Here’s Why Millennials Are Reluctant to Start Families — They Simply Can’t Afford It

Growing up as the eldest of four, I cherished the idea of a big family and the close bonds that came with it. I envisioned my future children having similar sibling experiences. However, as I transitioned into adulthood, reality struck hard, much like it has for many millennials.

I never believed that raising children would come without a cost, but I had hoped for a stable job that could support a family and a safe environment to nurture them in. Unfortunately, the resources that sufficed in our parents’ generation simply don’t stretch as far in today’s economy. The truth is, for millennials, the odds are stacked against us.

With higher levels of student debt and fewer job opportunities compared to the baby boomers, millennials face significant financial hurdles. Add to that an inflated housing market, and it feels like we’d have to sacrifice countless brunches just to scrape together a down payment. It’s not that we don’t want kids; it’s that the financial reality makes starting a family seem almost impossible.

The Financial Factors Holding Us Back

So, what’s causing this hesitation among millennials? Financial stability, furthering our education, and career aspirations are major factors influencing our family planning decisions. According to the CDC, the U.S. birthrate dropped by 4% in 2020, a decline that many attribute to the uncertainties brought on by the pandemic and ongoing economic turmoil. Beyond that, there are numerous other reasons for the delay or complete avoidance of family planning.

In today’s world, a college or advanced degree is often a prerequisite for decent-paying jobs—jobs that barely cover the cost of the student loans we incurred to attain that education. Even when we finally secure that “dream job” (which feels more like a myth most days), we often find ourselves chained to our desks, leaving little time for family life.

While money doesn’t guarantee happiness, it certainly plays a crucial role when it comes to raising a family. We lack the time to nurture a family (thanks to our demanding jobs), and we also struggle with limited resources—think diapers, mortgages, and student loan payments. And let’s not even get started on suggestions from well-meaning, yet out-of-touch boomers about staying home or hiring nannies.

What Millennials Truly Need

“Just stop buying avocado toast,” they say, as if that’s the solution to our financial woes. But here’s a radical idea: increase wages to a livable standard and provide access to affordable childcare for all families, not just those who work multiple jobs to afford daycare.

It’s frustrating to hear constant inquiries about why you haven’t settled down yet, especially when the challenges of modern life make that decision incredibly complicated.

Moreover, women are facing an even steeper uphill battle. The gender pay gap still exists, and working mothers often find themselves overlooked for career advancements compared to their male colleagues. This “motherhood tax” in corporate America is a critical issue that needs addressing.

Ultimately, we want to provide safe, secure, and affordable living conditions for our future children. Until systemic changes are made to make that attainable, don’t expect us to rush into starting families.

For more insights on this topic, check out this other blog post. If you’re looking for ways to boost your fertility, consider visiting this resource for valuable information. Additionally, Women’s Health offers excellent resources for pregnancy and home insemination.

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In summary, millennials are hesitant to start families largely due to financial constraints, the burden of student debt, and a demanding job market. As a generation, we’re not opposed to having children; we simply need the resources and support to do so. Until significant changes occur in the economy and workplace, starting a family remains a daunting prospect for many of us.