Adoption is both a selfless act and true blessing for parents looking to bring a child into their home. The lifelong fulfillment of raising a child is absolutely priceless, but for parents looking to adopt, cost can become an issue. The average cost of a U.S. adoption is between $35,000 and $40,000. This doesn’t include the long-term costs of raising a child, from early care expenses to college savings plans. With costs that high, you may wonder, “Who could ever afford to adopt?”
There are many ways to offset the cost of adoption, from fundraising to tax benefits for adopting a child. You have options to make your dream a reality, but it takes time and serious effort. Birthmother’s Choice has partnered with ReachSOURCE Adoptions, LLC to provide affordable adoption options for birthmoms and families. These are our best recommendations for adoption financial planning:
Ask about employee adoption benefits, and research adoption tax breaks in your state.
Though the initial cost of adoption is high, you can receive some tax breaks and employee benefits. Research adoption laws in your state, and ask your employer if they are willing to give you partial compensation or paid leave during the first few months with your baby.
Make personal budget cuts.
Cutting back on your monthly bills, whether it’s going out less or losing your gym membership can help you save long-term for an adoption. It will also help when convincing friends or community members to donate to your cause. Putting a substantial effort into cutting costs will show prospective donors how much you are working.
Consider adoption of a foster child.
Adopting a foster child is a great way to bring a baby into your home. All of these children are in need of good homes, and oftentimes the cost of adopting a foster child is significantly reduced. You can learn more about foster care and adoption options from Birthmother’s Choice.
Plan a neighborhood fundraiser, garage, or bake sale.
Little contributions over a long period of time can help you raise money faster. Host a garage or bake sale, or plan a fundraiser that the entire neighborhood can be involved in. Hosting several of these events over time will raise awareness for your cause.
Create a Crowdfunding campaign.
Many people will want to donate to your campaign, but not everyone can make it to events and fundraisers. However, online fundraisers make it easy for people to donate as much as they want, without interrupting their busy schedules. You can find adoption-specific fundraiser websites, or create a crowdfunding campaign on popular sites like GoFundMe.com.
Ask a community influencer or local business to sponsor an event.
Community fundraisers are the best way to raise a large sum in a short amount of time. A banquet or benefit dinner can raise thousands of dollars, and oftentimes people you don’t know will attend if they hear about it in a local events calendar. Find a local business or event planner who can sponsor the fundraiser. Make sure you give plenty of time to plan, and offer a prize or activity for guests.
Adoption fundraising is a long process, but with time and patience you can bring a child into your loving family.