A helpful guide to funding your cosmetic surgery

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on November 25th, 2021       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Australians care about the way they look, and we sure don’t mind spending thousands of dollars when it comes to perfecting our appearances. If we are not spending money on beauty products that contribute to a $7.1 billion beauty industry, we are using it to pay for cosmetic surgery. Here are seven handy things you should know if you are looking to find affordable financing solutions for a cosmetic surgery.

Know your options

There are various reasons as to why people will undergo cosmetic surgery. According to the Australasian College of Cosmetic Surgery, there were 500,000 Australians who had undergone cosmetic surgery. $1 billion was forked out to fund these procedures. Getting a cosmetic surgery loan is one of the many financial options you can choose to help you finance your surgery at a low rate.

Compare, compare, compare

No matter what type of procedure you are planning to do, it pays to compare. Out of the top five cosmetic surgeries that Australians do, eyelid surgery was the cheapest costing a total of $4,536. Comparing the costs from various medical practitioners will help you find something that is within your financial reach. The same goes for comparing your finance options.

Your budget will be your best friend

Finding an affordable price can be achieved if you have a budget in place. If you do not have a budget in place you could end up taking out a personal loan amount that could cost, you more in the long run. A lack of budget can also drain your finances very easily, especially if you have a few procedures you would like to carry out. Budgeting and spacing out your procedures go hand in hand with finding something that will be within your financial reach and won’t make meeting repayments difficult.

Know your why

As much as you could save up or take out a personal loan to finance your elective surgery it is important that you know your why. This will help you way the cost of carrying out this procedure against the value it will add to your life. Not knowing your why can leave you with regrets.

Travelling for a cheaper procedure

People sometimes go on what is known as a plastic surgery holiday, which means travelling to another country to get your procedure done at a cheaper price. The benefits of having a personal loan to finance this procedure are that you will be able to pay for it no matter where you are. However, it is vital that you check that your procedure will be carried out by an accredited practitioner and the area in which you will be doing your cosmetic surgery is safe.

Keep an eye out for fees and charges

Not everyone can boost to have some money stashed away for a cosmetic surgery which is why some people will opt for a personal loan or a 0% introductory rate credit card to foot the bill. Keeping an eye out for fees and charges can save you from biting off more than you can chew. This means reading the fine print and checking the APR rate to see the true costs of your selected funding method.

Make sure your medical practitioner is registered

Finding the finances to take care of your medical procedure takes time and planning. The last thing you need is wasted time and money on a botched job that will cost you more to repair. Ensure that the medical professional who is working in Australia is registered with the Australian Health Practitioner Regulation Agency (AHPRA) or if they are part of the Australian Society of Plastic Surgeons.

It is possible to go to each organisations website and typing in the practitioner’s details to see if they are registered.

Did you find this page helpful?

Thanks for your feedback!

Compare personal loans today

We’re here to help you find the most affordable options, so there’s no better way to compare personal loans and rates than right here, all in one place.