More and more Millennials are deciding to wait to have kids, or not have kids at all. This option is partly financial. Having kids can increase a couple’s costs by 10% to 20%.
In the USA, a middle to high-income couple can expect to spend anywhere from $284,570 to $454,770 on a child from birth to age 17, according to the research completed by the United States Department of Agriculture in 2015.
There are a many reasons this trend is increase in popularity, and a number of upsides for couples who choose to live the kid-free lifestyle.
Every couple who makes the decision to have or not have children has their own personal reasons. I will not go into all of yours in this post, but we have many valid reasons to not have our own children. I think more people should consider before procreating, and the world would be a better place. Okay, sorry… but this topic trully puts me on the offense. :)
From a financial angle, the option to not have children automatically meant the people had more money to spend, but so far they have been conscious to not overstep their financial bounds. Your incomes are not regular, so you have to ensure that there is regular money flow each month. While this may seem like a conscious financial decision, you like to be judicious with money.
This couple is not the norm, but an exception. According to some finance experts, the truth that there is more money, and lesser responsibility makes ‘dink’ families predisposed to overspending. Overstretching the budget, in fact, is the most general trap that many dink families fall into. The other mistakes would be to not think about long-term targets like retirement, not have an emergency cash and to not think about estate planning.
Overall, human recently seem to be busier and swept by the roll of industrial life. It is one of several reasons why the DINK lifestyle becomes a widespread trend in some developed countries. This lifestyle brings both benefits and risks to DINK couples as well as the society. It is said that each family is the cell of society; thus, a childless family is not a complete family, and it is just like 2 mates living with each other. Thus, to create a prosperous society, a positive family with kids is an ideal answer. (You can have other opinion)