Report finds many young people are worried they can’t afford children
by EMILY VOLZ, NBC 10 NEWS
(WJAR) — The birth rate in the U.S. has dropped to its lowest rate in history, according to the CDC.
The cost of raising a child is likely a big factor.
A new study from BadCredit.org finds more than half of young people are delaying having kids.
When you ask those young people why, a whopping 86% of them say they’re worried they can’t afford a baby.
“Nearly three in four – 71% – are concerned about daycare and childcare costs,” said Emily Fanous, a spokesperson for BadCredit.org. “So even before having children – you know, young people in this country are thinking about what’s it going to cost me in 10 months from now? A year from now?”
She continued, “The cost of childcare is top of mind.”
Especially in Southern New England.
A report from Child Care Aware of America finds Rhode Islanders are paying nearly $17,000 a year, on average, to send one infant to daycare.
In Massachusetts, that number soars to $24,000.
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This survey also found that Gen Z and Millennials are really concerned about how a child could impact their careers.
“49% of young people surveyed said that they believed that having children would actually negatively impact their careers, which is really interesting to look at and think about moving forward, especially for working moms,” explained Fanous. “31% also said that they feel pressure to not only have children, but also prioritize their career.”
She continued, “We’re putting a lot on young people of all genders on focusing on careers but also then thinking about having children – there’s a lot of pressure coming from both ways and from our survey, we know that they’re feeling that pressure.”
Lifestyle also plays a big role in the decision not to have children.
The survey showed that 48% of respondents aren’t willing to change certain aspects of their current lifestyle in order to have children.