Kids are expensive and single, child-free women are taking note.
Latest data from the Federal Reserve Bank of St. Louis showed that single women without kids pocketed $65,000 more in wealth in 2019 than single, child-free men, who has an of $57,000. Single moms, alternatively, had only $7,000.
That is unsurprising since on average, it takes about $286,000/12 months to lift two children within the US according to the USDA as reported by Bankrate. These staggering figures, together with improved sex education and more financial independence amongst women, may correlate to the drop in US births.
On average, fertility rates within the U.S. have been steadily decreasing even before the pandemic, and the Census Bureau said that trend is continuous.
In 1990, about 70.77 births happened annually for each 1,000 women between 15-44. By 2019, that number dropped to about 58.21 births per 1,000 women in that age group.
Although this drop in population is probably not excellent news for economists studying the long run of our workforce, it might be music to single women’s ears.
As Bloomberg notes, being child-free and single leave women with significantly more of their purses, and more life autonomy.
In an interview with the outlet, Latest York-based 43-year-old Ashley Marrero said that her relationship-status allows her to do what brings her probably the most joy, travel the world.
“[Not having children] should don’t have anything to do together with your happiness,” Marrero told Bloomberg. “You may be so joyful going this route, too.”
One other woman who spoke with the outlet, Anna Dickenson, 41, says being child-free allows her to nurture the opposite necessary relationships in her life, guilt-free.
“I’d moderately regret not having kids than regret having them.”
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