How I (Almost) Cash Flowed Braces | Ep. 4

• Tiffany's 10-year-old son needed braces—an expense not in her budget. The orthodontist quoted $5,000, prompting her to request all available payment options including cash discounts.

When the orthodontist said, and by the way, this is going to cost $5,000, I was like, whoa, whoa, whoa. Like, how am I going to make this work?

• By asking for quotes with all payment methods, Tiffany discovered a $500 cash discount. She researched her employer benefits and found she had maxed out her FSA account (~$2,100-$2,300), which could reimburse a significant portion.

I learned from looking at my options that they did a discount, a pretty significant discount. It was about $500 off if I was to pay cash.

• Tiffany took a $5,000 cash advance from her credit union credit card at 10% interest—lower than typical credit cards. She paid cash for the braces to secure the discount, then immediately returned unused funds to the card.

I did a cash advance for the $5,000... at about 10% interest, which I'm like, that's not that big of a deal because I knew that I was going to pay it off pretty quick.

• She uploaded the receipt to her FSA portal the same day. Reimbursement reduced her balance to $1,800. She emphasizes returning excess borrowed funds immediately and knowing all options before deciding.

I went from $5,000 to now only having to pay $1,800. And I'm happy to report that that balance is about to be done.