Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

NHS Doctor explains: How to Build Your Emergency Fund for Financial Security as an IMG

1 Apr 2024 · 1 min

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Video excerpt in which Ndubuisi 'Andy' Egwim, an NHS doctor, advises International Medical Graduates (IMGs) to build an emergency fund by saving three to six months of normal living expenses. He urges creating a monthly budget that covers essential costs (rent/mortgage, car costs, utilities) and prioritizing saving rather than relying solely on extra shifts.

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IMG is trying to do multiple shifts so that they can get a bit of money to send home and to pay for stuff. I think the very critical thing, the next thing is to start building an emergency fund. And an emergency fund is basically three to six months worth of your normal living expenses. So if you sit down, you make a budget. How much do you really need in a, in a month? Your obviously your rent or mortgage. If you drive a car, maybe the cost of your car. If you, if you pay, cancel.