Planning for cosmetic surgery is just like planning for any other big purchase in your life: you need to prepare personally, emotionally and financially. Having surgery is a personal decision and as long as you’re confident with your choice and are emotionally prepared for the recovery, saving and budgeting for the costs may be the easiest part of the entire plan.
Having cosmetic surgery is a major financial commitment. It’s not as expensive as buying a house, but it can be the financial equivalent of buying a car. Depending on the procedure you choose to have, the costs of cosmetic surgery can be anywhere from a few hundred dollars for laser eye surgery to tens of thousands of dollars for breast implants.
If you’re thinking about having cosmetic surgery here are three ways to help you prepare:
Research the Costs
Before you decide to make the commitment to have cosmetic surgery think about the impacts of planning for cosmetic surgery. Research the total costs involved and think about the financial impact on your life both before and after the procedure. Ask yourself can I afford to save the money and will the procedure put me in debt or strain my finances afterwards?
If the answer is yes you may need to wait a little while longer and save up before booking your appointment. The last thing you want to do is put yourself in debt over an unnecessary medical procedure. Just because the cost doesn’t fit into your budget right now doesn’t mean it won’t later. With a little bit of planning and some more savings you’ll be able to afford the cosmetic surgery you want in the future.
Ask About Financing
This may sound crazy but a part of planning for cosmetic surgery may involve getting a loan. Several cosmetic surgery clinics offer financing options for qualified candidates. If you can’t afford to pay for the costs of the procedure you may be able to apply for partial or full financing.
Ask the clinic about financing options because very often they’re cheaper than bank loans or using your credit card. Some clinics offer deferred interest rates or even 0% interest on financing. You probably don’t want to fund the cost of an expensive cosmetic surgery on your high interest rate credit card. Remember – the lower the interest rate the faster you can pay off the debt.
Start Saving Way Before
Once you research the costs of your procedure you can set an appointment date and start saving. Setting up automatic payments from your checking to savings account can be a great way to give yourself a target date for your goal.
Your savings capacity will also help determine your surgery date because you can’t book an appointment before you save the money. Actually maybe the reverse is true. Maybe booking the date will help you stay motivated to continue saving on a regular basis. Either way you’ll want to start saving as early as possible to help prepare for the financial costs of having cosmetic surgery.
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Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.
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