Americans Are Having Fewer Kids Due to Money Concerns, Survey by LendingTree Reveals
Financial Challenges Facing Parents
According to a recent LendingTree survey, almost half (46 percent) of parents with young children said they have fewer kids due to financial constraints. Furthermore, 77 percent reported that raising children has been far more expensive than they expected.
Rising Costs of Raising a Child
Those challenges aren't imagined. Over the past two years, the annual cost of raising a small child has surged from $21,681 to $29,419—a 36 percent jump, LendingTree found. Much of that increase is due to skyrocketing daycare costs, which rose more than 50 percent over the same period.
The Financial Impact on Families
Parents in the U.S. can now expect to spend $297,674 raising a child to adulthood—and financial support often doesn't end there. A recent Savings.com report found that half of all parents are providing regular financial assistance to their adult children.
Debt and Fertility Rates
Perhaps most alarming, about two-thirds (64 percent) of parents surveyed by LendingTree admitted to having gone into debt to make ends meet for their kids. Financial strain appears to be a key reason Americans are having fewer children.
Government Proposals and Parental Support
Recent CDC data shows that the U.S. fertility rate remained near a record low in 2024. In light of this trend, President Trump is reportedly considering a $5,000 cash "baby bonus" for new mothers. Another proposal, according to The New York Times, would reserve 30 percent of scholarships in the prestigious Fulbright program for applicants who are married or have children.
What Parents Need
When asked which factors could make raising kids easier, many parents (52 percent) cited more financial resources, followed by 39 percent wanting workplace flexibility like paid leave and remote work. Some 28 percent emphasized that affordable childcare would alleviate their challenges.
LendingTree's findings come from an online survey of 630 parents with kids younger than 18, conducted from March 4-6.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.