You don’t know how much love your heart can hold until a child makes space for itself. You need to factor a lot of costs when becoming parents. As soon as you get married, you have started planning in advance for this moment. You may have accounted for details like school fees, loss of income due to sabbatical and long-term goals such as children education and marriage. 

Amidst all this, one does not think the need to factor in costs for infertility related issues. In current stressful times, many parents are going through alternative routes such as IVF to cruise the journey of parenting. IVF is an expensive process that is emotionally, mentally and financially draining with no guarantee of success. Even after repeated attempts, chances are you may still need to undergo, doctor prescribed sessions. 

From basic health check-ups to specialised tests. You will need to factor in multiple costs. IUI’s cost in India can range anywhere between 20,000/- to 30,000/- and IVF sessions are charged at Rs 2,00,000/- to 3,00,000/- per IVF. This will change on the basis of your location and IVF clinic prices. These prices are an estimate and exclusive of any additional treatments recommended for you and medical costs. For working women, you may have to take work leave or a sabbatical to undergo necessary treatments causing you loss of income.

In difficult situations like these, how do you plan, handle or manage your finances, without breaking a bank or emptying your savings. How do you ensure your financial well-being?

1. Analyze your current financial situation

You don’t account for infertility related issues unless you are facing one. Not all medical insurances provide coverage for infertility related costs extensively. That leaves you to go through this financial strain on your own accord. At times like these, relying on an expert is the best choice. You may want to save on this cost. In the long run, having someone with the knowledge and a non-biased, emotionally non-invested view will serve as the advice, you really needed to hear and know. More over they can help you address details that you may tend to overlook. It is necessary that you hire and work with a certified and trusted financial planner.

2. Map the costs associated with infertility related issues 

Work with your advisor to assess all cost possibilities with IVF. In case of successful outcomes and unsuccessful one’s, what should be your way ahead. You want to focus on the positives; your health and finances should be least of your worries. Having someone to rely on can be advantageous when it comes to staying focused on your financial plans.

 3. Shuffle your expense plan 

You may need to shuffle your expenses. Reassess your priorities. Situation may demand giving up on one goal for the time being to fulfill the one you currently covet. You will need to re-look at your expenses and savings instruments to see where and how you can best match payment towards your IVF. It’s a tedious task but once you’ve walked your way through, you can be assured that you have your finances in control and financial well being is least of your worry.