<prompt> Human: I am really realizing lately that I am basically horrible with money. I joined this subreddit and have been lurking, trying to glean some info. I realize I should get MINT, or something like that, to help manage my finances and do a budget. But I really had some questions that I hadnt seen get covered earlier on anywhere. So here goes:I am a resident physician in the USA. In 2.75 years, I will graduate from residency and become an attending physician. So Ill be getting a HUGE raise at that point. Starting MDs in my field generally make about 120K - 160K per year. So I keep having to keep that in mind too.As for my specific finances:--Coming in:--My gross monthly paycheck: 3400 per month right now taxes come out before that, my gross income is 49,900 I believe. In a year, mid-2013 I will get approximately a 5,000yr raise, followed by another 5,000yr raise the following year mid-2014, and then I most likely will probably make about 120,000 per year starting in August 2015.I have a savings account which has 4000 in it, that I have been saving for emergencies. Otherwise, I have no savings, and no 401K or retirement plan at this point. My employer offers a 403b which has 17,000 max per year contribution and they match 6. I havent contributed to it at all, because the first year I worked here, they didnt match. Should I contribute to it now? or better to put that money toward loans and credit card debt? --Going out:--Federal and Private Sallie Mae loans: 23,820.75 6.8 interest, minimum payment 134.00 per month, graduated repayment plan.Department of Education Federal Loans: 22,959.58 6.55 interest, minimum payment 188.00 per month, graduated repayment plan now.Credit cards: 2 Visa cards, both with 16 interest, total amount owed: 12,000. Minimum payments approximately 400 per month. I get 2 rewards on these, so I use them to pay for basically everything I buy gas, food, clothes, trips, etc..Medical billsexpenses: 475month. Should I set up a Health savings account for this?Rent and utilities bills: 1100 per month.I own my car outright, and I do not own any property.I would really love it if someone could help me figure out what priorities I should have, what program I could use to help manage my funds and budget? I know I should pay off the credit card ASAP because of the highest interest rate. Any help would be GREATLY appreciated. I feel like Im in way over my head. I dont have any kids right now, but we plan to have them in the next 5 years, so part of the problem is that...The big question is this: well, I know that shortly by 2015 Im going to have this righteous huge increase in my income, but no timeenergy to SPEND that money because Ill probably have a kid. So I keep wanting to do these fun things, like go on vacations with my husband, or go to concerts, and travel, and all that, while I have the time and energy -- but I have to put these fun things on Credit because I dont really make enough to do all of them right now. -- What Im asking is, is it okay that I am doing this, or is it really horrible? How much money would I end up losing, if I put a 5000 vacationtravel plans on credit now, and dont pay it all the way off until 2015 when I get the big raise?I hope this wasnt too confusingmuddled. Thank you for any assistance. I feel like medical school did NOT prepare me to be a business-person!  <response>: and then I most likely will probably make about 120,000 per year starting in August 2015.Aside from talking about investing in education that will yield a high salary, talking about what your income will be three years from now should have no bearing on your budget currently. Ill be able to afford my current lifestyle in the future is a terrible budgeting fallacy. Learn to live within your means now, and itll be a piece of cake in the future. Live beyond your means now, and lifestyle creep will ensure that the hole youre in only gets bigger and bigger. Without budgeting discipline, mo moneymo problems. You dont want to be back here 10 years from now saying rpf, I make 300,000 a year and have nothing to show for it. Should I file bankruptcy? exaggerate for effect... maybe I have a savings account which has 4000 in it, that I have been saving for emergencies. Otherwise, I have no savings, and no 401K or retirement plan at this point. My employer offers a 403b which has 17,000 max per year contribution and they match 6. I havent contributed to it at all, because the first year I worked here, they didnt match. Should I contribute to it now? or better to put that money toward loans and credit card debt?There are different philosophies on which to pay down first. A 403b match is free money, so I think its crazy not to take it. On the other hand, that CC balance is going to suffocate you. Id really try to tackle both. This is a favorite topic in rpf so take a look through some of the previous threads and see what advice applies to you. Credit cards: 2 Visa cards, both with 16 interest, total amount owed: 12,000. Minimum payments approximately 400 per month. I get 2 rewards on these, so I use them to pay for basically everything I buy gas, food, clothes, trips, etc..You realize youre paying 16 interest for the pleasure of getting 2, yes? Medical billsexpenses: 475month. Should I set up a Health savings account for this? Yes, an FSA or HSA is a good way to reduce the net cost of medical expenses you need to pay anyway. Which one makes more sense depends on the total costs and whats covered. Youll need to run the numbers. I know that shortly by 2015 Im going to have this righteous huge increase in my income, but no timeenergy to SPEND that money because Ill probably have a kid. Oh, I dont think thats how that works. Youll spend the money on the kid. Those things are crazy expensive : Plus, it sounds like youre in some sort of race to spend money. You shouldnt think of money as something that has to be spent within the next 5 years especially if you dont actually have said money. So I keep wanting to do these fun things, like go on vacations with my husband, or go to concerts, and travel, and all that, while I have the time and energy -- but I have to put these fun things on Credit because I dont really make enough to do all of them right now. No, you dont have to put fun things on the card. Dont spend money you dont have. Seriously. I dont mean to harsh on your optimism, but it kind of seems like you need a reality check. You make it sound like 120kyr is so much money that itll be difficult to spend it all. Its not. Your debt could be manageable right now, but it wont be in a few years if dont start being more disciplined. Sorry if that sounds mean, but I dont know how else to say this so you get just how destructive that attitude is.Its never just one fun thing. Youll tell yourself its okay to do this one thing, then another, and all those things add up at the low, low cost of 16 and soon youll be spending all your extra money on payments instead of your childs education, vacations that include your child!, a house that you own outright, your retirement! Youre going to be a high-income earner, but youll never be rich if you dont get your spending habits and attitude about money into a good place.tl;dr Practice good habits now. Your debt wont magically go away in 3 years when you make more money. 