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4 Tips for Getting a Loan for Dental Work

4 Tips for Getting a Loan for Dental Work

Unfortunately, dental work can be quite expensive, and if you don’t have dental insurance or your insurance doesn’t cover your procedure, you can be put in a pretty difficult situation. And if you’re in pain, you might not have a lot of time to wait to figure out where you’re going to get the money. Thankfully, there are a few techniques to make paying for these expensive procedures a little easier. If you’re considering take out a loan to pay for your dental work, save your wallet and make use of these tips.

Look at Your Budget and Make Sure You Can’t Afford It

Before you apply for a loan, it’s worth checking to see if you’re absolutely sure you can’t afford it otherwise. You may have already gone through all your checkbooks and tallied up all your budgets, but if you haven’t done this yet, it’s worth seeing if there’s anywhere you can tighten your pocketbook.

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If you can, categorize your expenses into wants and needs. Using a budgeting tool such as Mint or You Need a Budget can be helpful if you feel overwhelmed going through your expenses by yourself. Then, it’s as simple as eliminating the non-necessities from your budget. For instance, could you cut out all your entertainment costs for the month to help pay for your dental care? Even if you aren’t able to cover the entire cost of the procedure, you can at least limit the amount of money you need to borrow.

Check if Your Clinic Offers Repayment Plans

Your dental clinic might not expect you to pay the entire lump sum for your procedure right out of pocket. You should check with your dentist to see if there might be a repayment plan that would make paying for your procedure a lot easier. In addition, many dental practices accept government-based aid programs such as Medicaid or the Children’s Health Insurance Program; if you haven’t looked into these programs already, see if you are eligible. It’s worth noting that a repayment plan set up through your clinic probably won’t be reported to a credit union, so while you should make every effort to pay on time each month, you might get a little more leeway than financing through a loan or credit card.

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Even if you are eligible for aid and you’re able to work out a repayment plan with your dental clinic, there might still be some expenses that aren’t covered. While you might need to take out a loan to cover the rest of the costs, at least they will be made a little manageable when spaced out on a monthly basis. In addition, if you share your financial limitations with your clinic, they may be able to suggest lower-cost procedures or prescribe you less expensive medications. In cases such as these, every penny counts, and getting put on a cheaper prescription will help in the long run.

Finance With Your Credit Card or Dental Financing

If you have a credit card, you might be able to get away with putting your dental procedure on the card. Keep in mind that every credit card is different, so you should check your card’s terms and conditions to make sure this is possible, and if so, what the repayment stipulations are. In many cases, credit card companies will offer a 0% APR for the first year or so after signing up for a new card. As long as you’re able to pay off the balance within this time frame, you won’t have to worry about interest, but once you do slip out of this period, you can expect interest rates as high as 20% – or worse.

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If you don’t plan on using a credit card outside of financing your dental work, or you don’t want to get a credit card regardless, there are similar financing options that cater to helping patients pay for their health care. CareCredit is one such financing service, and they offer multiple repayment plans over different time frames. Of course, there are other similar financing service options out there, but if you’re having trouble finding the right one for your needs, talk with your clinic to see if they have partnered with any of these services.

Apply for a Payday Loan

If money is tight and you’re out of time, you can usually turn to a payday loan company for help. Nowadays, you don’t even need to leave your home to get one, as there are many online payday loans you can apply for. The appeal of this option is that it can be one of the quickest ways to get a loan with the fewest hoops you must jump through. Oftentimes, these companies require you to be over the age of 18 and working at a job earning at least $1000 every month. Once you can prove that, you’ll be in the clear for a loan.

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Many payday loans require no credit checks, meaning that you can rest assured that you’ll be able to pay off your expenses no matter where you are financially. Remember, though, that if you can’t afford to pay back the loan, you’ll rack up huge bills of interest and your credit score will be damaged. That said, if you’re confident that you’ll be able to afford the repayments of a payday loan, it might be the option for you. When it comes to health, you don’t want to leave things any later than need be.

Featured photo credit: 6 Ways to Make Sure You Get the Loan You Need via lifehack.org

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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