Secrets To Overcoming The 5 Biggest Challenges IMG Doctors Face

When I first arrived in the UK about nine years ago, I was hit by culture shock, visa worries, financial pressures and the reality of new responsibilities all at once. Luckily I had a support network at the university where I was doing my master's and that made a huge difference. But one experience really stood out for me. A friend of mine, also an IMG doctor, really bubbly, vivacious person, one of the most upbeat people I knew, she shared with us about her recent struggle with mental health. She was shocked when she was diagnosed with seasonal affective disorder. So she's come from a sunny year round climate compared to the long dark UK winters. It threw her off completely. The lack of sunlight was something she'd never had to think about before and it really impacted her many mental health. And she wasn't alone. There are countless examples. I mean another brilliant colleague went through this his own battle. A physician who was struggling with low mood. He found it difficult to accept that he might be dealing with depression. So but after a GP visit he had some blood tests and it was found out that he had a massive vitamin D deficiency. So after six weeks of treatment it made a huge difference, helped him get back to his old self. His mood suddenly remarkably improved. So these stories highlight a truth that we often overlook as IMG doctors. Being an immigrant adds unique pressures that go beyond whatever you learn in medical school. So in this episode I'll dive into my journey, share real stories, explore strategies to drive both financially and mentally in a different country, and I'll share my own strategies that helped me focus almost a decade. So if you're new here, welcome to the Money Wise Doctor podcast. I'm Dr. Andy Egwim. I'm a former salary GP, I'm an entrepreneur and investor and I founded Money Wise Doctor to help doctors and healthcare professionals make smarter financial decisions. Back to the topic. This topic is not a typical financial topic, but it resonated quite a lot with tax thousands of doctors, hundreds of doctors actually commented or liked or, you know, reacted to my post about this recently on LinkedIn and Facebook. So I thought it was really quite important to address. Now the main issues here is not just about the medical baits or the work, but there are some unique issues IMG doctors have to deal with. One of it is cultural boundaries. So adapting to a new culture is more than just learning the language. For instance, think about British phrases like quite good. So it might sound like something positive in some places, but it often means the opposite. And of course the original dialects can make it feel like you're Learning English all over again, trying to constantly adapt, smile, do the small talk fit in. It can become exhausting for a lot of people, especially when you're near. Now there's Number two, visa and immigration issues is the big elephant in the room. Visa anxieties One of the most common worries IMG doctors always ask is will this affect my ilr? Will it affect my ability to get an indefinite leave to remain as a permanent visa? So you see people I've seen IMG doctors who say, oh, for several years I didn't open the lifetime ISA or even think I was eligible to do this and that because I thought, well, I don't have my ILR yet and I don't want anything that will affect it. I don't want to touch public funds. Number three financial responsibilities. Balancing finances across countries. And that touches on visa as well. I spent close to £10,000 by the time I was getting my British citizenship before I got to that point. Many IMG doctors have to spend as much as that and manage their bills here in this country and also manage at home where they might have several dependents. So a lot of IMG doctors might have dependents families they are responsible for supporting through school or through health or different issues. So that means you're balancing your budget in two different countries. Imagine combining that with an IMG doctor who has a family of four, maybe two children and a partner. They probably spend a few tens of thousands just by the time they get their British citizenship. Alright, the game has changed. HMRC has changed the rules around claiming back taxes for your professional expenses. Thousands of doctors like you have used the guide on moneywisedoctor.com taxreliefguide to claim back several thousands of pounds in tax relief for things like gmc, mdu, bma, Royal College expenses. And previously you could just walk through the guide we made online and do all of it online and get your tax relief. But now HMRC has made some changes. You can no longer just do it all online. You can start the process online or you now need to post the actual paper receipts to them. Of course you would have known all about this if you are subscribed to the moneywisedoctor.com weekly newsletter. If you've missed out. If you haven't been getting that newsletter, that means chances are that you're missing really quite useful financial insights and tips that we share on weekly basis. So what are you waiting for? Head over to www.moneywisedoctor.com subscribe to make sure they are getting all the insights we're sharing weekly in terms of investments, pension, taxes, ISAs and every other thing that is really quite useful for doctors to make smarter financial decisions and avoid costly mistakes. We'll jump right back to today's episode. There are some coping strategies that have been very useful in managing all this and my mental health as well. One is daily works. Taking an hour of daily work, it mentally recharges me, helps me clear my mind, it gives me the chance to catch up on podcasts or audiobooks and it's really quite refreshing. And it's exercise as well I guess. Number two writing so journaling can be quite therapeutic. It keeps me grounded, it putting my thoughts down and helps me gain perspective. Allows me to share insights that also help others. That's why I write daily and sometimes you see me publishing Number three Don't isolate yourself. Isolation can worsen stress. Connect with your community. Whether it's your friends or workplace, religious groups or professional networks. It helps to keep you grounded. So whatever you do, don't be don't. Don't do the work alone. Of course, number four is prayer and meditation. Whether you're religious or spiritual, meditation have been proven to make a lot of difference. So it can help you to reconnect with your purpose, help you to keep you centered even on difficult days. Of course, number five is really quite key financial planning. So having a solid financial plan, it's been a game changer for me. Knowing what's happening with my money, knowing what my finances are and making sure they're in order. It helps me to feel a bit more secured and not worried about my financial future. There are a few financial wellness tips I'll suggest, especially if you're an IMG doctor. One would be savings. So build a savings cushion. It's it's quite good for your peace of mind. It helps you stay flexible, help you to focus on long term goals without worrying about your immediate needs. Part of why I was able to leave my salary GP job was because I didn't have to worry about a monthly salary. Number two Debt management. High interest debts like credit cards can be overwhelming. Avoid them. Reducing debt frees up income. For goals like professional development or even family needs, you might want to cut down 80% or whatever. Number three emergency fund. So that's back to saving again. Saving three to six months of your living expenses as a buffer against unexpected costs like job changes or even expenses that come out so that it doesn't derail your financial plan. 4. Obviously, understanding the credit system. This can actually be a stumbling block for a lot of IMG doctors so you need to understand how the credit system works, what can affect your credit score and if you're not really sure or you're still confusing, if you head over to Moneywise doctor And check the links as well, we'll put it there. There's an article called 11 Costly Mistakes img Doctors make that can ruin their credit score. So you can get it with the links in the description or you can check it on Moneywise Dr. It explains clearly what can affect your credit score and what you can do about it. Now number five for six is take advantage of Tax Advantage accounts. Yeah, that's double advantage. So if you hear isa, if you hear about things like claiming your tax relief and if you're eligible working outside IRA 35, think about making yourself as much as possible tax optimized. That way it's almost like earning double. So always ask questions and if you need to speak to an accountant or find out from other IMG doctors really. So IMG doctors really face a lot of challenges that always go unnoticed. Not a lot of feet is obviously visible. It could be mental financial stress. It's achievable to be able to actually thrive in the UK as an IMG doctor, but you need to look at things like cultural adaptation, how to deal with financial anxieties, how to deal with visa issues and actually take steps to protect your own well being. So mental health is not just a luxury, it's a necessity as sustaining a long rewarding career in a new country requires that. So whether it's a daily work journaling, connecting with loved ones or setting up a clear financial plan, every step counts towards building a balanced and fulfilling life. And I know a lot of trusts and a lot of dinneries have actually set up stuff that might be helpful. So find out from your local trust if there is something that is available. In terms of support for IMGs, most times we're seeing real support, not just tick box exercises. I'll be yes, we have something for IMGs. Tell me in the comments, did you learn anything? Did you pick up anything or what is one way you keep financially and mentally well? What is one way you take care of yourself while in the uk? Share in the comments I think someone said they try to travel once every year and that's fantastic, right? So I hope that has been helpful. Well if you haven't already subscribed, we have moneywisedoctor.com we send out a weekly newsletter that shares financial insights for doctors and healthcare professionals, helps you make smarter financial decisions around your investing pension, taxes. And basically we cover things that most doctors actually miss out that eventually cost them quite dearly in the future. So it's all about avoiding costly financial mistakes. Next week we're going to be unpacking the new Labour government taxes and the budget and the new plans that might actually affect things like ISA or pensions. We will see. I'll be discussing it in detail, so if you haven't subscribed, hit that subscribe button. And thank you once more for joining me on Mono Doctor podcast. And watch out for our next episode on the upcoming budget and how that might affect our financial future as doctors. And of course, feel free to share this to a friend who might actually find it useful. Alright then, Cheers. Bye bye.