IVF Has Left Me $15,000 in Debt

Hi Scott,

I believe my situation is unique. I am 42, single, earning $85,000 (including super), and about to embark on IVF cycle number seven, as I have not yet met Mr Right and at my age have no time to wait for him. IVF has left me with a debt of $15,000, and after my next cycle I will (if I am careful) have $10,000 left in savings, which will pay the rent for six months if I fall pregnant. I will then need to save more and pay off the debt throughout my pregnancy. Would love your advice as I really need to get ahead and it is tough.

Mandy

Mandy,

Your situation reminds me of the young people that write to me who desperately want to buy a house they can’t afford. They scrape and borrow too much and eventually get over the line … only to realise just how expensive the ongoing costs are. The only advice I have is to think beyond the pregnancy: you’ll get 18 weeks maternity leave at $695 a week before tax. You’ll need to work out your maternity leave entitlements with your employer. After that you should receive Family Tax Benefit A and B, plus some rent assistance. Financially, you’re setting yourself up for a very hard road. But you obviously know that. If you’re going to do this, make a vow to do it without debt. No credit cards. No personal loans. Debt makes everything more stressful, and more expensive. You’re obviously a very determined person. Good luck.

Scott