Now when the old academic year is over (and the new one just begun with the influx of freshly baked interns), the newly baked attendings, after being "institutionalized" for so many years, face financial challenges they never dealt with before: making on their own.
No more resident's salary. No more ignorance of the issues of one's health or malpractice insurance. Maybe moving to the new place. All of these issues can be tackled successfully based on their previous experience of moving from a college to a med. school and on to the residency, often in another part of the country.
What our residents are utterly unprepared for is what to do with their sudddenly (and seemingly) larger paycheck. The theme I hear over and over again is " What should i get now when my old Honda gave up the ghost: Lexus or Infiniti?" All these years of semi-voluntary and semi-imposed from outside financial self-restraint are catching up with our residents... er, attendings. And it is hard not to go on a spending spree with your first real paycheck in 11-12-13 years. And it's fine , I guess, to get some stuff you're really craving, as long as you keep the bigger goal in mind: financial freedom.