The decision to become a parent is certainly a big one and for many intended parents, it requires an additional financial step or investment. From surrogacy to fertility treatments, each has substantial financial planning involved. This guide will help you understand the most important aspects of financial planning for intended parents so that you’re better equipped for the surrogacy journey ahead.

Knowing the Costs Involved in Surrogacy in Georgia

1. First, intended parents must understand the various costs associated with the surrogacy process in Georgia. The expenses can differ significantly depending on the route you choose to build your surrogacy., Expenses can vary significantly.
2. Surrogacy can cost you anywhere between $90,000 to $150,000 or more in the United States. It may include surrogate compensation, medical and attorney fees, and also partially some agency fees. Meanwhile, in Georgia, it typically ranges between $40,000 to $60,000. Contact us at Aurora-Georgia for surrogacy costs in Georgia.
3. Fertility Treatments – The costs associated with fertility treatments are the most expensive. In vitro fertilization alone ranges from $12,000 to $15,000 per cycle in the USA, not including medications, genetic testing, and treatments. It costs less than $5,000 in India and it costs just between $8,000 to $12,000 in Georgia. Know from the very beginning the cost of it all and you’ll be able to plan realistic financial goals and the proper timeline for this process.

Creating a Budget and Savings Plan towards Surrogacy in Georgia

1. After you get an overview of what the costs are, put a budget plan together. Begin by knowing where you stand with your money right now. How much savings do you currently have? What are your monthly living expenses? Can you cut out some not-so-essential expenses for greater savings?
2. It is advisable to have an emergency fund before embarking on any serious financial commitment for your surrogacy journey. The emergency fund should accommodate at least three to six months of living expenses, to be used in a genuine emergency.
3. Save Money: Identify areas in which you can reduce expenditure. It could be eating out less frequently, cutting down on discretionary spending, or even lowering the square footage of the house you currently live in. Every dollar saved brings you a dollar closer to your goal.

Financing Options for Surrogacy

Despite having a good financial plan, the costs that go into building a family may require additional financing. There are several financing options available to prospective parents.

•  Loans: Certain financial institutions may offer loans exclusively for surrogacy, or fertility treatments. Though it may help close the gap, one will need to be very mindful of the interest rates and repayment conditions.
• Crowdfunding: Many hopeful parents have been able to crowdsource for their family-building journey. Sharing your personal story generally on public platforms is, at times, may be helpful to crowdfund surrogacy from friends, family, and even strangers. 
• Employer Benefits: An intended parent can also check with his/her employer to find out if their businesses provide any benefits on fertility treatment. Some businesses provide financial help, while others might have paid leaves or other measures for support.

Importance of Emotional and Financial Support

The surrogacy journey can be an emotional rollercoaster and costly for the intended parents. It will have to do with surrounding a potential parent with other means, which include friends and family, even financial advisors and counselors

1. Financial Advisors: Hire the services of a financial advisor who could also help in drafting a holistic plan based on requirements. They would help you find ways to save, invest, or even get out of debt.
2. Counseling: It could be emotionally tiring to plan out everything about finance. A family planning counselor would be just the person who would need to help you throughout the journey to help you in the emotional upheaval that might come your way in the process.

Long-Term Financial Planning After Becoming Parents Through Surrogacy

Long-term financial planning will start once you become a parent through surrogacy.

• Education Savings: It doesn’t hurt to start early planning for a child’s education. One may look at opening an investment account or other education savings account, which may garner tax breaks.
•  Life Insurance: With this level of long-term financial planning, you will have adequate life insurance coverage to protect your family in case of unexpected events. Term life insurance is often an affordable option for young families.
• Retirement Planning: As one builds a family, the focus should not be taken away from retirement. There can be a continuous input of money towards the retirement kitty, and, if possible, the savings can be increased as the finances increase.

Conclusion                                           

The financial planning that a would-be parent has to go through is replete with complicated choices and strategic thinking. With this, you can only confidently walk down the path if you truly understand the costs involved in making a budget, looking at financing options, and legal and insurance measures needed to cover your investment. Of course, an important part of this is not just the financial side, but proper planning for support and long-term issues. Proper planning and support let you focus on the things that matter: giving a warm welcome to your new addition to the family.

Call us today to learn how  Aurora-Georgia can help you in building your dream family through surrogacy. Let’s build your family and make your dreams of becoming a parent a reality.