considered financial choices. Residents value the time they spend with us because we are neutral and we take the time to listen to their individual stories, building long-term relationships that are free of coercion or pressure to buy anything after meeting with us.

To date, we have provided over 300 financial literacy workshops in hospitals and distributed health sites throughout BC. Moreover, we have provided over 2,000 private financial consultations for VCH, FHA, PHSA, and Providence Health Care.  These workshops and coaching sessions do not promote any financial institutions or their products. They are designed to provide a safe and integrated approach to receiving unbiased financial, tax, and legal advice, or a second opinion on the various products you are currently financially committed to as you transition into medical practice.

What does the program include?

As a Resident Doctors of BC member, you are eligible for the following complimentary services every year:

1) Integrated financial literacy, tax, and legal advice

  • You receive 3 hours of financial and tax coaching every year.
  • You receive a yearly financial check-up and prescription so that you can keep more of what you earn, pay off loans sooner, and grow your savings.
  • One hour of legal counseling for incorporation, family law, wills & estates

2) Annual tax preparation clinic in March

  • Get your taxes prepared for free by qualified CPA certified accountants at the Resident Doctors of BC TAX CLINIC. Keep an eye out for the event announcement from Resident Doctors of BC.

3) Financial Education

  • Residents can request and customize a group workshop for an event, academic half day, and retreats.
  • Attend financial education workshops throughout the year via RDBC sponsored events, including the Annual Parenting Workshop.

Article courtesy of Alphil Guilaran and Bobby Ning, the founders of Financial Literacy Counsel. 

Please do not hesitate to contact Bobby Ning (Managing Director) at bobby.ning@flci.ca or 604.620.6630 to experience the gift of emotional and financial health by booking your private financial coaching session, pre-registering for the annual tax clinic or scheduling a customized catered financial workshop for lunch and learns, academic half days or retreats in the lower mainland or Victoria. By special request, our team can also serve residents in Prince George, Powell River or Kelowna.

author: Melissa Nilan