Investigating Canadian Radiology Residents' Personal Financial Literacy: A Nation-Wide Assessment

Area of Science:

• Medical Education
• Financial Wellness
• Resident Physician Training

Background:

• Canadian resident physicians accrue substantial educational debt.
• This debt burden negatively affects resident wellness and future career decisions.

Purpose of the Study:

• To evaluate the financial literacy of Canadian radiology residents.
• To assess residents' current financial status and knowledge through a dedicated survey.

Main Methods:

• An observational study utilizing a survey distributed via Google Forms to Canadian radiology residents.
• Descriptive analyses were performed on collected data, including associations between training level and financial knowledge scores.

Main Results:

• 104 valid responses were received from 16 universities.
• A majority of residents (53%) reported debt exceeding $150,000.
• Residents averaged 71% on a financial knowledge quiz, with no significant association with training level (P = .71).

Conclusions:

• Canadian radiology residents face a considerable debt load.
• There is a high demand (89%) for formal financial literacy curricula within residency programs.
• Residents prefer physician-led financial education programs.