It seems that one of the questions I hear the very most from people contemplating adoption is, "What does it cost?" Upon hearing what an average adoption costs, many are immediately either highly discouraged, highly disgusted or both.

Coming up with the money to pay for an adoption is an adventure for many adoptive parents. I would say that the majority of adoptive parents do not have a neat pile of cash in their savings account that will cover the entire adoption cost before they start off.

For us, paying for adoptions has always involved a combination... more

All adoptive parents know that money, and how to come up with enough of it to pay for an adoption, is often a huge concern when deciding to adopt. International adoptions almost always end up costing over $10,000 (and sometimes double or triple that) between agency fees, homestudy fees, immigration fees and travel or escorting costs.

Fees for domestic adoptions are often in the $10-20,000 range, with exceptions (sometimes) for special... more

I figured I would take a break from some of the "heavy" topics I have been hitting lately and go back to my Transracial Adoption ABCs for a short while. I am up to the letter "T".

Tax Credit - Before you read any further, please understand that taxes are complicated, and I am no where near an expert on this. I don't even do my own taxes (my Dad's accountant does). So take this information as basic and as a starting point, and do your research, and when... more

Continued...

Adoption agency- As far as adoption agency fees go, this is where the big money comes in. Most of the agencies have fairly similar fees for the same programs, but again, do your homework. In the Ethiopia program I know for sure that there is close to a $5000 difference between the most expensive agency and the least expensive. That’s a lot of money!

Again, I would never choose an agency based only on fees, but it should be part of your research. Ask for a detailed breakdown of what is due when and where it goes (make sure you are getting the TOTAL fees that will be due). Use the fee info along with the rest of the info you collect to find the right agency for... more

Happy almost Turkey Day everybody! I am going to try and get the rest of these question and answers finished up today, but please, feel free to leave a comment with a question anytime. This has been fun,

Ok, “fosteringlove” asked, “Do you have any money-saving tips for any part of the adoption process, whether it is near the beginning or anywhere up to or beyond travel/escorting? Of course, I don't mean to make this all about money or to suggest that anyone should cut corners or make poor decisions to save a buck, but I am sure most of us, like you, have to take finances into consideration while engaging in this process.”

Money saving tips…hmmmmmmm…this was a hard one! But... more

Here is the list of organizations that I found that advertise being a resource for helping adoptive families fund their adoptions. *Word of caution- PLEASE investigate any organization closely, including insisting on references, before you give them your hard earned or hard raised money, or that of your family and friends. I have no personal experience with any of these organizations.

Anna Bears Fundraising- I just found this website today and I love it! In a nutshell, you buy teddy bears from Anna Bears, and then sell them to raise money for your adoption. You can either buy a bunch and then sell them, or pre-sell them and then order them.... more

Now that I have covered “ask nicely” and “borrow”, that leaves me with “fundraising”. As I have said in previous posts on this topic, most people who set out to adopt do not have the entire lump sum of money just sitting in a bank. I know that a lot of perspective adoptive parents feel very discouraged when they realize the costs involved with adoption and I want to encourage you that it is very possible to get the money you need when you are determined and it is for a good cause. Remember, where there is a will, there is a way.

In previous posts I gave information on adoption... more

This is the second half of resources for adoption loans. See the previous post for more information. I recommend you talk with several different organizations and banks to get a good idea of what options, interest rates, terms, etc. are available.

When I was able to find a website, I included the link and you can click on the name of the resource. In some cases I was only able to find a phone number.

The National Adoption Foundation- The NAF offers a credit card designed with adoptive families in mind, with all the benefits and protection offered by U.S. Bank and Visa. Plus, a portion of every purchase will go to support the NAF’s efforts... more

Ok, so the second plan of action in my “ask nicely, borrow and fundraise,” advice for funding your adoption is “borrow”.

Let’s face it…no one likes to borrow money. No one enjoys debt. And yet we take out loans for houses and cars and vacations and lots of other things and don’t over-think it too much. Personally, I can’t think of a better reason to get into debt than adopting a child. Hopefully you will be successful enough with the “ask nicely” and “fundraising” aspects of paying for your adoption and combining that with what you have saved, you won’t have to get into “too” much debt... more

This is the second half of my list of adoption grant resources. See the previous post for the first half, and check out the "How to Fund an Adoption" category for more resources.

National Adoption Foundation- This grant program is open to all legal adoptions including public or private agency adoptions, international, special needs or adoptions facilitated by an attorney. There is no income requirement. There is a simple one page application and the only requirement to apply is a home study, or one in progress. The Foundation's board meets four times a year, during the last week of each quarter, to award grants in amounts ranging from... more