As the cost of raising children in America climbs toward the $300,000 mark per kid, more parents are allegedly choosing to have fewer kids or refusing to start a family whatsoever.
A new LendingTree survey reveals that 46% of parents with young children say financial stress has directly influenced how many kids they decided to have.
Another alarming statistic from the study says that 77% of parents said the actual cost of raising children far exceeded their plans or financial expectations.
Over the last two years alone, the average annual cost of raising a young child has jumped 36% overall, going up from $21,681 to $29,419 on average annual estimated costs. Much of that increase is apparently being driven by skyrocketing daycare expenses, which have spiked more than 50% during that same period.
Those rising prices are leaving many American families stretched thin. According to the survey, 64% of parents say they’ve gone into debt just to meet their children’s basic needs.
The long-term financial impact doesn’t end at the age of 18, either. A separate report from Savings.com found that half of all parents are still financially supporting their adult children well into their 20s.
With the U.S. fertility rate hovering near historic low records, outlined in a 2024 study from the CDC, the baby-bearing issue has drawn the attention of the Trump administration. According to The New York Times, the White House is now weighing out the idea of a $5,000 “baby bonus” for new mothers to encourage or incentivize childbirth nationwide. Another proposal would allocate 30% of Fulbright scholarships to married applicants or parents, hoping to alleviate financial worries.
When asked what would help ease the burden of raising children, a majority of parents pointed to better financial support. Over half said more money would make the biggest difference, followed by 39% who cited more workplace flexibility and 28% who called for affordable daycare or schooling options.
The LendingTree survey polled 630 parents of children in early March of 2025, showing a trending pattern: for many American families, the decision to grow their family is increasingly dictated, or even blocked, by what’s in the bank.