Where did you get $ 4 adoption?

AviatorJJ · May 2011

We are thinking about domestic adoption. It will cost us between $25-40K. Where did you get the money for it?

Dr.Loretta · May 2011

We sold a rental property to pay the match fee. The rest we paid as we went along.

miss1180 · May 2011

In my situation, I was born with a disorder tha makes me infertile. SO I knew since I was little that I would have to adopt or do IVF or something. So I've been saving since DH and I got married 6 years ago, to make sure I had enough. I think you'd be surprised how fat it adds up if you just put a little bit aside each paycheck.

I've heard of people doing fund raisers like selling cookbooks,yard sales, things like that too.

Go_Dawgs · May 2011

A lot of it we paid as we went along because different amounts were due at different times. For the large fee due at match we used most of our savings. We also borrowed some money from family to help with travel expenses, but we paid this back very quickly by selling a car.

DavezWife · May 2011

Don't forget there are lots of tax credits and company perks that may help. You usually still have to pay the money, but we'll get more than half our expenses back (if we go agency route) someday.

ps - I totally read this as a "$4 adoption" lol. I was like, I want one that cheap, too!!!

leprendun · May 2011

Husband is very, very frugal so we thankfully had the money saved up. But we also went with a much cheaper agency. Our agency also allowed us to pay monthly fees, but they were still pretty high.

amm78 · May 2011

My grandfather, who built his family through adoption, gave us money for our agency fees shortly before he passed away last year. Any other expenses that come up, including finalization, will have to come from our savings, so we have been trying to put away money each paycheck for that.

Jenn is Silly · May 2011

I cashed in part of my 401K. After speaking with a tax advisor we found a way to minimize penalties, and upped our current contributions. Between that and taking our tax credit/company reimbursement and placing as much as possible into IRA's the effect to our retirement is minimal if any.

Bosanquet · May 2011

Ours is closer to $20k.... We have to pay about $16K at the final match. That will come out of our savings. DH's company gives $5000 and then with the tax credit, we plan on being able to put everything back where it came from....

Jenn is Silly · May 2011

Bosanquet:
Ours is closer to $20k.... We have to pay about $16K at the final match. That will come out of our savings. DH's company gives $5000 and then with the tax credit, we plan on being able to put everything back where it came from....

Good to see you again! Which agency did you end up with? I hope your process is quick and smooth!

come*on*baby · May 2011

We only did DA for our last child. We paid less than $10K, and we had that in a savings account for a new house. Since our DA was a complete surprise, we used the money from the new house account and we're paying it back. DS1 & DS2 were foster care adoption and they were "free" as far as adoption costs go.

kerryann24 · May 2011

Hi, I've been lurking for some time. I thought I'd jump in and say hello. We are finishing up our homestudy this month, so we haven't adopted yet. However, we are taking out a loan through our credit union. We're hoping the tax credit will be extended because then we'll be able to pay it back in one lump sum.

GLynn2009 · May 2011

We traveled a lot before DD so when we decided that we were going to adopt the vacation fund became the adoption fund. We did a private IA adoption and only paid 7K so we were able to pay for it all with the vacation fund then we received the tax credit this year and received all the money back.

LadyRed7 · May 2011

Some we paid as we went along (i.e. advertising fees and updated home study fees), we borrowed some from credit union and the rest we saved.

Don't forget the tax credit. I know it doesn't make it easy when you need all the money upfront, but knowing you will get back a nice amount makes it easier to swallow.

2ndTimeEpiphany · May 2011

My parents are helping us with the majority of the fees.

Then, my husband's company has a wonderful reimbursement program (up to $10,000) and there is the tax credit. We are hoping to be able to pay back my parents with both of those.

Jermysgirl · May 2011

We had it in the bank. H is a great saver!

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