Although this may be surprising to some, not every person and/or couple wants to have kids. Some people aren’t interested in taking on the extra work that kids require. Others don’t want the financial responsibility associated with children. There are financial benefits of not having kids, for instance, choosing not to have children means not having to pay for a child’s (or children’s) birth, day-to-day expenses or college. Over an individual’s lifetime, this can add up to a significant amount of money. Some people choose not to take on such expenses because they don’t have the money to, others simply because they would rather not.
Financial Benefits of Not Having Kids
No Birthing Expenses: Having a baby delivered isn’t cheap. In fact, it cost a significant amount of money to do so. This is especially true if a person doesn’t have insurance. Those that do not can expect to pay between $9,000 (vaginal delivery) and $15,000 (Cesarean Section). If complications arise, they may end up paying much more.
Delivery costs for someone with insurance is significantly less. However, most insurance plans will require that the insured pay some sort of co-pay. This could end up being several thousand dollars. A person or couple who decides not to have a baby wouldn’t be saddled with this expense. This is in addition to pre-natal care, diapers, formulas, clothes, toys, etc.
No Day-to-Day Expenses; It costs money to raise children. The day-to-day expenses, like daycare can be prohibitive. Parents have to pay for food, clothes and other essentials which can quickly add up, especially if a person has more than one child. Individuals with multiple children would see these costs multiplied by the number of children they have.
No College Expenses: College is becoming increasingly expensive. In fact, it is becoming so costly, that many parents cannot afford it. Many parents can’t afford to send their child to a four-year college. Instead, they can only send them to a junior or community college because they can’t afford anything else. Some parents can’t afford to send their child to any type of college.
There is often an assumption that every person wants kids. This couldn’t be further from the truth. There are many people who decide against having children. Some do so because of financial reasons. The financial benefits of not having kids are pretty substantial. Adults that decide not to have children don’t have to pay for the day-to-day expenses associated with having children or for college. Over the course of a person’s life, this can add up to a substantial amount of money.
While many people would be outraged at considering the financial trade-offs of not having kids, it is a simple fact that not having children allows you to do things that you might not otherwise be able to do. This can includes traveling, like a Caribbean cruise, trips to Hawaii, or other vacation ideas.
Have you ever considered the financial benefits of not having kids? Would this affect your decision?