Should You Finance Your Child's Braces?
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My oldest child will be getting braces in a few days. When the lady at the orthodontist handed me a sheet of paper with the price on it along with all the zero-interest financing options, I was shocked. I mean, do you know how much braces cost?
We were in the process of paying off our debt until the living room catastrophe, now we’re back at step one, saving up that $1000 emergency fund. There’s no way we have an extra $6000 lying around.
As much as I hate debt, I began to wonder, “Are braces debt? And should we wait to get our daughter braces until we can pay 100% upfront?” According to Dave Ramsey, no, braces are not debt. It’s more like renting.
This is what he said on his radio show, which you can listen to or read here.
“Our kids got braces at a point that we were just so anti-debt that I just paid for it in advance. I have run into some things since I did that. I knew a person who did that, and the dentist passed away. Now they've prepaid for work that'll never be done…
“Yeah, this is more like renting, and I wouldn't suggest you prepay your landlord if you were a renter for two years. This is not debt…”
I gotta say I agree with him, even if it’s only because it makes me feel better :)
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Our second born also had an orthodontist checkup, and guess what! She’ll be getting braces put on around the same time our oldest is getting hers taken off. Pray for us y’all. We’ll be renting those braces for the next four years. The good thing is it’s all interest-free. Now let’s hope our youngest two don’t need them!
Do your kids have braces? Did you finance them or prepay? I’d love to hear from you in the comments! And don’t forget to join me over on Facebook and Instagram!
I’m Kari, founder of Mom For More. Do you often lie awake at night dreaming about what it would be like if your family was debt-free? What if you could make that dream come true with a business that allowed you to stay home and be fully present with your babies? Mom for More teaches moms that they can start a home business, become debt-free, and gain more overall peace in motherhood. It equips moms with the tools they need to succeed in their finances, home businesses, and daily lives. You don't have to put your life on hold when you become a mother. It's okay to dream. It's okay to believe that you were made for more. I’d love for you to subscribe and follow along with me!