Today's post in the Transracial Adoption ABCs is brought to you by the letter "M".

Money, money, money – Money is such a big issue in adoption that I wrote it three times. :)

One of the very first things that people tend to ask me when they are inquiring about adoption is, “But isn’t it really expensive to adopt?”

The truth is, it IS pretty dang expensive to adopt, but I have seen time and time again how doable it is, and how even when it seems like there is no way to come up with the money that you need, that when there is the will (and some faith and some determination), there is a way.

There are three main ways to pay for an adoption, other than just happening to have a big old pile of extra money laying around (if you do, and want to share, leave a comment and I will email you with my mailing address). :)

The first way, is by taking out loans, or debt. Debt stinks. I hate debt. Americans have too much debt. BUT, when it comes to adopting, I really can’t think of a better reason to go into debt. People take out loans for houses that are way more expensive that then really need, for cars that are way more fancy than they really need and for all sorts of crud that no one really needs, and don’t think twice about it.

So to me, getting into some debt to pay for an adoption is a pretty dang good reason to get into some debt. And with the adoption tax credit (which benefits many adoptive parents), there is often some help in paying off that debt.

Be smart about where you borrow from. Look into adoption specific loans, home equity loans, no interest credit cards, your life insurance policy, 501Ks and other sources, and make an educated decision before you borrow.

The second option to pay for your adoption is fundraising. Fundraising usually takes a little ingenuity and a lot of hard work, but if you are willing to put the effort in, you can be quite successful.

Garage/rummage sales, spaghetti dinners, ice cream socials, silent auctions, mailings, selling magazines, being represented by a non-profit organization and making and selling items are all just a few of the ways that adoptive families successfully fundraise to help pay for their adoptions.

The third way to pay for your adoption is grants. Adoption grants rarely cover the entire cost of an adoption, but can take a big chunk out of what you have to come up with.

Some grants are given based on the financial situation and need of the adoptive parents. Some grants are given based on the special needs of the child being adopted. Some grants are only given to families who fit a certain religious profile. Some are given through adoption agencies and some are given through independent organizations.

There are many options out there, so do your research. Find out what you may qualify for, follow application directions carefully and apply for as many as possible.

I know many, many, many adoptive parents who had to put work into financing their adoptions. I know many adoptive parents who were very nervous about starting the adoption process because of the costs involved. However, I do not know any adoptive families who committed themselves to the process and were not able to make it work because of money.

Like I said, where there is a will, some faith and determination, there is a way.

I linked to many of my earlier posts on paying for an adoption in this post, but you can also find all of my adoption funding posts here.