Infertility is expensive. This is a well known fact. And for women who are struggling, there are many options to pursue. However, In Vitro Fertilization offers by far the best success rates. Unfortunately, it also comes with the highest price tag. IVF can vary in price depending on certain factors, such as the individual’s fertility clinic, insurance coverage, the state they live in, and their specific medications needed. In 2024, the cost of IVF can range anywhere from $15,000-$30,000 for a single cycle (according to Forbes.com). It’s important to know that certain states do mandate large employers to provide insurance coverage for infertility (i.e the Colorado Building Families Act). However for for many, very little is often covered by insurance.

This is an overwhelming number, and it is all too often completely out of reach for many couples. This price tag comes with zero guarantees, and many times women must undergo several rounds of IVF before achieving a successful, healthy pregnancy. If only “just relaxing” actually worked, it would save us all a lot of money!

My husband and I began financially planning for our future family even before we began trying to build that family, and before we started struggling. Before we got married, we moved from our tiny apartment to a bigger house in the suburbs. We bought a bigger car with a roomier back seat. We cut back on expenses and began saving extra money each month in order to support the life we wanted to be able to give to our future children. After we got married we splurged on a honeymoon in Hawaii, and I truly believed that would be our last big vacation before our lives completely changed!

Although our lives certainly changed, it was not in the way we had planned. One year after marriage, we began seeing a fertility specialist. Suddenly, that money we had been saving starting to go towards appointments, tests, treatments, supplements (so many supplements!), and anything else I could get my hands on that promised be a solution. Almost three years later, we are thousands of dollars in the hole and still chasing our dream of parenthood.

IVF is usually a last resort option. However, as soon as we started this journey, IVF has always been on my mind. Although I hoped and prayed it would not come to that, I knew I wanted to be financially prepared for it incase that is indeed where our journey lead us. Here a just a few ways I did just that.

  1. Review our budget weekly. Once I knew, and accepted, that getting pregnant was not going to be easy for us, I created a strict budget that we followed. I didn’t know how long we would struggle, but I knew I wanted to be prepared for the worst, for my own personal sanity. It’s important to understand your insurance and any benefits you relieve through work. From there, you are determine a rough estimate on what different test and treatments will cost. With this information, we created budgets for all of our monthly expenses including groceries, gas, dining out, etc. We meet every (yes, every) Monday evening to track our progress. This might sounds time-consuming or overwhelming, and at first it was, but overtime it became something that we actually look forward to. Now we enjoy our Monday evening “marriage meetings” and we are consistently aligned with our goals!
  2. Save and then invest. Saving for a big purchase, like IVF, can be intimidating. Luckily (I guess), we are completely in control of WHEN we decide chose to pursue IVF. My husband and I sat down and created a timeline that felt right for our fertility goals. Based on this timeline, we determined a certain amount of money each month that we would put into our savings account, this became our “IVF bucket”. For the savings account, I highly recommend a high yield savings account, which typically has a higher return interest rate (we got 4.5%). However, it wasn’t just about throwing our money into savings. We wanted to think long-term for our family. Once we got our savings to a comfortable spot, we then determined a certain amount that we would invest each month. In order to hit these number, this meant we had to cut back on other expenses, like dining out and miscellaneous shopping. Investing is not as scary as it sounds! Our overall goal was to get pregnant before we ever needed IVF, but we also wanted to be realistic. We set a timeline of when we felt we would be ready to take the IVF plunge, and made sure we managed our expenses, savings, and investments to be financial prepared.
  3. Shop around for the right clinic. I say this lightly, because I do not want you to think this means just going with the “cheapest” option. Price is definitely important, but I do not believe in simply shopping around for the best deal when it comes to trusting someone with such an important and vulnerable process. I spent a lot of time researching different clinics, their success rates, their specific policies, and of course, their costs. It was important to me to take the price into consideration, but also to feel fully supported by the clinic. $10,00-$20,000 is simply too much money to NOT feel comfortable with your fertility clinic. We ended up speaking with three different clinics before we finally found the right one for us. Was it the cheapest option? Not necessarily. However, I felt like they were the best option and would give us the best chance at starting our family. Ideally you will fall in love with the first clinic you chose, but if not keep looking! Choosing the wrong clinic can end up being very costly.
  4. Be thrifty. I love being thrifty! Facebook Marketplace is one of my favorite ways to save some money. However, it takes a lot of patience (but so does everything else when you are struggling with infertility). However, if you can put in the time it is definitely be worth it. I have sold furniture and other items we no longer use for some extra cash (I made $95 just last month). A little goes a long way! I have also found some great deals. I recently bought my husband a beautiful L-shaped desk for his office for under $150. This same desk would have cost $350 if we bought it brand new online. Buying and selling on Marketplace, or other online thrift sites, takes a lot of strategy but it has definitely been a useful tool for us. Try to make it fun!
  5. Take the time to research. When you’re desperate for something, it’s easy to jump to a rash decision. Trust me, I get it! The second I see an ad for a new tool that supports pregnancy, I immediately think I can’t live without it. There are so many options out there and if I don’t slow down, I can easily fall into the trap of buying it all. For instance, fertility trackers. I felt like I needed every possible device out there, and they are not cheap. However, after digging in to what my specific needs were and doing some more research, I settled on just one. It’s important to do with this with vitamins and supplements too. I promise, you will save a LOT of money if you first take the time to research your specific needs and what will specifically support those. I think I can speak for all women struggling with infertility, that a lack of research is not usually an issue.

IVF is a big investment, and it can feel daunting trying to work towards it. But don’t let this hold you back. That’s why creating a plan is so important. Sit down and figure out what your IVF costs will look like. Does your insurance include infertility benefits? If not, can you change insurance plans? Can you take advantage of any employer benefits? Can you cut back on certain expenses? If you need some assistance, there are also many options for financial support along the way! A lot of fertility clinics offer financing options. You can also look into different loans or applying for a grant.

Are you preparing for IVF? If so, how are you financially preparing for it? Connect and share; I would love to hear from you!