Dr. Dewan Farhana is not only a physician, but also an entrepreneur! ما شاء الله with a passion for finance; Dr. Dewan Farhana created Doctor Finances which is all about how you can manage your income and savings. She takes what she learned from her personal experiences and adds a touch of detailed knowledge of financing to pursue her entrepreneurial endeavor that can benefit anyone and everyone. Let’s learn more:
R. Tell us about Doctor Finances
DF. Doctor Finances is my passion project – it’s a personal finance brand, blog and design content that I write and create to help people understand the important financial topics to help them grow their wealth and reach financial freedom. My background is far from finances, but along my journey of being a physician and entrepreneur, I learned how important personal finance is because it gives us the freedom to live life on our terms. Financial freedom gives us the opportunity to choose what we want to spend our limited time on, rather than being tied down to a job or relationships that we don’t love. After I began understanding key financial concepts on investing, compounding interest and growing wealth, I began to help family and friends with their finances as well. Eventually, I decided to start writing and creating content about it, and I have been loving the process since I really enjoy explaining these concepts. I spend a lot of time creating my content on Instagram, often doing 4-5 drafts to make sure I’m doing the best I can to show or explain a topic in a unique and thought-provoking way.
R. What do you find is the most challenging thing about managing one’s own economy?
The most challenging part is definitely budgeting: understanding how much money is coming in and going out, automating the process and having a plan for the money such as making sure to “pay yourself first.” I’m a big advocate of making sure all of the important expenses are taken care of, including putting money into all available tax-advantaged retirement accounts and paying off all high-interest debt (anything more than 5% interest) as soon as possible.
R. ما شاء الله, that’s wonderful! How were you inspired to create a course?
DF. I’m creating a comprehensive financial independence and wealth course mainly out of necessity since it’s hard to convey the full financial topic on just one instagram post or blog post. IG posts are a great way to use creative designs to help someone see an idea in a different way and make something “click,” but a course is more useful to those that are ready for detailed information on each topic.
R. ما شاء الله, I completely understand, having my own writing IG and Blog; a blog is more detailed. You are a physician, a mother, an entrepreneur and a personal finance & money expert! How do you juggle these roles? What’s your secret?
DF. No secrets honestly. It’s a lot of late nights, automating, and outsourcing. I have limited work hours during the day, and then I work at night after my kids have gone to bed. We also try to automate things as much as possible, such as making our home a smart home with Alexa, pre-order and have delivery with Instacart, and we use various apps and electronics that make our days more efficient. We also outsource whenever it’s feasible, so having a gardener do backyard mowing, have someone help us with biweekly cleaning on weeks that we can’t, babysitters or grandparents to help us watch children; and at work, having virtual assistants and people who are good at what they do, have them help so that we can meet deadlines in a timely manner. So no secrets, just lots of hard work, time management and being goal-oriented. As with all parents, some days are good, and other days are brutal, and it’s really just about getting back up the next day and trying again.
R. What real life successful individuals inspire you and why?
DF. I get inspired by people on a daily basis, anyone from a day labourer in Bangladesh, working hard to someone in Hollywood advocating for representation of BIPOC people in films, they all inspire me. One person’s quotes I always refer to is Ruth Bader Ginsburg, since she overcame so many obstacles to move not only her own career forward, but that of all of womenkind. She has said some great things like you have to “turn a deaf ear” to people sometimes to accomplish your goal, or that life will be hard but you have to find a way to achieve your goals, and how important it is to find a partner who thinks your work is as important as theirs.
R. Who or what in YOUR life keeps you motivated?
DF. I’m very much entrepreneurial. My parents came to the US seeking better opportunities, and I feel that was instilled in me from a young age. Even when I moved from the East Coast (NY) to the West Coast (CA) to work in Silicon Valley, that was my guiding thought on welcoming new things – that in places of discomfort and new surroundings is where the best opportunities lie. I’m always inspired by people doing things outside the box because I feel that’s where major change happens, and so I always try to push my own limits to see how much I can accomplish in the one life we have.
R. So inspiring, ما شاء الله. Tell us how we can join to learn more about your courses/services? Also, how can we follow your journey?
DF. I’m active on Instagram (@doctor_finances) and you can also visit my website at doctorfinances.com to read posts on financial topics and pre-register for the course that explains all of personal finance in easy-to-understand methods to help you reach financial freedom.