There’s no doubt that adoption can be pricey. As a hopeful adoptive parent, you understand the costs of adoption. But, you also know that this path to parenthood is right for you, and it makes the steep price worth it in every way. You’re prepared to pay those costs, but that can be a lot harder when the holiday season approaches. So, how do you save for adoption during the holidays?
For families that are considering adoption, it can be tough to focus on saving up for their dream of parenting while living up to expectations from their family, friends and potentially other kids. That’s why we’re here to help! We have created this comprehensive guide that details how to save for adoption during the holiday season.
Here are some useful tips for staying focused on your adoption priorities while taking care of everyone else:
Creating a Personal Budget
While you save for adoption during the holidays, one of the first things you can do is create a personal budget. It can also be helpful to break it down further into monthly and annual budgets. Holiday season aside, it is always important to make a detailed list of what you spend every month and go from there.
After you create this budget, you can look over it and think about where you could be spending less. For instance, what are your monthly subscriptions? Do you need them all, or can you cancel some of them, even on a temporary basis? Do you use these services enough to justify their costs? How much do you eat out every month?
Remember to be realistic about your budget. You’ll want to be somewhat strict, but you don’t want to set impossible standards for yourself. You can create your budget with your monthly income and necessary adoption expenses in mind. By sticking to the budget that you’ve outlined, you can save quite a bit for your adoption while remaining loyal to your holiday obligations.
Making Homemade Gifts for Your Friends and Family
One way that you can cut costs this holiday season is to make homemade gifts. As you may already know, purchasing gifts for all your loved ones at the same time can be pretty taxing on your bank account. Although you might love buying presents for your friends and family, it can be just as meaningful (and even more special) to create something yourself.
When you make a gift for your loved ones, it can feel personal and suited perfectly for them. In fact, they might feel celebrated even more because you created a gift specifically for them. Just as the saying goes, money can’t buy happiness, and that can certainly ring true when it comes to giving gifts.
Resisting the Urge for Impulsive Gift Purchases
Now that the holidays are here, you may feel ready to dive straight into buying gifts for everyone. It’s easy to keep adding things to your cart, but think about the price of each item that you pick up. This can be difficult to do during the holiday season, but you’ll need to resist the urge for impulsive gift purchases.
If you feel the urgent need to buy something quickly, then take a moment to consider why you want to buy this as soon as possible. Think about the price and what you could do with that money instead. Think about other, less expensive gifts that you may be able to buy as an alternative.
Starting an Adoption Fundraiser
Another fantastic way to save up for adoption is to start a fundraiser. For example, you can go to a website like GoFundMe to kick-start your adoption fundraiser at any time. Once you tell your friends and family members that you’re pursuing adoption, you can also let them know about your fundraiser. Your loved ones can make some contributions to it as a gift for the holiday season!
Still, you will need to consider the pros and cons of an adoption fundraiser. Just as adoption fundraisers can be helpful, they can also be controversial for some people. Before you start one, be sure to speak with your partner (if applicable) about their thoughts and feelings. If this is the best option for you both, then you can go ahead and start a fundraiser whenever you feel ready.
Asking for Monetary Gifts
As we mentioned above, your friends and family members can donate to your adoption fundraiser as a holiday present. Following this line of thought, you can also ask for monetary gifts this holiday season. Although money may not be as fun or exciting as a physical gift, it can be a significant boost toward your adoption funds.
We should clarify, though, that you shouldn’t ask for monetary gifts without specifying that it’s for your adoption. Talk with your friends and family about how meaningful this adoption is to you. Let them know before the holiday season, too, so that they can contribute before buying you a different gift altogether.
Talking to a Financial Planner
Although working with a financial planner comes with its own slew of costs, you may find that these costs ultimately pay themselves off. Talking to a financial planner about your adoption budget can be helpful and insightful. Right before the holiday season starts, consulting with a financial planner can be even more helpful because you can factor gift purchases into your decision-making. They can take a look at your finances and make the best plan of action possible for your adoption during the holidays.
Saving Raises, Overtime and Bonuses
Having some extra income for your adoption is always useful. Though it can be tempting to treat yourself with it, it can be much more helpful to put this money toward the adoption. If you are already used to living off your normal income, then you may be surprised how much you can save toward adoption over time.
This can be a lot of information to soak in at once. If you have any questions about budgeting for adoption, then you can fill out our online contact form at any time to get the answers you’ve been searching for. We would love to help you whenever you may need us.