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Hello everyone. This is my 1st post here, so I hope I get this right!
Here's a little history first: my husband & I are 27. We have twin girls who are 6. They were born at 26 weeks after a very difficult pregnancy. I suffered from severe toxemia & was scared to even consider pregnancy again. My husband had a vasectomy before our girls were 2 & now that they are almost 7, I can't imagine my life without more babies. I am not going to quit until I figure out a way to expand my family.
We are highly open to adoption & hope to get to. But I just need some direction. We don't have the highest of income & I am so scared that we will never be able to afford adoption. Can any one give me any advice or encouragement on this topic?
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I think you can definitely make it happen! We too are choosing to adopt because of past pregnancy history and not necessarily because we aren't able to have children. We have a 3 year old.Anyways, there are a wealth of different paths to adoption with varying financial impacts. If you do a private adoption without using an agency, but working with an attorney and the birth parents themselves you can cut costs significantly if that is something you are comfortable with. If you really feel the desire to be assisted through an agency, the lowest cost is probably going foster to adopt through your state. That would be more if you weren't set on having a newborn though. Or there are agencies that will put their fees into a paymennt plan, so you can pay the fees over a 6 month time period, or there are agencies that will work on an income based sliding scale, it's not always a big difference in money, but any little bit helps. In addition there are grants you can apply for after your homestudy is done, and there are special adoption loans with very low or no interest. Some people have family members that help a little bit. And the adoption tax credit is now permanent. It isn't currently being directly paid out, but it should reduce your tax liability so that you get a decent refund. Don't be discouraged by the financial, if you'd really like reassurance, speak with a financial advisor and make a plan. I think it's very doable!As for us personally, we are choosing to take out a personal loan with our bank. We do have the money in savings to cover it, but it would be nearly our entire savings, so since we have financing available to us, we will take advantage of it so we don't take a financial blow and deplete any emergency funds.Check out the US government child welfare site, they have tons of info and can answer some of your basic questions, including about types of adoption and financial considerations.