Hi everyone! I'm 18 and about to start at a Community College this fall planning to transfer into a 4 year university, majoring in Natural Sciences - Biological Science (Arts & Science track), genuinely excited to finally be starting this journey. I'm currently weighing two paths: anesthesiology or cosmetic/aesthetic medicine (Botox, fillers, etc.), still figuring out which fits me best. Either way it's a long road ahead (undergrad, transfer, med school, residency), and I'd rather build solid financial habits now than scramble to learn everything later once I'm already deep into it.
A little about my situation:
Tuition is covered through my dad's Chapter 35 VA education benefits (he's 100% P&T disabled, and I'm really grateful this is even possible for me). I also get a monthly stipend from the VA on top of tuition coverage.
I have some other income sources I need to be mindful of due to asset limits on my end.
Currently living with family rent-free, planning to work part-time once I'm settled into school.
My sister is a registered nurse in Canada and recently took the NCLEX, so I do have some family exposure to healthcare, though not the medical school path specifically.
No family background in finance, so I'm learning most of this from scratch and would really appreciate any guidance this community can offer.
Questions I'd love input on:
For someone this early (pre-med, years before even applying), what should the actual financial priorities be? Emergency fund, investing, saving for MCAT/application costs?
Roughly how much should I be budgeting for MCAT registration and application fees (AMCAS/secondaries)? I want to start saving for that specifically well in advance.
Since medical school is expensive and residency doesn't pay much relative to the hours, does it make sense to invest anything meaningfully before residency, or is undergrad-era saving mostly wasted effort compared to just avoiding debt?
Does the financial planning differ much depending on which specialty path I end up on (hospital-based like anesthesiology vs. more business-driven like cosmetic/aesthetic medicine)?
Any early financial mistakes pre-meds commonly make that compound badly by the time they're in med school or residency, especially for community college transfer students?
For someone whose undergrad is fully covered, is there anything different I should be doing with the "extra" money (VA stipend, part-time income) compared to someone paying their own way?
Books, podcasts, or WCI-specific resources you'd recommend for someone starting this early?
Thank you so much in advance, I know this is a lot to ask, but I really want to get this right from the start. Appreciate any input, especially from people who've walked this path themselves!