One of the best things I have done in recent memory is get an IUD. I am almost embarrassed to admit it, but a pretty significant part of deciding to get the Mirena was because my doctor made a strong case about how much financial sense it makes to get an IUD.
Damn, doc. You’re making a financial argument? He really knew his audience.
I would never advocate that anyone select a family planning method based on frugality. My friends, family members, and I have all gone through countless switches of birth control pill brands, migrated over to the ring or the patch when faced with unholy side effects, and yea some of that shit is expensive. If ever there were a part of life where I think it is okay to splurge, I would argue it is contraception. Like buy the good condoms. Really.
That being said, I was a grad student of limited means when my doctor made this financial argument. I also knew that my health insurance would be lapsing once I defended my thesis and I had no idea when I would have health insurance again. Don’t misunderstand me, there were many other compelling reasons for me to get an IUD. It was a decision that made a lot of sense for me. I won’t delve into those reasons in great detail but if you’re curious, the financial argument went something like this:
The Mirena costs about $410 in Ontario.
My student health insurance paid half. Okay we are down to $205.
All doctors’ appointments including the insertion and the follow-up visit were free of charge. Thank you, Canada.
It should be noted that the Mirena lasts a minimum of five years. Doc pointed out that even with insurance, I was currently spending about $10/month on the most generic garbage birth control pills on the market, accompanied by a host of horrifying side effects. Being a woman is awesome.
Using that method of contraception, assuming I had insurance coverage the entire time (which I wouldn’t) would bring me to a grand total of $600 over five years. That’s also assuming I didn’t break down along the way and switch to a better (*ahem* more expensive) method along the way, which I absolutely would have. So $600 is a very conservative estimate of what five years of hormonal contraception actually costs.
Also, periods are expensive. Doc informed me that half of women with Mirena do not get their periods anymore. I know that it is bizarre-o and maybe a little scary for many a woman, but I cannot tell you what a joy it is to live sans period. It has also effectively stalled my need for tampons for five years. I don’t hate that, and money is just one small reason. But since we’re talking numbers, the Huffington Post estimated that Canadian women spend about $65 per year on tampons and pads (also conservative, me thinks). Over five years, this totals $329. So let’s break this down:
| Scenario A | Scenario B | |
| Method of Contraception | Birth control pills | Mirena hormonal IUD |
| 5-Year Contraception Expenses | $600 | $205 |
| 5-Year Period Expenses | $329 | $0 |
| Grand Total | $929 | $205 |
| Monthly Cost | $15.48 | $3.50 |
In Scenario A where I continued to use my same nonsense birth control pills with the added fun of still getting my period, the grand total for five years of maintaining my highly desired childfree status would have cost $929. Never a cost more worth it, in my opinion, but hey, that’s still some cash. It breaks down to a monthly reproductive health cost of $15.48.
In Scenario B, where I got the Mirena, the grand total for five years of sweet childfree living is $205. All of this cost is front-loaded, which can make it a pretty big expense at the time of insertion. Also, the insertion is not exactly a walk in the park. BUT you are then worry-free for five or more years, and the monthly cost of my reproductive health needs is now averaging $3.50 per month.
An added bonus: Doc tells me that the scientific literature is now suggesting Mirena is good for 6 years, which would bring the cost down to a cool $2.84 per month.
Back to the bottom line. We are talking about a difference in roughly $12 per month and I know that. This is not the make or break line in my budget. But as with many other things, the value added shines through in other, more subtle ways.
For instance, the Mirena has reduced my chances of experiencing an unintended pregnancy in the next five years. You cannot put a price tag on peace of mind. The sheer peace the IUD has afforded me by making it less likely that I will have to deal with the emotional, psychological, and physical tolls of becoming pregnant when I don’t want to be is pretty wonderful.
And suppose I were faced with an unplanned pregnancy. I am proud to say that abortion is a covered procedure in Canada and women do not have to pay out-of-pocket for it, so there would not be direct financial impacts associated with that decision for me. But I am privileged to say that. The average cost of a first-trimester abortion in the US is about 470 USD – and that was back in 2009. It is even more expensive in other parts of the world.
And while about half of all unplanned pregnancies will be terminated, half of all women who encounter an unintended pregnancy will carry the pregnancy to term. Many of these women will decide to parent. That comes with massive financial implications. You know, to the tune of a quarter of a million dollars.
So while getting the Mirena was kind of about frugality initially, that has just been a small bonus. It has actually provided so much value to my life in other ways. It is providing great confidence and comfort when it comes to some of the biggest financial decisions I will ever make – if and when to have children.
So, thanks Mirena. I initially got you to help me save a few bucks a month, but you have done a whole lot more for me.
Have any of you made a decision based on frugality, and ended up getting a whole lot more out of that decision than you even hoped? Or have you made a frugal decision and ended up totally regretting it? Let me know in the comments!
Be ready to side hustle. 
