9 Ways to Save Money for Fertility Treatment By Laurie Pawlik-Kienlen
These nine ways to save money for fertility treatments are from Ethan Ewing, a financial expert at Bills.com - because one thing worse than not being able to conceive a baby on your own is not having the money to pay for egg donation and fertility treatments!
First, a quip from a famous author:
“It’s spring fever. That is what the name of it is. And when you’ve got it, you want - oh, you don’t quite know what it is you do want, but it just fairly makes your heart ache, you want it so!” ~ Mark Twain
You may want a baby so much, your heart aches…but money is standing in the way. To learn more about boosting your fertility, click on The Fast Track to Fertility: A Modern Guide to Overcoming Infertility by Dr Sherif Awadalla, Dr Michael Scheiber, and Dr Howard Jones. And, read on for Ewing’s ways to save money for fertility treatments…
9 Ways to Save Money for Fertility Treatments
Live below your income
. “We’ve said it before, because it is the most important financial lesson, especially in difficult times,” Ewing said. Do not spend more than you earn. Those who are hooked on plastic can withdraw enough cash each week to cover necessities — even groceries and gasoline — and put the credit cards away. Ewing noted that a recent study by Visa found that people who pay for their food with a credit card spend 30 percent more on average than people who pay with cash.
Focus on needs, not wants. To save money for fertility treatments, understand your income and expenses, and account for these needs before spending money on your wants. “A new shirt for the weekend, new home décor and a flat-screen TV are not ‘needs,’” Ewing said. “Food, home payments, utilities and medical care are needs. To avoid confusing the two, put off purchases for at least 24 hours whenever possible to think about them carefully.”
Stay home. You may be able to save an average of nearly $2,000 per year by skipping the far-away vacation. Talk, play games, work on a project or watch a movie to relax instead of heading for the amusement park or the airport. To save money for fertility treatments, keep your long-term goal of getting pregnant in mind.
Eat at home, not at restaurants. With the conservative assumption that each restaurant meal costs $7, the cost for 4.2 meals per week would mount up to $127 per month, or more than $1,500 per person, per year. To save money for fertility treatments, learn to cook a variety of foods and use convenient tools such as a slow cooker to save time, money and calories.
Skip the alcohol. Not drinking doesn’t just help you save a lot of money for fertility treatments, it could also boost your chances of getting pregnant! (you’ll be healthier). Drink water, iced tea, coffee or juice. At home, choosing iced tea instead of a cocktail will save 50 cents to a dollar per day. In a restaurant, the savings could be $5 or more.
Choose regular coffee. Instead of lattes and other special coffees, drink house or drip coffee (unless you’re off caffeine to increase your chances of getting pregnant). “Your best bet is to make a cup of tea or coffee at home and take it with you,” says Ewing. “Second best is to forego the coffeehouse cachet for a respectable - and cheaper - cup of Joe from a fast-food establishment or doughnut shop.”
Do not shop to entertain yourself. To save money for fertility treatments, don’t go shopping for fun. It’s all too easy to start adding items to a cart because you’re bored! Instead, read a good book (get an old-fashioned library card) or learn a useful hobby.
Keep your old car. A car is transportation, not a fashion statement. If you’re tempted to buy or lease a new car, remember that you want to save money for fertility treatments. Better yet, carpool and/or own only one vehicle per family to trim transportation costs even more.
Use it up, wear it out, make it do or do without. Do not throw out a bottle of shampoo simply because you’re tired of the fragrance: use it up. Keep jeans past their fashion prime. If the shape of your turkey platter is not perfect for Thanksgiving, does it matter? And do you really need color-coordinated, fabric-lined baskets for your linen closet, or would old boxes work? To save money for fertility treatments, think twice before spending.
Based in San Mateo, Calif., Bills.com is a free one-stop portal where consumers can educate themselves about complex personal finance issues and comparison shop for products and services including credit cards, debt relief assistance, insurance, mortgages, and other loans.