United States – According to a survey from MassMutual, close to 1 in 4 childless Americans in the young generation are child-free by choice, and money is the main reason they are giving, as reported by The Hills.
Citing Money as the Main Reason
According to the Tuesday survey, financial concerns have led 23 percent of millennials and Generation Z Americans to take a stand not to have children in the future. Among the respondents who indicated that they are not planning to have kids, 31 percent cited that it is because of the political and social world that their children would alternatively grow up in.
The CDC released data this August, which revealed that births in the U. S. declined once more between the period of 2022 and 2023. The data obtained from the CDC also shows that the U. S birth rate has decreased by almost 23 percent for the period of 2007 to 2022.
The same survey conducted by MassMutual also showed that the inability to care for kids and love money was on par with the reasons why people do not have children (43 percent).
Financial Stability Prioritized Over Parenthood
“With today’s financial stressors, it is understandable why there is a growing trend among young adults to prioritize financial security over parenthood,” Paul LaPiana, head of brand, product and affiliated distribution with MassMutual, said in a statement. “This shift reflects a broader understanding of the importance of financial stability and independence in achieving long-term goals that every generation must reckon with.”
Rising Costs of Raising Children
A survey conducted by the Pew Research Center in the United States of America in July of this year revealed that approximately 47 percent of the population of learners and young employees who are below the age of 50 years will probably not have children in the future. It takes approximately $22,000 to raise a child in the country, based on the survey that LendingTree, a lending market company, released in the year 2018. Trends indicate that the cost of childbirth has tripled currently as compared to before, as reported by The Hills.
The MassMutual poll also revealed that nearly half of respondents, 51 percent to be precise, admitted to being worried over not being financially able to financially provide for their children. According to the survey, food accounted for 57% of child related costs while clothing was 51%.