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You've heard us talk about income protection so far, and we all protect our pets and cars, but what else might we want to put in place? Other policies exist, including: life insurance, health care cash plans, private health care, critical illness cover. The ones you need depend on your individual circumstances, drop us an email hello@vetyou.co.uk or book in directly with financial adviser Ruth, here - she also offers a free protection health check to assess your existing policies too.

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With Home Protector, they’ll pay your mortgage or rent paid, for up to a year if you do get too unwell to work in your job. Plus, a bit more on top if you need it.

With no health or financial questions to answer, it’s quick and easy to buy too.

When you buy your insurance, you’ll also get free access to a fantastic 24/7 GP service, for you, your partner and any of your children who are under 18 (all living at your address).You, personally, will also get free access to a second opinion medical service.

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Home Protector pays your mortgage or rent if you can't work because of an illness or accident, with the option for a bit extra if you need it. There are no health questions and you can be covered in minutes!

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Money Matters for New Grads & Students 2023

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Money Matters for New Grads & Students 2023

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Money Matters for Vet Students & Recent Graduates

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If you're in the fortunate position to have extra funds and resources, watch the following around how to make your money work for you. Investments can always go up and down, but seeking advice from a professional can be invaluable.

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VetYou Friday Finance: Investments with Ruth Downs

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What if we were suddenly injured and couldn't work? All vets know someone that was kicked by a horse, bitten by a cat or even broke their ankle in the park. Many contracts will not cover more than the minimum government sick pay (less than £100/week). Income protection is a policy that protects and covers your income if you suddenly are sick or injured. Watch our resources below to find out more.

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VetYou Friday Finance: Income Protection

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As someone who works with animals, you’ll see every day that sadly they can have unexpected accidents or become ill.

It’s much the same for us humans. Ill health or an accident can happen to any of us, at any time. Out of the blue. Of course, we’ve got the added responsibility of bills to pay too.

Future Proof Ltd, leading protection specialists, are delighted to work with VetYou to introduce you to the Home Protector Product from Holloway Friendly.

With Home Protector, they’ll pay your mortgage or rent paid, for up to a year if you do get too unwell to work in your job.

Plus, a bit more on top if you need it.

With no health or financial questions to answer, it’s quick and easy to buy too. Watch our short video below to find out more!

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Home Protector pays your mortgage or rent if you can't work because of an illness or accident, with the option for a bit extra if you need it. There are no health questions and you can be covered in minutes!

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When we ask our community, the number one thing they wish they knew when they graduated was to start their pension early. Watch the following resources and learn more!

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Join Katie Ford and financial adviser Ruth Downs for 20mins on pensions, don't forget, Ruth is always happy to answer your questions or set up a call.

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Friday Finance: Pensions for Veterinary Professionals

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Note: The pension company, Raindrop, doesn't function in this way anymore - but the chat and the sentiment are still very much there. If we can help you with a plug and play pension provider, drop us an email hello@vetyou.co.uk

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. Today, we're mostly talking about getting old. Yes, it'll happen to all of us whether we like it or not, and if you're like me and have no clue about pensions then hopefully this chat might be somewhat enlightening.

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The veterinary community is an amazing place, and there are lots of people that are here to support you. Listen to some members of the VetYou community sharing their stories and experiences, and always remember, we're just an email away hello@vetyou.co.uk.

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Financial Planning with Alison Lambert & Gudrun Ravetz

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Financial Planning with Alison Lambert & Gudrun Ravetz

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Another community story, check in and we can help you connect with a financial professional hello@vetyou.co.uk

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. Today's episode is an absolute corker - I know, I know, I have a tendency to say that fairly often but the wisdom and practical advice meted out in this podcast is really worthwhile and I can't wait for you to hear it.

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All the resources in this padlet will help you get ahead of the game, starting with working out a budget/spending plan. We've brought together a few student based top tips and resources below.
Don't forget that often your universities will have resources, help sessions and support too. Find out more by searching "your university name + student financial support".

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Save money quickly and easily with our top money-saving tips. The best ways to save money, from free stuff to bills, food and shopping.

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Questions around chronic illness and protection policies

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Questions around chronic illness and protection policies

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Check out the below resources, many of which were a collaboration with British Veterinary Chronic Illness Support.

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Savings & Investments Webinar with Ruth Downs

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Savings & Investments Webinar with Ruth Downs

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VetYou Savings & Investments with Ruth Downs

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There's LOADS more, so keep an eye on this column as we add further resources. We also have lots of resources around locum work and accounting, so just drop us an email hello@vetyou.co.uk and we'll be happy to help.

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We teamed up with the British Veterinary Chronic Illness Support CIC to help create a series of three webinars for those with chronic illness. We tackle myths around income protection and pre-existing conditions too!

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Finances for Spoonies - Money Matters with Chronic Illness in Mind

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Katie from VetYou and Borborygmi host Naomi Mellor (both vets) share their stories around private healthcare - and varicose veins.

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. One thing I've really noticed since doing these podcasts is how amazing it is that when you start being honest and open about things that you find other people have been through the same things as you.

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Exciting! Below are some resources around setting up your finances ready to start thinking about purchasing, and a session with a mortgage adviser to explain the process of buying.

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Wondering if you need to declare your income? Need some help? We've got you covered again. If you're still unsure drop us an email hello@vetyou.co.uk and we'd be happy to connect you with an accountant and help where we can.

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Join Katie Ford from VetYou and Ruth Downs, financial adviser, as they chat about preparing for a new job financially.

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We teamed up with Borborygmi to run a VetYou season, and in this episode Emma Davis and Louise Littler talk about overcoming debt.

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. Today is the last episode in this season, but don't worry, we'll be back in January with a brand new collection of podcasts that we cannot wait to bring you!

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Everyone has a different financial education, money story and relationship with money. Let's take the judgement off ourselves and know we can all learn more and change our actions around finances.

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In our VetYou podcast series with Borborygmi, check out this episode with coaches, Libby and Jenny

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39. Jenny Guyat and Libby Kemkaren-Thompson - Part Two

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. Today we've got the second part of my chat with Libby Kemkaren-Thompson and Jenny Guyat, both career coaches with a huge interest in money mindset that really comes across in their conversation.

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Negotiation, Payslips, Packages - Arghhh!

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Negotiation, Payslips, Packages - Arghhh!

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Don't worry - we've got you. Also head to the Your First 100 Days section in new grad finances to hear even more. Got more questions? Email us hello@vetyou.co.uk

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VetYOU TV! a vetled organisation helping to put you at the centre of your financial security

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Re-watch our first 100 days sessions, including information on salaries, packages, contracts, budgets, pensions, protections and more. We dive deeper into each of these topics throughout this resource. Don't forget, you can always email us if you're not sure where to start: hello@vetyou.co.uk

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Below are resources to help you get started with budgeting and how to find a way for it to work for you - we believe this is a staple to solid financial decisions.

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VetYou are a community to open conversations around finances, empower an independent financial you, and connect you with financial experts. Email us hello@vetyou.co.uk - there's no such thing as a stupid question. Below you'll find links to book with financial advisers directly, alternatively scroll all the way to the right to view all of the resources we have for you. Check out www.vetyou.co.uk
Our Founders are all vets:
Matt Dobbs - Farm Vet, Entrepreneur
Ebony Escalona - Equine Vet, Community Creator
Paul Horwood - Farm Vet, Business Owner
Katie Ford - Small Animal Vet, Influencer

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Depending on circumstances, many universities have access to extra funding and support. You may find this via your university's main campus financial support or by checking on the government website.

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The Access to Learning Fund has been replaced. Contact your university or college to find out if you're eligible for extra money.

You could get extra money from your university or college if you're experiencing financial hardship. You may be, for example:

a student with children, especially single parents

a mature student with existing financial commitments

from a low-income family

disabled

a student that was previously in care (a 'care leaver')

homeless or living in a foyer

What you'll get

The amount you can get is decided by your university or college. It's paid in a lump sum or instalments.

You usually won't have to pay the money back, but in some cases you'll get a loan that you have to repay.

How to apply

Contact the student services department at your university or college - they'll decide if you qualify.

You'll need:

Money from your university or college won't usually be counted as income when working out your entitlement to benefits or tax credits, unless it's for day-to-day living costs.

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Skip to main content We use some essential cookies to make this website work. We'd like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. We also use cookies set by other sites to help us deliver content from their services.

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With Paul Horwood from the VetYou team

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A helpful visual to understand what all the deductions and codes mean

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Each year, SPVS performs a salary survey to benchmark current salaries within the veterinary profession. Take part to access the results and, or join up to see the average salaries for different areas, years of experience and more. Students can join for free, and new graduates from as little as £24

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SPVS is all about supporting vets to develop their practices and our Surveys are an integral part of that.

SPVS is gathering information from anyone working in the veterinary profession, whether in clinical or non-clinical roles so please encourage your colleagues to complete the survey, as the more responses we get the more significant the data!
Salary Survey - MEMBERS ONLY

The Salary Survey is designed to provide a picture of remuneration levels and is the only one of its kind providing an invaluable benchmark to all those working in the veterinary sector. It covers everything from basic earnings, bonuses, dividends and overtime, to benefits such as accommodation, car allowances and pensions.
Fees Survey - MEMBERS ONLY
The Fees Survey is only resource of its kind that enables veterinary practices to review their pricing structure and benchmark it against other practices around the country. The fee survey has become the 'go to' resource for benchmarking pricing in the veterinary profession. The variation in individual fees can be marked and the survey allows practices to see their fees are calculated in a realistic way to reflect their individual costs and overheads as well as local market conditions.
Profitability Survey
You may already know the importance of tracking important business key performance indicators (KPIs), but are you actively benchmarking to get the best outcomes possible for your practice? The profitability survey will be used to provide you with anonymised benchmarking information to compare your practice profitability and help you identify areas that need to be addressed to improve profitability - vital in today's economic climate.

Recruitment Survey 2017: The results of our latest survey are available to both members and non-members.

The Salary and Fees Surveys are free to SPVS members and available to non-members at a cost of £192.
If you are not already a member, join today. If you are, then help us grow our membership, and with it our influence, by spreading the word and taking part in our surveys.

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SPVS is all about supporting vets to develop their practices and our Surveys are an integral part of that. SPVS is gathering information from anyone working in the veterinary profession, whether in clinical or non-clinical roles so please encourage your colleagues to complete the survey, as the more responses we get the more significant the data!

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Check out the Money Saving Expert's list of Student Discounts & Deals

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Check out the Money Saving Expert's list of Student Discounts & Deals

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Best free student discount codes & deals for 2020. University students can save money at a wide range of major retailers using MSE verified codes.

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Find food and items that your neighbours no longer want or need to save them from going to waste.

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Let's not waste our wonderful world. Connect with your neighbours to give away food & other household items, plus lend & borrow, for free.

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Nab restaurant and café food last minute at bargain prices.

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The app that lets customers rescue unsold food from shops and restaurants to save it from going to waste. Try it today.

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You can save £1,000s a year on supermarket and grocery shopping using these 30 techniques from Money Saving Expert, including how to compare costs online.

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Feel like you're (literally) eating up your student loan? Bet you won't have thought of these tips for saving money on food...
One of the biggest shocks when you start shopping for your own food at uni is just how expensive it can be - especially cheese, right?

According to our yearly National Student Money Survey, students spend on average £92 a month on groceries alone - that's more cash than they spend on anything else apart from rent!

When it comes to food shopping, students tend to fall into the same pitfalls over and over again. How many times have you bought a one-off meal from the Tesco Express round the corner instead of stocking up at a big budget supermarket?

It's time to break those old habits and have a look at this shiny array of top tips and hidden gems to save yourself some cash.

56 ways to cut your food costs

At the supermarket

1. Find out if you have a 'pay as you feel' supermarket or similar initiative near where you live

2. Write a shopping list before going to the supermarket - and try not to deviate from it!

3. Use budget supermarkets like Aldi and Lidl

4. Use coupons - keep your eyes peeled for coupons that can be cut out from newspapers and magazines and used for money off in food shops, and check couponing sites for codes that can be used online

5. Think seasonally when you shop - when certain foods are in season, they'll be cheaper. If you end up with way too much of one type of food as a result - freeze it until you need it!

6. Buy meat in bigger cuts and make it last - for example, buy a whole chicken and use the breasts and thighs for a few dinners, use the extras for your lunch sandwiches, then boil up what's left and use as stock for soups

7. Check out the 'world' or 'ethnic' sections of the supermarket - sometimes the prices of basics like rice can be cheaper

8. Shop at wholesalers like Costco with your housemates and share the cost

9. Never pay for plastic bags! Not only is it a waste of 5p, but they're bad for the environment too

10. Buy tinned food when you can as this lasts... well, forever really.

In the kitchen

1. Learn to cook - learning some decent budget recipes will save you shed loads if you can ditch overpriced supermarket meals-for-one. This cooking guide will get you started

2. Plan your meals for the week, shop accordingly and use the freezer when necessary

3. Grow your own food at home - no garden necessary

4. Have frugal days to counteract days when you eat out or spend money going out drinking

5. Do a stock take before going to the supermarket - and let this dictate your shop/meals for the week

6. Become a reducetarian! Reduce your intake of meat to save on cash and be kinder to the planet

7. Crank up your frugal student food game by making one of these fancy dinner recipes with baked beans

8. Invest in decent tupperware so you can take lunches into uni - and never buy lunch on campus

9. Chip in for basics and bulk buys with your housemates

10. Host 'bring a plate' parties and live off the leftovers for the rest of the week

11. Buy dried beans instead of tinned - all you have to do is soak them overnight and they're the same thing!

12. Regrow food from roots and scraps - celery, avocado and roman lettuce are just a few that will regrow if you look after them right

13. Love beer? Brew your own at home for 18p a pint.

Eating out

1. Get a part-time job in a cafe or restaurant that feeds staff meals during breaks (and lets you take leftovers home)

2. Look for deals! Simple but effective - sign up to our weekly deals roundup newsletter or follow our Facebook page for daily deals

3. Become a mystery diner and you'll get your meals out in restaurants free of charge

4. Don't be embarrassed to ask for a doggy bag! That's tomorrow night's dinner right there

5. Follow all your favourite food brands, cafes and restaurants on social media so you're first to hear about freebies and competitions

6. Avoid paying full price for premium takeaway food with these tips

Before you go, make sure to check out episode two of our podcast, No More Beans - we discuss even more ways to save money on food, including how to eat out for free!
And what about ways to save money on accommodation? We've got some sure-fire ways to save money on rent, and even an interesting alternative to student halls you could try!

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Feel like you're (literally) eating up your student loan? Bet you won't have thought of these tips for saving money on food... One of the biggest shocks when you start shopping for your own food at uni is just how expensive it can be - especially cheese, right?

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Your Financial Freedom: Step One, Budgeting

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Listen to this session on whether you may need to consider Critical Illness Cover.

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VetYou were joined by mortgage adviser Serena to talk about the process of buying a house. Check out this power hour.

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Setting Yourself Up for Property Purchase

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Setting Yourself Up for Property Purchase

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In this session, join Ruth Downs and VetYou founder, Katie Ford, to talk about setting yourself up for property purchase.

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VetYou Friday Finance: Setting Yourself Up for Property Purchase

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Why is it worth ppppicking up a personal pension?

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Why is it worth ppppicking up a personal pension?

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We were thrilled to be joined by Raindrop, a flexible, online pension solution, alongside Ruth the financial adviser for this session.  You can watch the full recording of the event below.

Note: The pension company, Raindrop, doesn't function in this way anymore - but the chat and the sentiment are still very much there. If we can help you with a plug and play pension provider, drop us an email hello@vetyou.co.uk

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In this session, we're joined by accountant Nichola Hawden to talk about what we can do with our side hustle income to stay on the right side of the taxperson!

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In this episode of Borborygmi, we’re talking about money. Hannah Fitzsimmonds is a final year vet student at Bristol University and until recently, was the AVS Welfare rep. Matt Dobbs qualified from the University of Edinburgh in 1999 and was a farm vet for many years, progressing to be the managing director of Westpoint Farm Vets. He is also a trustee of the Animal Welfare Foundation and a co-founder of VetYou, which aims to get vets thinking about their finances and financial future.

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Smashing The Ceiling: 70. Borborygmi - Hannah Fitzsimmonds and Matt Dobbs

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In this episode of Borborygmi, we're talking about money. is a final year vet student at Bristol University and until recently, was the Welfare rep. qualified from the University of Edinburgh in 1999 and was a farm vet for many years, progressing to be the managing director of Westpoint Farm Vets.

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All the details from the Government

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When you start repaying your student loan, your monthly repayments, what to do if you have 2 jobs or are self-employed, how to get a refund if you’ve overpaid.

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What I've learnt about money in 20 years as a farm vet

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What I've learnt about money in 20 years as a farm vet

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What I've learnt about money in 20 yrs as a vet

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3 solutions to help you if the worst happens

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3 solutions to help you if the worst happens

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3 solutions to help you if the worst happens...

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Wondering how much difference that pay rise would make? The April 2020 values have now been made available to show you the most up-to-date information. Use the Take-Home Salary Calculator to work out just how much more you will have each month.

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The Salary Calculator - Take-Home tax calculator

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The Salary Calculator tells you monthly take-home, or annual earnings, considering UK Tax, National Insurance and Student Loan. The latest budget information from April 2017 is used to show you exactly what you need to know. Hourly rates, weekly pay and bonuses are also catered for. Why not find your dream salary, too?

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Survive today to prosper tomorrow article. Full of practical advice of your fixed and discretionary costs

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These are the costs that are regular in your lives, essential costs. Many might go out via standing order or direct debit each month. Here are some thought about what you might be able to do with them

Yes, it might be hard to get everything you want just now, but we are assured this will change. But you could:

Use cheaper supermarket brands

Use the supermarkets own brand products

Try and do 1 bigger shop and avoid topping up at the convenience stores who are more expensive

Reduce high cost luxury items - could you have a glass of wine each as opposed to share a bottle? Could you give up alcohol for a couple of months?

The Government have made it clear that they have spoken to the Banks about people struggling to pay their mortgage. Even if you think things might be okay why not consider asking for a 3-month repayment holiday. Yes it will mean that you have to pay it back later - but if you are having short term cash flow problems it is worth considering if it really will be a problem making a few more payments in many years' time to be able to have a bit more cash flow right now.

Rent might be a bit harder to defer as the landlord may need the money. However, if you don't ask, you don't get. Try and offer something back - if you give me 3 months' rent free I will pay it back over the next 12 months! No landlord is going to be able to rent their property easily at the moment, so they are better off having you in this situation than no rent at all.

This can be a surprisingly high cost for many households. Why not consider:

If you have more than 1 car can you manage with just 1 for now?

Can you get a tax refund on the car that is taken out of operation?

Perhaps cancel insurance on a car, or reduce it to third party for now if it is not being used

Reduce the insurance cost by reviewing the annual mileage of the car

Shop around for cheaper petrol

But remember to put everything back in place if things change.

These are typically the costs that will be on monthly or regular standing orders or direct debits. Some ideas include:

Check if you are in credit with your supplier for water, gas or electric and if so ask for the money back

Negotiate a temporary reduction in direct debits for water, gas and electric. Usage should fall at this time of year. Offer to increase it again when your circumstances improve. Keep them updated with whatever you agree.

Speak to your council and negotiate payment terms for council tax. Perhaps pay nothing for 3 months and then the remainder of the next 9 months. Council tax is payable over 10 months from April to January - could you pay from June to March instead?

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Survive Today to Prosper Tomorrow - VetYou.

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These are the costs that are regular in your lives, essential costs. Many might go out via standing order or direct debit each month. Here are some thought about what you might be able to do with them Yes, it might be hard to get everything you want just now, but we are assured this will change.

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7 Things to know about investing for a pension

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7 Things to know about investing for a pension

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There are so many things we all want to save for - a holiday, a car, a mortgage, a wedding, a baby. We're not quite so keen on saving for our pensions though which means some of us are at risk of spending our retirement years in poverty.

But with a bit of planning and saving discipline, a healthy income in later life should be within reach. Here are seven things to ponder if you are starting out on your pension saving journey.

1. Your r etirement m ight last a very long time

The chart below shows how long a 65-year-old man and woman are expected to live and how life expectancy has been increasing. Life expectancy is even higher for young people. According to the ONS a 25-year-old female in the UK today has a life expectancy of 89 years, and a 1 in 4 chance of living to 97. In Japan half of all babies born now are expected to live beyond 100.

2. A state pension will not be enough

The New State Pension pays just over £175 a week compared to the current national average take home pay of £585. You won't be going on holidays or even eating out very often if that is the bulk of what you have to live on. To get the full state pension, which you won't be able to claim until your late 60s, you have to pay national insurance for 35 years.

Kee p on top of your state pension

You can check your state pension forecast via this link.

And if it's less than the maximum amount, find out how you can boost it here.

3. The power of compounding

The earlier you start saving for a pension, and putting in as much as you can afford, the more you can benefit from the power of compounding. If you are very lucky, your parents might have set one up for you as a child. The chart shows how the same pot of money with no further contributions is worth so much more the longer it stays invested.

4. Get your OWN pension

Don't assume that because you are in a relationship and your partner has a pension that you will be OK. Many relationships break up and there is no guarantee that a "shared" pension will survive that, particularly if you are cohabiting. In any case by not having your own pension you are missing out on free money from the government and possibly an employer. Even if you are not working you can claim tax relief of £720 on pension payments of £2880 a year.

5. Keep track of your savings

Planning ahead and being a proactive manager of your pension(s) makes all the difference to the income you will eventually receive. Most people end up with several pension pots as they move from employer to employer. Even though you will stop making payments into an employer's scheme when you leave, that pot should continue to grow. Make sure you tell each pension provider when you move home so that you continue to receive statements - you don't want to "lose" a pension along the way. It is possible to combine pots of money so that they are all in one place.

We have plenty of handy hints to help you manage and consolidate multiple pensions. Click here to read the full article.
6. Planning a head makes all the difference

It's important to have an idea of what pension money you are building up. Unless you are in a defined benefits pension (which means your pension is guaranteed), the amount you get back will depend on how much you have paid in and how well markets have performed during that time. Pension funds are mostly invested in the stock market. You will receive annual statements from your pension provider each year and this will predict what pension you are likely to receive and allow you to have a good overview of what all your pension pots are worth and whether you are saving enough.

Plan charges also have an impact on returns, and it is particularly important for self employed people setting up their own pension to pay attention to and compare charges.

How mu ch do I need?

As a rough guide, stock broker Brewin Dolphin reckons that if you put aside £660 a month for 35 years, you will eventually have a pot of £750,000 assuming growth of 5 per cent a year. This would be enough to pay you a pension income of £30,000 a year.

Before you object that you can't afford £660 a month, if you are a higher rate taxpayer, the net cost to you of that £660 is only £396 because the government will pay £264. But there is another issue we have to flag up. That £30,000 is in today's money and inflation will reduce its buying power over time.

You can check what sort of pension you are likely to receive on websites such as moneyadviceservice.org.uk.

7. Understand your options

If you are lucky enough to be a member of a defined benefits pension scheme, don't let anyone persuade you to transfer out of it unless you 100 per cent understand the reasons why you might want to do this. Only in exceptional cases does it make sense. You will be giving up a guaranteed income for life and you will be faced with the responsibility of investing the pot of money yourself and making sure it lasts the whole of your retirement. You will also be at high risk of falling prey to fraudsters, and you will have to pay a substantial amount in charges to arrange the transfer.

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7 things to know about investing for a pension

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There are so many things we all want to save for - a holiday, a car, a mortgage, a wedding, a baby. We're not quite so keen on saving for our pensions though which means some of us are at risk of spending our retirement years in poverty.

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How to protect yourself with very little savings

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How to protect yourself with very little savings

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How to protect yourself with very little savings

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The best thing I did with my first pay check

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The best thing I did with my first pay check

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In this episode of the Face Up To Finances podcast we are chatting to VetYou co founder Gudrun Ravetz about the best thing she did with her first paycheck 18 years ago….

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Show me the money! My first paycheck by Face Up To Finances

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Show me the money! My first paycheck by Face Up To Finances

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In this episode VetYou co founder Gudrun Ravetz shares the best thing she did with her first paycheck 18 years ago.

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Do you have the time to tackle your finances?

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Do you have the time to tackle your finances?

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The details of income protection and what to consider including a webinar to rewatch

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Watch back our online discussion where Andrew Snowball takes us through the differences and benefits of the following financial solutions in case of death or short term/long term illness:

Term Assurance/Family Income Benefit (FIB)

Income Protection -
Pays a tax-free income linked to % salary after a pre-selected deferred period

what % do you NEED covering?

when do you need this to kick in (deferment period)? To answer this think about how long your savings will last

Critical Illness- When severe illness strikes
Pays a one off tax-free lump sum
Life insurance- Should premature death occur
Payment of lump sum not linked to ability to work

Not linked to any employer benefits

Association of British Insurers (ABI) Core & Additional Illnesses covered (heart attack, cancer and stroke)

Often taken to cover a mortgage - but what about your family?

Benefits can rise each year by inflation or fixed percentage

Benefits payable until you are fit to return to work or selected retirement

Choose a policy that pays benefit on "Own Occupation" basis

Review the amount for which you are covered regularly.
make sure you review this if switch to less clinical work for instance as your premiums will likely fall- save you some cash!

What if you are off work due to accident or illness?

Term Assurance: lump sum over a specific number of years.

Whole of Life: lump sum cover that lasts the rest of your life (until you die).

Family Income Benefit: regular income paid to surviving family.

We spend a lot of our time sharing with owners the benefits of insurance for their pets should the worse happen, don't we?

We also insure our cars, phones and houses for the same thing and yet when it comes to our bodies and minds- our most valuable assets we aren't always so proactive at protecting our worth.

The common reason why we don't insure or protect ourselves is that we don't think we are worth anything. We MASSIVELY underestimate our worth! And most of us think nothing bad is ever going to happen to us!

So, take out a pen and paper- write down your yearly salary and then times this by the number of years you will work until retirement...

What is your figure?

For a veterinary professional on 30k working for 40 years that's 1.2 million pounds! And that is likely undervalued! We are of course worth more than the money we make.

So, if protecting that income cost you 20 quid a month or even if 100 quid a month I would say that was value.

Remember price is what you pay, value is what you get....

We took a lot of questions from the floor including

What are the usual sick pay times in veterinary practice. My experience was a couple of weeks?

Are mental health conditions (like OCD) counted as pre-existing disease?

Are you able to recommend any companies that understand what vets need from insurance?

Do umbrella companies need to pay sick? As technically employed by them

I assume these policies go up if you have preexisting conditions? Would one be better value over another form of insurance in these circumstances?

What percentage of your salary would you expect to pay on insurances?

How long do you have to have proof of a salary bracket as a freelancer to ensure that if you make an income protection claim you will be paid out the correct % of it?

Here at VetYou we can help you open up your conversation about your finances- there is no shame in where you are. We are here to help you get back in control of your financial future. We can hook you up with a financial advisor just like Andrew who gets us and we can share solutions that have been selected with the veterinary professional in mind.

It was great to heat the ONE action listeners in our online discussion stated they were going to take..

"take my wife's credit card off her" Ben
"I've already sent an enquiry to VetYou about income protection" Kate
"Review what I have and make sure it fits for what I do now" Gudrun
"Complete the financial health check support sheet!" Emma
"Do a financial assessment first. But I already know it's not going to be good." Ana
"Book an appointment with a financial advisor!" Jane
" Work out what's the length of time I can survive (savings +employer sick pay) before I need an income" Paul
"Do my financial health check support sheet! :)" Bethan
"review levels of insurance as currently probably over insured and wasting money" Adrian
" Follow up on initial fact finder enquiry with Lighthouse via VetYou and re-assess my income protection" Jessica

So click below for support in taking action on your financial future today.

Your future self may just one day thank you....

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When the worst really does happen- protecting your income - VetYou.

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Watch back our online discussion where Andrew Snowball takes us through the differences and benefits of the following financial solutions in case of death or short term/long term illness: Term Assurance/Family Income Benefit (FIB) Income Protection - Pays a tax-free income linked to % salary after a pre-selected deferred period what % do you NEED covering?

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A personal story of why income protection counts 

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A personal story of why income protection counts 

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This is so worth a listen.

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We and our partners use cookies to personalize your experience, to show you ads based on your interests, and for measurement and analytics purposes. By using our website and our services, you agree to our use of cookies as described in our Cookie Policy.

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Listen to this episode from Borborygmi: Noises From The Veterinary World on Spotify. Today I'm joined by Chris and Sarah McIntosh, a married pair of vets from Cornwall. As you'll hear, the story of their lives for the last 10 years has been shaped by the consequences of Chris's brain injury as a result of hydrocephalus.

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We created a fantastic 5 day event for you to get to grips with finances.
Day 1: Money Mindset:
https://youtu.be/3-FKiVt6jeg
Day 2: Financial Education and Wellbeing
https://youtu.be/Rvzxes9QrZo
Day 3: Assembling Your Financial Avengers:
https://youtu.be/R5XCBRSFEms
Day 4 and 5 are available in the downloadable workbook here:
https://bit.ly/vetyouworkbookprint
Editable version:
https://bit.ly/vetyouworkbookeditable

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Talk Money Week - Money Mindset with VetYou

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Remember that interviews are two way streets! Knowing your worth as well as what practices need can help you negotiate successfully

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Negotiation tips for new graduates - VetYou.

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Remember that interviews are two way streets! Knowing your worth as well as what practices need can help you negotiate successfully

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Does negotiation scare the hell out of you?

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Does negotiation scare the hell out of you?

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Join Paul Horwood and Alex Appelbe (Metis Labs) for a free, 20minute session packed with top tips on how to make the most out of negotiation.

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From Contracts to Packages to Pensions, we discussed everything YOU need to know to get ahead in finances during the first 100 days in your new job.

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Your First 100 Days In Your New Job March 2022

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This questionnaire is a really useful starting point in getting clear on your finances. Thank you to financial adviser, Ruth Downs for this document. If you click to enlarge and the select download file (top right toolbar) to open your own version.

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Ruth and Katie run through the financial questionnaire.

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A great resource to help you take stock of your income and outgoings

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Understand the difference between health care versus life insurance

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Book a call in with Ruth Downs, friendly financial adviser from Reflect Financial. We have worked closely with Ruth over the past few months and she has freed up slots in her diary to work with VetYou members to chat about income protection, pensions, investments, health insurance and more. The exploratory call is complimentary, and any fees from there are transparent and explained.

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Welcome to the scheduling page. You can book in a confidential, no obligation call with Ruth Downs, financial adviser.

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Contact us and get started with free financial support

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Contact us and get started with free financial support

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A community of supportive, like-minded professionals who can signpost you to get great advice and support you to enable everyone to make better more timely financial decisions that then allow YOU to get on with the rest of your life feeling a little more secure. A financial Wikipedia that is relevant to the veterinary professional at every stage of your career.

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A community of supportive, like-minded professionals who can signpost you to get great advice and support you to enable everyone to make better more timely financial decisions that then allow YOU to get on with the rest of your life feeling a little more secure.

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Why every vet needs an Independent Financial Advisor

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Why every vet needs an Independent Financial Advisor

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Why every vet needs an Independent Financial Advisor

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Want to Fix-Up Look Sharp as a New Grad in 2021?

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Want to Fix-Up Look Sharp as a New Grad in 2021?

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Remember to register at www.vetyou.co.uk and then we can keep you updated with future events. Last year we ran a session called "100days In Your First Job" to provide  our top financial tips for those entering the workforce and putting you at the centre of your financial future.

We will be repeating this in 2021, keep your eyes peeled!

For now, be sure to watch the recording of our check-in session with those students from the original wave.

We covered all kinds of ground from your questions that you sent in and asked live. So, listen back if these questions have been on your mind recently too!

What should a new grad salary be expected to look like? (Roughly)

Where's the best place to find out the average UK vet salary? Ideally with a breakdown depending on region of the UK

How much of a pay rise should I get after working for one year?

Very interested in contract negotiation and whether vet salaries are likely to change due to covid and Brexit

How does someone with no prior knowledge of reading job contracts know what is fair and what is a red flag?

Allowances vs housing. What’s a good rota and contract negotiations?

Should I sign up for pensions offered by employer? What is best to cover illness/long term leave if I need it in the future?

Is a 5% pension contribution enough or would you recommend increasing it?

As a new grad do we need income protection? Is it the kind of thing that’s better the longer you have it?

Is it possible to start a savings account right out of uni and if so what type would be best?

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New Grad Financial Review - Fix up look sharp for 2021