When my wife and I started our adoption journey, we were surprised (and a bit frustrated) by how much it costs to adopt a baby in the U.S.
If you’ve done a little bit of research, there is a good chance you are surprised by the costs too. The U.S. Department of Health and Human Services says that over one-third of Americans have considered adopting, but no more than two percent have adopted.
Do you think this could be due to the high cost? You bet.
Now that I’ve been through two adoptions, I want you to know that it is possible. You can even adopt without debt, but it will take some preparation and work.
What are the costs?
You can contact an adoption agency or attorney to find out their costs, however they may just give a range rather than an exact amount. You might see a range of $20,000 to $40,000 or more.
These large numbers may scare you from even starting the adoption process. Don’t be scared. So many people adopt every year – and you can too!
You can do this – with a plan. You can take the time to raise the money you need for your adoption. In most situations, you have some time to come up with the money you need.
You may have to only pay for the agency/facilitator application fee at first. Then a few months later come the home study costs. Some agencies/facilitators have rather large program/contract fees that cover advertising, networking, birthmother counseling, etc.
There may be some birthmother expenses that come after you are matched, usually several months down the road. There are a lot of different situations possible, but whatever the case you have to plan on how to raise the funds for your adoption.
Where can you get the money for your adoption?
There are a lot of ways to raise the money you’ll need for your adoption, including the following:
Your savings and your budget
Hopefully you have some savings already that you can put toward your adoption fund. When my wife and I began our adoption process, we started an adoption fund within our budget.
Maybe a budget is a nasty word to you, but this may be the time to embrace it. You can do some simple cut backs, like eliminating going out to eat and cooking meals at home, or by brewing your own coffee rather than paying Starbucks $4/day.
Take a long look at creating a budget or restructuring your budget. This is a great first step toward building up the money you’ll need for an adoption. Check out these free budgeting forms at DaveRamsey.com.
Federal Adoption Expense Tax Credit
For each tax year, the federal adoption expense tax credit goes up a little bit and is around $14,000 per adoption (subject to income limitations). See IRS.gov for or the North American Council on Adoptable Children for more information.
Employee Benefits
Many companies offer adoption benefits to employees. This can be great for you – especially if they pay for adoption expenses. Ask your company if they offer any type of adoption benefits. You can find a list of the 100 Best Adoption Friendly Companies in the U.S. If your company doesn’t offer these benefits, check out “How to Lobby Your Employer for Adoption Benefits,” at AdoptionFriendlyWorkplace. They provide easy to follow resources to simply and effectively ask your employer to look into providing these benefits.
Fundraising
A well-organized fundraiser is a great way to raise money for your adoption. They can be a lot of fun and creative way to involve your family and friends. Find out more about adoption fundraising.
Grants (free money)
There are nonprofit organizations who want to encourage adoptions and will offer grants of $1,000 and more to qualified couples. Helpusadopt.org is a grant program I highly recommend. They gives awards frequently each year to families who want to adopt and “demonstrate that you are facing significant financial obstacles and need financial assistance with your adoption expenses.”
Resources4adoption.com is a great place to find lots more info about adoption grants.
No matter what method you choose to find funds for your adoption, don’t wait to start saving.
You can do this.
Think about how much sweeter it would be to bring home your baby without any debt hanging over your head. That wonderful adoption day will be here before you know it.
For even more great resources:
- Visit my Resources page
- Check out the book Adopt Without Debt: Creative Ways to Cover the Cost of Adoption
by Julie Gumm
- I recommend checking out the financial resources and ideas from our friends at the National Council for Adoption.
- Check out the amazing site and toolkit at FundYourAdoption.tv.
