[Jeskarose]

My husband and I would like to adopt from Africa....however we have a HUGE problem! The cost is just way too high for us. My husband is in the military and I'm a stay at home mom so money is already tight.

We'd REALLY love to bring home an older child that needs a loving family. I was wondering how everyone affords to adopt?? I mean, I've heard of some people raising money through fundraising....others take out loans. What do you all do???

We're worried we won't be able to adopt because of the cost. Any help or info would be wonderful!

Sincerely,
Jessica

[bromanchik]

Why not adopt an older child from America? There are lots of older children waiting in the US and there is lots of assistance if you adopt through the system here.

Just curious, but why Africa?

[HollynSteve]

Along with there being several children in the system here that really need the homes, the cost for a waiting child is alot less. Given the right subsidies, it could be free.

[gkasche]

Please e-mail me privately...I know of a 7 year old boy from Sierra Leonne who is presently in New York and they are looking for a family to take him. gkasche@usachoice.net

[tobeafamily]

My DH is also military, I do work though. Here are some of the things we did to save for our adoption:

1. We looked VERY HARD at our budget and cut out *some* (but not all) of the extra expenses. For example, we cut out SCUBA diving trips, something we both enjoyed but agreed we could do without. When we went out to dinner, we chose less expensive restaurants.

2. We asked our friends and family to contribute to our 'baby fund' in lieu of Christmas and birthday presents. Everyone got so into that, we ended up getting contributions 'just because' they really wanted to see us become parents.

3. Sold stuff on eBay that we didn't need (it's amazing what you can sell on eBay) and also had two garage sales. In our garage sale ads, we put that we were selling stuff to raise money for an adoption. We had people who came to our sale and just gave us a little 'extra' so we could adopt. That was pretty cool.

4. We didn't do this, but I've heard of others who've had home shows from places like Candle Lite, Pampered Chef, etc. and used them as fundraisers instead.

Remember that the military will reimburse up to $2 K in adoption expenses per child (up to $5K) post finalization. This is pre-tax, after tax it works out to be about $1200. Also there's an adoption tax credit through the IRS. Again, it's post finalization.

HTH

Regina, AMom to Ryan Joshua Thomas

[skelley2002]

Lots of good advice. We had an idea going into our adoption what the final bill would probably be, so that helped financing the adoption. But here's some ideas:

1) If you own a home and have equity in it, a home equity loan is affordable and tax deductible. If your adoption is inexpensive enough and you pay enough in taxes, you may get most of what you spend on the adoption back when you file federal and state income taxes. Plus, anything left over will be deductible because a typical home equity loan works the same as a mortgage. Rates are excellent for those right now. Most banks don't care if the loan is for home improvements or cars becasue the loan is secured.

Make sure you take advantage of all the tax breaks because they are very generous -- both the federal credit (or exemption) and your state probably has a deduction.

2) Unfortunately, my wife and I did not have enough equity in our house to qualify, so we took out a line of credit at our bank. Higher interest rates, but we figure we'll have most of it paid off in the next year with some shrewd planning and thrifty spending. The interest can kill you unless you let it.

3) Some assistance is available for lower income adoptive parents through agencies and the state, but you may lose some of the flexibility you're looking for or the process may take longer if you qualify.

4) Finally, beg, borrow and steal. Okay, don't steal, but beg and borrow. I'm terrified we're going to have trouble buying the things the baby needs when we get home, but I find that so many people have used cribs, furniture, clothes, etc. that if you're willing to overlooked the fact that the items are used, then you can save a lot of money by not buying new. It's not directly related to the adoption, but the pot of money comes from the same place. Saving later is just as good as saving before.

Good suggestions above on how to raise the extra cash. I think we'll try the birthday/Chrismas money thing!

Sean