Don't Go Into Debt For Adoption

Leah wonders if it’s wise to take out an interest-free adoption loan. They’ve already exhausted the grant routes and have been on the waiting list for a child for a year.

QUESTION: Leah in Los Angeles wonders if it’s wise to take out an interest-free adoption loan. They’ve already exhausted the grant routes and have been on the waiting list for a child for a year. Dave doesn’t recommend that Leah borrow money to adopt.

ANSWER: I think adoption is one of the most beautiful things that can happen. I’m a huge fan of the concept. I have lots of friends who are adoptive parents. I think it’s very important. It’s a good thing to do, and I think it’s something you’re called to do. Obviously, you can give a child a great home.

I have a rule in my life that I don’t borrow money. You said your husband is a pastor. I read Proverbs 22:7 that says the borrower is slave to the lender. I’m not going to be slave to anyone but Jesus. I don’t borrow money. What would I do if I were in your shoes? I guess I’d have to work two extra jobs to save up the money. Or I’d have to look around and sell something because I’m going to pay cash. I would pay cash, or I wouldn’t do it, and that’s having said how important I think adoption is.

What I typically see with a suggestion like you’re bringing to the table is people don’t follow through. The debt doesn’t get cleaned up. You’ll call me back, the kid is 10 years old, and you’ve still got this mess. I meet people in these situations all the time. They’re well-intentioned and didn’t see the downside of thousands of dollars in debt. It just puts you into a mess. I can’t recommend it. I can recommend you deliver pizzas for a year four or five nights a week. If you do that, you’ll have $18,000 because the typical pizza delivery person will make $1,000 or $1,500 a month.

It’s very important that you do this, but you’re going to have to sacrifice to do it.

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