Quick!
Think of something more personal than sex.
Can’t, can you?
No, I haven’t sold The Financial Student to some sleazy Internet video company.
Interestingly enough, sex is very personal. And it can have a lot of financial implications.
Until abstinence only education starts working, many teens and young, unmarried adults will engage in sexual intercourse with their partner(s). But this um, activity, can come with some significant financial consequences if you aren’t careful. Babies are expensive and nobody wants to waste hard earned cash on antibiotics for a preventable condition.
Below, I’ve listed some common forms of birth control and STD prevention (I chose these primarily on how accessible they are to teens.)
1. Condoms (A.K.A. rubbers, love gloves, and raincoats)
Pros: cheap, quite effective in preventing both pregnancy and the transmission of STDs, doesn’t require a prescription
Cons: not as effective at preventing pregnancy as the pill, can interrupt the “passion”, latex condoms are damaged by oil based lubricants, some individuals have a latex allergy (condoms made out of polyurethane are available)
Costs: Around $1.00 per condom. Significant savings can be realized by buying in bulk. For example, here’s a package of 100 for 15 dollars
2. “The Pill” (A.K.A. the combined oral contraceptive pill, containing both oestrogen and progestin.)
Pros: extremely effective at preventing pregnancy since less than 1 out of 100 women will get pregnant each year if they always take the pill each day as directed, doesn’t require an interruption, can reduce acne, cuts risk of certain cancers
Cons: prescription is needed, no STD protection, certain medications (like antibiotics) can interfere with the pill’s effectiveness, must remember to take it everyday
Costs: $15-$50 per month. Many insurance companies will pay for “the pill”.
3. Spermicide (Works by stopping sperm’s movement before they can fertilize the egg.)
Pros: relatively cheap, no prescription needed, okay to use with condoms or the pill for additional protection
Cons: not extremely effective compared to other methods, no STD protection, interrupts the “passion”, messy, slight risk of irritation
Costs: About $8. Refills range from $4 to $8.
4. Abstinence (A.K.A. the not touching each other method)
Pros: 100% effective in preventing pregnancy and the transmission of STDs when used all of the time, allows for upholding certain religious and moral beliefs
Cons: relies completely self control, partner may not be on board
Costs: free
My hope is that this list provides a good overview of some of the most popular methods to prevent a pregnancy or STD. I’ve left out methods like the patch or the shot because they work in similar ways to the pill.
While all of these methods have similar financial costs, each has different medical and social issues involved, so it’s important to make an informed decision on what’s right for your body. For more information, check out Planned Parenthood’s excellent website.
{ 1 comment… read it below or add one }
Honestly, as the years have gone on, I’ve found that money is actually more personal than sex. Sex can be discussed over dinner with friends, but money…money is pretty much a taboo subject, and it’s considered rude to discuss it in any more than the vaguest of terms.