Tips on Budgeting for Your Upcoming Dental Procedure

With the variability of dental insurance coverage, certain dental procedures may turn out to be a little difficult on the pocketbook. We all face unexpected expenses that become necessary, and dental health is certainly one that we cannot simply avoid or put off.  While everyone’s situation is different, there are a few recommended ways or guidelines you can use to help you correctly budget for that upcoming procedure.

1.       Lay the groundwork. You know that you absolutely have to have a dental procedure, but you know that affording it might be a little tough. We all have times in our life where we feel overwhelmed and adding one more item to our list of expenses seems too much. Instead of panicking, sit down, do some research, and come up with a strategy.  It is always a good idea to begin tracking and analyzing all of your expenses and sources of income. Luckily, technology has made this a relatively easy task for many. If you have the capabilities, create a spreadsheet in which you create categories for every expense and income source.  You should then access your banking statement and start entering in every expense under its appropriate category. If you have online banking, even better, as you can start updating your spreadsheet daily. Create tabs for several months and enter in all the expense data that you can. It might take you some time, but a little bit of work will go a long way in accessing and taking on your situation.

2.       Assess your situation. Many times, people will find a couple categories that will quite surprising to them in terms of how much they spend. Dining out is a common one in which people can save a great deal of money by simply cutting down how many times they go out to eat. Certain fixed expenses, such as house payments, utility bills, and car payments can’t be easily changed, but it’s those other areas, called flexible expenses, that can be more easily cut. Figuring out how much money you have available after fixed expenses is the key to budgeting for your dental procedure.

3.       Execute! Ok, so now you know how much your dental procedure will cost, the timeframe, and how much flexible income you have available per month.  Now you can make your budget, which will often involve cutting down on some of those common flexible income expenditures. The key is to have a specific budget for every expense and to stick with it. Make no excuses, and keep tracking all of your expenses every day. People who look and update their budget spreadsheets every day are much more likely to stick to their budget.  If you have a family or shared budget, be sure to let everyone know your plan and why you have plan. Just like a successful football team always has a good game plan set in place before every contest, so should everyone on your team at home.  

Patrick Toms DMD is a leading Gainesville, GA family dentist who can provide safe, effective teeth cleanings for children and is experienced with a variety of cosmetic, restorative and preventive dental procedures.