In this episode, Dr. Courtney Downes interviews Dr. Bonnie Koo, a retired dermatologist and founder of Wealthy Mom MD. They discuss Bonnie's unique journey from medicine to financial education, the inception of her business, and her upcoming conference focused on money and wellness for women physicians. Bonnie shares insights on building a business, the importance of financial literacy, and practical travel tips for maximizing points and managing expenses responsibly. In this conversation, Dr. Bonnie Koo and Dr. Courtney discuss the importance of understanding cash flow and budgeting, especially during high-spending times like Black Friday. They emphasize the need for intentional spending and how to align financial habits with personal goals. 

The discussion also covers smart travel strategies, including maximizing travel rewards and achieving globalist status with hotel loyalty programs. Finally, they highlight the value of investing in oneself through retreats and conferences, fostering connections and personal growth.

Key Takeaways:

- Dr. Bonnie's journey into medicine was influenced by her early interest in science.

- She emphasizes the importance of not tying one's identity solely to academic success.

- Wealthy Mom MD started as a personal learning journey about finance.

- Dr. Bonnie's tech background helped her easily create a blog for sharing financial knowledge.

- She learned business skills through various courses and conferences after starting her blog.

- The upcoming conference focuses on money and wellness for women in healthcare.

- Dr. Bonnie highlights the importance of understanding women's health issues, especially around menopause.

- She encourages using credit cards wisely to earn points without incurring debt.

- Dr. Bonnie suggests using sales events like Black Friday to stock up on necessary items.

- She believes in the value of community and collaboration among women physicians. - Monitoring cash flow is crucial for financial health.

- Creating a budget for impulse spending can prevent regret.

- A spending plan should align with personal goals and values.

- Traveling smartly can enhance life experiences without breaking the bank.

- Using travel rewards can significantly reduce travel costs.

- Investing in conferences can lead to personal and professional growth.

- Building connections at retreats can alleviate feelings of isolation.

- Understanding hotel loyalty programs can maximize travel benefits.

- Intentional spending allows for enjoyment without guilt.

- Investing in oneself is a valuable and rewarding experience.

Timestamps:

00:50 Introduction to Wealthy Mom MD

06:05 The Birth of Wealthy Mom MD

11:57 Upcoming Conference: Money and Wellness for Women

19:35 Understanding Cash Flow and Budgeting for Black Friday

24:40 Intentional Spending and Financial Goals

30:01 Maximizing Travel Rewards and Globalist Status

35:05 Investing in Yourself: The Value of Retreats and Conferences

Find Dr. Bonnie Koo here:

Find Dr. Courtney Downes here: