Physicians carry six-figure student debt, push through a decade of training income gaps, and finally reach attending pay with too little practice managing it.
Apple-native · No bank logins · iCloud sync
Resident pay averaged $67,400 in 2024 per the AAMC stipend survey, while first-year attendings often clear $250,000-$350,000. Going from one to the other in a single July is the largest income shift most professionals ever experience. Cash Compass tracks fixed and variable categories across the transition so the lifestyle inflation that wipes out 5-figure month surplus stays visible instead of automatic.
Average medical school debt was $212,000 in 2024 per the AAMC Education Debt Report, with about 73% of graduates carrying federal loans. Cash Compass tracks the monthly payment as a category — SAVE, PAYE, IBR, or standard — alongside everything else. It does not replace the servicer for principal-interest splits or PSLF certification, but it shows the cashflow impact week by week.
Between rounds, charting, and call, residents and attendings have no time to sit down with a budget app. Three seconds to say "Hospital cafeteria, twelve dollars, lunch" between patients keeps the log honest. Premium ($29.99/year) unlocks unlimited voice. iCloud sync means the same data shows up on iPad at home and iPhone at the hospital — no bank-sync to break when accounts shift through training.
Voice, photo of a receipt, or 3-tap manual entry — every method takes under 5 seconds.
Cash Compass picks the category automatically. Override once and it learns your pattern.
Weekly chart shows where money went. Adjust caps before the month is over, not after.
First, decide which IDR plan minimizes monthly payment during residency — SAVE, PAYE, or IBR — and lock that in. For a resident earning $60,000 single-filer, monthly federal payment under SAVE in 2024 was roughly $250-$400, dramatically lower than the standard 10-year plan's $2,500+. Use the lower payment to fund a starter emergency fund ($1,000-$3,000), capture any employer retirement match, and live on the rest. The 2024 AAMC resident financial wellness data showed about 41% of residents carry credit card balances month-to-month — usually because they tried to live on the higher-debt-payment number. Floor-budget against the IDR payment, not the standard payment. Cash Compass tracks the categories; the servicer tracks the loan. Revisit the IDR election each year when your AGI updates.
The most common attending-year mistake is committing to fixed costs (mortgage, car payment, private school) against the first year's pay before taxes and student-loan reality hit. The 2024 Medscape Physician Compensation Report put average primary-care attending income at $277,000 and specialists at $394,000 — but federal plus state plus payroll tax usually claims 32-40% of that. On $300,000 gross, take-home is closer to $185,000-$200,000 depending on state. Phase one (first 6 months): keep resident-level spending, dump the surplus into loan principal or backdoor Roth IRA contributions. Phase two (after 12 months and tax filing): build the lifestyle around 70-75% of net, not 100%. Cash Compass tracks the category totals against the actual take-home so the lifestyle creep stays measurable.
Yes. Tag each moonlighting shift or locum payout as separate income with a source tag (Locum: ABC Hospital, Moonlight: ER). Cash Compass tracks both the income and the related deductible expenses — CME, license renewals across multiple states, malpractice tail coverage, scrubs, professional dues. The CSV export at year-end separates 1099 income for Schedule C from W-2 hospital wages. The 2024 AMGA physician compensation survey showed about 28% of attendings earn some 1099 income on top of W-2 employment, with median additional $34,000/year. That side income usually requires quarterly estimated taxes — set aside 30-35% of each 1099 deposit before budgeting it.
Cash Compass tracks cashflow and categories; it does not replace a financial planner, tax strategist, or estate attorney. For most physicians, especially attendings with student-loan complexity, real-estate holdings, or backdoor Roth strategies, a fee-only CFP who specializes in medical professionals is worth the $2,000-$5,000 annual fee. The 2024 AMA physician financial-wellness survey showed physicians who worked with a financial planner reported significantly higher retirement preparedness scores than those who did not. Cash Compass complements the planner — it shows day-to-day execution, gives the planner accurate spending data for projections, and keeps the household budget honest between annual reviews.
Built native for iPhone, iPad, and Mac with iCloud sync. Works offline.
No bank logins, no Plaid, no data sales. All data lives in your iCloud.
Manual entry, charts, category tracking — all free, forever. Premium is optional.
Free to start. Premium $29.99/year unlocks unlimited voice between rounds and CSV export for moonlighting tax prep.
Download Cash Compass on the App Store