Let's face it, adoption - whether domestic or international is expensive. Information from the Adoption Guide states: "The average cost of adoption, as reported in the latest Adoptive Families adoption cost survey (concluded in November, 2008), was between $25,000 and $30,000." Depending on many factors- it can range from $17,000 - $50,000 (an estimated range). A lot depends on whether you are open to race (most agencies charge different prices depending on race), whether you have to travel to get your little one (either overseas or in the US for a domestic adoption), and the amount of legal support you will need to facilitate/finalize your adoption.
Many single women may be deterred from adoption given the cost and the purpose of this post is to discuss things to consider in terms of paying for/affording adoption expenses including:
1) The federal government has a adoption tax credit which for the 2009 tax year, has been increased to $12,150.00. This amount is subtracted from your tax liability so, for many single moms it take several years to claim all of the tax credit. This does not help with the upfront costs but can help offset many of the other expenses post adoption.
2) Many employers have adoption benefits. For example, my employer will give families $2500 to offset the cost of adoption if the baby is placed within the first six months of life. For some employers, age is not factored in and an adoption benefit can be accessed any time a child is adopted.
3) There are grant and loan programs for single moms interested in adopting. Although these will likely not pay for all of the adoption expenses, they can help. I know many women may be reluctant to take out a loan to pay for an adoption and, you must take into account that your expenses will increase quite a bit following the adoption - particularly if you need to pay for childcare. However, as my friend Tiffany has mentioned to me, "folks are willing to finance a car, why are they not willing to finance an adoption?" Great point!
4) If you are single and have no children, perhaps picking up a few hours a week at another job can help offset the expenses. I have a job that, before I adopted, allowed me some time in the summers that I used to make extra money consulting with schools. I saved the extra money for adoption and I know of a few other single women who have done the same. Before you adopt is the time to do this extra work for money as once you get your sweet one, you (a) won't have time and (b) will likely want to spend all your spare time with him/her (I know I do)!
5) If you want to be a mom- don't be afraid to ask for help or to hold a fundraiser. I know of couples who have also needed to raise funds for adoption and have done this via fundraisers either through their church, online blog, or through other venues. There are websites that will help you fundraise for adoption such as the one below:
http://www.ladybugblessings.com/adoption-fundraiser.html
More information on fundraising:
http://fundraising.adoption.com/
I don't know much about these sites, not endorse them but if I needed money for adoption I would likely look into some of these avenue so help raise money.
6) If you are interested in fostering a child first prior to adoption and are open to older children, the foster care system in your state may be a very viable and less expensive way to adopt a child.
Other considerations:
a) When budgeting for adoption, take into consideration that as a single woman, you will be filing your taxes as "head of household" now with one or more dependents. This can make quite a difference in each of your paychecks. My paychecks increased by $250 by claiming one dependent and I am interested in seeing what happens during tax time this next year (hoping for a big return :)
If you are unsure whether you want to adopt domestically, internationally or from foster care, the Adoption Guide has a nice decision matrix that details the issues you should take into account.
b) One thing many folks don't take into account is the cost of being pregnant/having a child when they are looking into adoption options. The average cost of giving birth to a child is $8000-$10,000 which for families that have insurance, this cost is reduced quite a bit but still could result in thousands of dollars of expenses. Other costs associated with pregnancy are also often not taken into account such as maternity clothes, prenatal visits, potential loss of work days due to pregnancy related illness, and the myriad of other expenses of having a baby. So- in essence -whether you give birth or adopt- there are costs associated with it.
If anyone has other suggestions, please post a comment. But- most importantly- don't let the expenses scare you......if you want it badly enough- go for it! Start saving, raising money or whatever it takes to make your dream come true. I am so, so glad I did!
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