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What types of experiences have single adoptive parents had with regard to showing their ability to afford to raise a child? I make a reasonably good salary, for my field (social services), and my job has excellent benefits and good job security. I also don't have excessive debt (just student loans and a car that will be paid off within 2 years). I do, however, live in an expensive housing market, so my budget will be tight. Are there any requirements that you have a certain amount of "disposable income," or is just showing that you have enough to pay your bills and everyday expenses, with a little extra put aside for emergencies, enough?
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I believe it depends on what type of adoption you are pursuing..if it's international or a private agency, then they are more specific in the types of financial documents they require.. I am going through the state myself and from my understanding, they only want to make sure that you are able to take care of the child so they will require pay stubs..probably will look at a budget but they don't ask for w2s or anything....
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I am hoping to adopt an older child (probably preteen) from foster care. From what I've heard from people in my state, it doesn't sound like they're super-picky about income -- more just making sure you're financially responsible. I'm believe my income is adequate. It just feels like it's not a lot because I used to work at a job with mandatory overtime and made a lot more per year than I do now. But then, when I was working that job I couldn't pursue adoption because I wouldn't have had the time to devote to a child. My current job does have a lot of family-friendly benefits -- such as inexpensive insurance that has good coverage, the ability to get paid for the full 12 weeks of FMLA leave for adoption, and a pre-tax child care savings account, so I'm sure they will consider that when they are looking at my financial picture.
Nursie222
I was told that if you are a single parent and its only you and the child (meaning no other children in the home) then you must make more then 30k a year. You must also be able to provide medical benefits for the child. Thats what I was told. Good luck.
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I am going thru the State and they basically had me fill out this form that said what my monthly gross was and then had me list the following monthly debts:Medical/dental coverage, electric, gas, water, phone, tv, credit cards, savings, 401k, etcThey didn't even ask to include taxes which I thought was weird. And, no proof of my check stubs. Basically they just wanted me to tell them that I feel I can afford to raise the kids.
desertmom2b
I am going thru the State and they basically had me fill out this form that said what my monthly gross was and then had me list the following monthly debts:Medical/dental coverage, electric, gas, water, phone, tv, credit cards, savings, 401k, etcThey didn't even ask to include taxes which I thought was weird. And, no proof of my check stubs. Basically they just wanted me to tell them that I feel I can afford to raise the kids.
I'm also adopting through the state/county and just got the financial report paperwork to fill up, and it asks the questions that desertmom2b stated. I just have to fill it up.
yes at my initial interview, they wanted to see if I knew that any stipend they gave would not be enough to cover everything a child would need in a month, particularly a baby/daycare etc.
If I get a child that is 2 or older preschool, I have the daycare already...my mom used to work at one and the director is one of my references and a good family friend, so I know I can confidently show them options of care for my child (ren). Still researching for 0-2 range.
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I am single with no other kids in the house and I was able to adopt a beautiful baby girl via private adoption. The thing they are most concerned about is financial stability and not so much about how much you make. Because as you well know there are a ton of people who make lots of money but do not handle/manage it well. You will be fine just be forthcoming and do not try to hide/cover up anything.