Saturday, April 26, 2008

Finances

We estimate it will cost us around $25,000 to bring our son home. This includes the adoption and travel costs. We have been praying and talking a lot about when we should start the process. We have agreed we need to wait to start until we have $10,000 saved. Simon will finish school in June and start working full time then, that will increase our savings ability drastically. After the baby comes home, we will also need to buy a bigger car and will be paying for full time daycare for an infant. All of these things considered, we feel most comfortable if we have that much money up front. Although there are many resources to finance adoption, we would prefer to do this with little or no debt. We will also get the adoption credit (about $11,000) over 5 years, but this will help with other costs of raising another child. With that said, I have added a saving counter to our page to track our progress. This is a huge challenge in our journey!

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