One of the biggest obstacles to adoption for most families is financing. When they hear that it will cost between $20,000 & $50,ooo for domestic infant or international adoption they are often discouraged from the get go. Fostering/Fostercare adoption is an excellent option, it is much less expensive, sometime even free. It is however, equally time consuming/frustrating either way.
There are lot's of resources and ideas on the web to help. There are grants you can apply for, low interest loans, and fundraising ideas. Some people borrow against their 401K and pay themselves back over time with interest. Did you know the adoption tax credit is up to 11,380.00? You can use it over 5 years if you need to. Some people take a second job until their child comes home. Can you trade in your car for a decent used option? There are lots of ways to find the money if you are motivated enough.
So far we have, cut way back on our spending. Asking ourselves is this item a need or a want? Is a new pair of pants really going to impact my life, or can I use that money for something that will?
I have started using coupons, this is probably a no brainer for some, but I has always thought that it is just too much trouble and too time consuming. Really it's not. It was an exciting day for me when I realized that Meijers (and most other stores) double coupons up to 50 cents! Sad, I know.
I work part time, odd hours and weekends, so one of us is always home. All the money I earn is now being saved toward Ben.
Jim traded in his nice, but really not necessary car (a Volvo wagon that we bought used), in for a nice more practical option. This put a good chunk of cash in our savings account. We decided long ago that it was not worth the big payments to lease or buy a new car. Sorry Detroit, but buying a new car off the lot is a terrible financial decision. They depreciate the moment you drive off the lot. We started buying used cars with cash, or paying them off quickly. Its a good feeling to have no car payments, and not be locked into a vehicle that you can't get out from under in a pinch. Our pride obviously evaporated long ago, we don't make decisions based on what other people might think.
Jim may also be taking a second job at least until Ben comes home.
We are having a garage sale. Cleaning out clutter and accepting generous donations from our wonderful neighbors, family, and friends.
Basically we are doing whatever it takes to bring our new little guy home, and saving money has become a fun new challenge!