Did You Know

I'm being paid as a third year resident despite the fact that I am a second year registrar.  It is a $16, 000 per annum difference, which is a lot.

Is there anything I can do about this? I did speak once to the RMO office and they basically said that we are paid based on our post-graduate year rather than our level of responsibility. That is that. It does feel incredibly unfair. I've spent $7000 this year on books, courses, flights to courses and registration fees. It will increase next year with the exams and all that. Having the extra pay would be incredibly helpful.

The aim is to save for a house deposit over the next 5 years. The question is how. Everything is ridiculously expensive. Goodness knows how many young people my age got a leg up from their parents in purchasing their first home. A crumbling Victorian single front house with the toilet out in the back yard can cost $900,000. I kid you not. That is Melbourne and Sydney for you. A couple could split the 10% deposit and mortgage costs for what the real estate agents would call a 'renovater's dream'.  Then there is the longer term goal of saving for retirement. It may seem silly to think about it before 30, but I think that is something a single person should really, carefully consider. When I'm old and crumbly like that Victorian house, I'd like to be able to pay for a nursing home.

And how about short term goals? Buying my own microscope. Going on holidays. Bags. Oh, yes. Bags.

Should I get into shares? Be a part of a mutual fund? What the heck is a mutual fund? When should I start contributing extra to superannuation? Sometimes, all these thoughts interfere with my sleep. Man, why can't I win a bloody lottery?

That extra $16, 000 would have been handy.