Adoption, and in particular, international adoption, can be an expensive endeavor.? Here are just some of the ways to lessen the financial burden of an adoption.
- Research? employee adoption programs
Some employers offer an adoption program. Inquire about your company?s adoption program.? Every year, the Dave Thomas Foundation releases a list of the Best Adoption-Friendly Workplaces.
The total amount of an adoption can be overwhelming.? Breaking it into smaller chunks and paying over time lessens the sting and is more achievable for most families.? As international adoption can be a slow process, often taking a year or several years to complete, paying in increments can be helpful.
Consider if there are savings in the form of cash, bonds, or other investments that could be applied towards the cost of the adoption.
- Manage a budget and cut expenses
Create a budget by first determining how much you are currently spending and then committing to areas in which you can save money such as brewing your coffee at home, taking lunches to work, carpooling, or even downsizing.? This may free up a considerable amount of money over time that can be put into your adoption fund.
Going through your home, office, and garage to find items to sell not only helps to earn extra money, but also begins the nesting process of preparing your home for its new family member.? It is amazing how quickly the dollars start to add up when selling items you no longer want or need.? You can sell things online on sites such as eBay, Craigslist, and Kijiji, bring clothing items in to consignment stores, or hold a giant garage or yard sale.
Some banks and financial institutions offer low interest adoption loans.? If you are a homeowner, a home equity loan or line of credit can often offer the lowest interest rates.? Loans for an adoption should be considered a last resort as additional financial pressure when adding to your family will only contribute to stress.
If you are crafty, create something and sell it on a site such as Etsy, at a local market or through word of mouth.? Using a site such as Cafe Press, designing t-shirts or other merchandise specifically for your adoption is easy to do.? Perhaps you could bake cupcakes, design jewelry, or sew clothing.? For those not as creatively inclined, there may be a service you can sell such as tutoring, web design, landscaping, party planning, or music instruction.? If there is an area that you consider yourself an expert in, you can create and sell an eBook.? The only trick to making this step successful is to put all of the profits aside toward the cost of the adoption.
Fundraising is a great way to cover some or all of your adoption expenses.? Asking for item donations for a garage sale or silent auction is a wonderful way to involve friends, family, and local businesses without asking them for monetary donations.? Raffling tickets for something such as a beautiful handmade quilt or an item of value such as an iPad can be an effective way to raise money.? Other fundraising ideas include hosting a parent?s night out, having a bottle drive, creating a benefit dinner, holding online auctions, bake sales, getting sponsors for a race, having a car wash, and photography sessions.? There are also sites such as YouCaring which are designed to assist in online fundraising.? You can also achieve this by setting up a Paypal donate button on your family?s blog if you have one.
- Take advantage of military subsidies
Active-duty military personnel are eligible for reimbursement of certain expenses through the Military Family Association.
- Apply for adoption grants
There are many organizations that provide adoption grants.? Organizations such as Show Hope and Lifesong for Orphans have grant programs for families pursuing adoption.? Reece?s Rainbow is a unique organization which offers grants specific to a particular waiting child with special needs. For Canadians, Orphan?s Hope?and?Abba Canada?are places to check out for adoption grants. For Albertans, Spirit of Adoption Alberta is another organization that may be able to help you.
Source: http://www.theadoptionmagazine.com/2012/08/22/10-tips-to-help-finance-an-international-adoption/
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