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Wallet Pop Features the Opportunity Costs of LASIK

May 19, 2011

 

Wallet Pop is a consumer friendly finance site. Their mission is to help you manage your money and understand how the important stories of the day affect you wallet. WalletPop’s award-winning team of journalists cover consumer finance from all angles, including the best free deals and bargains, consumer protection, tax help, credit and loans, paying for college, and retirement.  In this month’s Blog is an article titled:  Savings Experiment: Is Lasik Laser Eye Surgery Right For You and Your Budget?

The premise of this article is to compare the price of LASIK with the price of contact lenses or glasses over the years.  Their conclusions:

  • After doing the math, the price a nearsighted person will pay for about 12 years of wearing contacts — after you factor in the cost of doctor visits — will just about equal the price of the surgery.
  • If you’re an eyeglass wearer who’s considering LASIK, keeping your spectacles is, for the most part, the less-expensive option. Of course, for those nearsighted people who want to kiss their glasses goodbye for good, it just might be worth it. It all depends on how you–well–see things.  This assumes one will be buying 15 pair of glasses in their lifetime.

What this article doesn’t consider are all the opportunity costs associated with glasses & contact lenses vs LASIK:

  • How much time do you save each day by not fumbling with your contact lenses?
  • How much money do you save in buying non-prescription sunglasses or protective eye wear?
  • How often do you lose or break your glasses or contact lenses?
  • How often do you forget your contact lens solutions on vacation?
  • How much do all those infections and allergies related to your contact lenses cost you?
  • How much is it worth to just wake up and see?
  • Foggy glasses in the rain?
  • Feeding the baby in the middle of the night?
  • This list could be endless…

So, when doing a risk benefit comparison, or factoring in opportunity costs, in my opinion, LASIK wins, hands down.  What are you waiting for?

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