How to Get Financially Prepared for Adoption

how to financially afford the adoption

Life is hard. Adoption is hard. Money is hard.

A few years ago my 3-year-old niece informed my sister that she could do hard things. She inspired me to put one foot in front of the other while we faced our fertility and adoption journey. It’s the end result that has kept me going.

While you are on your adoption journey, here are a few tips to help you financially prepare.

Set the Goals

Know where you are going, how you are going to get there, and how much you need during that journey. 

Research adoption agencies or adoption consultants, investigate local organizations that support adoption. Discover what their fees are and when those fees are due. Do you pay along the way or all at once at placement? 

Be sure to find an organization that you feel comfortable with. Think of it as dating. You don’t want to jump into marriage without dating them for a while. Once you choose an adoption agency or consultant, then you’ll know how much money you will need to save.

Open up a savings account specifically for Baby Jones 2021 and begin making systematic payments from your paycheck into that account.

Create Multiple Sources of Income

To get to your goal faster, you need to create multiple sources of income. 

“There are more ways to make money in this country than I can shake a stick at.” - D. Bridges

This is the truest statement. You can sit down and brainstorm 50 ideas right now and not blink an eye.

The question is, are you willing to do the work to make the money?

50 Money Ideas for Adoption

  1. Sell garden produce
  2. Plasma donation
  3. Babysitting/tutoring
  4. Barn dance, hay rides, pony rides
  5. Autumn events at your home
  6. Sell a cookbook
  7. Dog washing/walking service
  8. Scavenger hunt fundraisers
  9. Sell your talents
  10. Sell t-shirts
  11. Neighborhood donated garage sale
  12. Airbnb your extra room/basement
  13. Crowdfund
  14. Adoption and fertility grants
  15. Host golf outing
  16. Comedy night and dinner
  17. Silent auction event
  18. Text to give campaign
  19. Balloon raffle
  20. Give it up challenge
  21. Local restaurant partnership
  22. Wheelbarrow penny drive
  23. Cookoff
  24. Candy guessing games
  25. Donate your big day
  26. Walk dogs with Rover
  27. Sell Walnuts to Hammon's Black Walnuts
  28. Drive for Instacart
  29. Deliver for Door Dash
  30. Rent out a room on Airbnb
  31. Host an exchange student
  32. Sell printables on Etsy
  33. Start a laundry service
  34. Sell a specialty dessert
  35. Pressure wash buildings for a business
  36. Become a Virtual Assistant
  37. Sell jewelry on Instagram
  38. Tutor at a local school
  39. Buy secondhand and sell on FB Marketplace
  40. Sell crafts at Farmer's Markets
  41. Teach a class 
  42. Proofread
  43. Do voiceover work for authors
  44. Edit podcasts and write show notes
  45. Perform on a street corner (music)
  46. Sing at funerals or weddings
  47. Be a helper for elderly
  48. Collect aluminum cans for recycling
  49. Deliver newspapers
  50. Host a consignment sale

Those were some fun ideas! I know you could put your talents, time, and energy to task and raise the money you need for adoption.

Follow a System

It can most certainly be intimidating to start a side hustle when you’ve never done it before. 

This is where I want you to be like Ray Croc. Did you know that he didn’t start the first McDonald’s? He took another company started by two brothers with the last name of McDonald, McDonald’s Bar-B-Que. He followed their system and franchised it. He didn’t recreate the wheel. There are others that have done what you are trying to do and they’ve been successful at it. Follow them. 

In the Preparing Financially for Adoption course, there is a section on step-by-step instructions on how to start a business. Included is a checklist, video instruction, budget spreadsheets, and links.

Find a business coach that specializes in growing business owners with your niche and follow their guidance to success. You can also find information on how to start a company with your niche on YouTube, Pinterest, and Teachable or Skillshare.

Track the Money

Discouragement comes when we don’t know where we are going, how we are going to get there, and the journey to that destination. Visual reminders of your success will provide motivation to help you reach your goal.

  • Download printables from Etsy to color in for each $100 you earn.
  • Create a giant thermometer to post on your door.
  • Use an excel sheet to track your progress.
  • Visit your “Baby Jones 2021” Savings Account on your banking app.

Obtain Motivation

Do you ever feel alone, like no one else is doing or feeling like you are? Adoption can feel like that.

Here’s the thing. You are wrong. There are people that do feel that way or have done that and they want to help you. Join the Facebook Group Paying for Adoption and join a community that wants to help you reach your goal of adopting a child into your family. Receive encouragement and motivation from a group of people that are on the same path or have been on that path. 

Join the Paying for Adoption Facebook group to receive motivation from others on their financial journey towards adoption. Having a community that understands where you are at in life is key to success.

Finalize Adoption

You’ve set up your spending plan, created a plan to make the money, tracked the money, and stayed focused on your end result. You are now on your way towards a financially stress-free adoption!

Every successful journey starts with laying a solid foundation. Family Money Coaching wants to help you build that solid foundation. Check out the Preparing Financially for Adoption Course, the Adoption and Fertility Grant Success Course, and resources on the podcast The Adoption and Fertility Finance Show. You know your destination, let us help you map out the financial route towards your adoption.

Laura Coleman, AFC®

Laura Coleman in an Accredited Financial Counselor with 20 years experience in the financial industry. She is an adopted mom of 3 beautiful children. She is the host of The Adoption and Fertility Finance Show and the admin to the Facebook Group Paying for Adoption.

Leave a Reply

Your email address will not be published.