Raising money to adopt can be hard. With adoption costing as much as $30,000, it can be a challenge to raise the funds to adopt. There are not many people who have $30,000 lying around to use for an adoption.

Here are some ideas to consider:

Adoption Tax Credit

The adoption tax credit helps to offset the cost of an adoption. Right now, the adoption tax credit is $10,000, which means that you get a $10,000 credit on your taxes (not just a deduction). The credit phases out depending upon income, but it can really help to defray the costs of an adoption. See Angela’s post Adoption Tax Relief Guarantee Act of 2007 for more on this tax credit, which is set to expire in 2010.

Adoption Benefits from Work

Many companies offer adoption benefits once your adoption is finalized. Check with your Human Resources Department to find out if your company offers this benefit. Some companies offer as much as $2,000 toward an adoption.

Adoption Loans

You can take out a loan to finance an adoption in the same way that you take out a loan to finance a car or remodel a house. Many people take out a home equity loan to adopt. Check with your bank to find out what options are available.

Adoption Grants

You might be eligible to apply for an adoption grant. See Adoption Opportunities Program Grants: Addressing Barriers to Cross-Jurisdictional Placements for an example of a grant opportunity. Surf the Internet and research what grant options are available.

Family and Friends

You can open a savings account for funds toward your adoption and ask your friends and family to make donations toward this fund in lieu of birthday and Christmas presents.

Aggressive Saving

There are many things you can do to “tighten your belt” and save money toward the adoption. Make some of the following budgetary changes, and deposit the savings into your adoption savings account:

• Brown bag your lunch.


• Cut out luxuries like manicures and pedicures.


• Downgrade your cable and/or Internet service.


• Downgrade your cell phone service.


• Downsize your car and/or house.


• Stop drinking coffee at expensive coffee shops.


• Stop smoking.


• Take a more modest vacation.


• Use coupons.

You might think that a small change like using coupons will not make much of a difference, but you would be wrong. A friend of mine carefully clipped coupons and tracked her savings for one year. She wound up saving $4,000 in one year just by using coupons. That is a sizable amount of money to apply toward an adoption.

If you really want to adopt, then you can make it happen. Yes, saving $30,000 is a daunting task, but adopting a child is priceless.

Related Topics:

• Raising money for your adoption



• Saving money for adoption



• Fundraising idea: got something you can sell?



• Adoption ABCs – Money



• Adoption Financing

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