When you start taking your child to the dentist, life is pretty good . . . until their teeth grow into their mouths. I know technology has made everything smaller today, but is it possible that they have made our kid’s mouths smaller? I have three kid’s and it turns out the dentist ‘recommends’ they all get braces in some way, shape, or form.

Being that I’m a Private CFO® , it’s always my job to ask the question on where to get the best value. Remember that the orthodontist is still a business, and there is always room to negotiate even when it comes to your kid’s braces.

Most orthodontist have some sort of diagnostic fee that they will charge you somewhere in the nature of $200 to $400 to get a clean set of x-rays, etc. Your insurance might cover that or it may not depending on your company insurance. Most insurance plans, however, won’t cover the full ride of what it will cost for braces, retainers, ongoing exams, etc. It’s really important you call to find out the do’s and don’ts with your current policies before you make any decision.

After checking out several programs, most orthodontists will either offer a lump sum program with a discount (something like 5%). Some will even offer a coupon for a greater discount if you can find a place opening a new shop or a business that is trying to attract new customers. Always ask about the discount on paying lump sum.

The other way is to basically pay a down payment and then pay installments. You should make sure there is no financing charge from the orthodontist, and if that is the case it could work to your advantage. You just want to make the gross fee they quote you is the same on both sides. The decision of lump sum vs. paying out of cash flow will come down to how well you think you can do with your money in your own hands vs. theirs, your personal cash flow at the time of purchase, and what financing may be applicable when you engage in the process.

If you have children, then you need to think about how this expense will fit in your financial plan so you don’t get smacked in the mouth with a bill when you can least afford it.

oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

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Phone 1.800.355.9318 or 770.777.0427

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC. ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM.