Millennial parents dream of a golden age gap between kids. It comes with a catch.

Millennial parents often dream of a significant age gap between their children, but this desire comes with financial challenges. Kristin Darnell, for example, had her first child at 34, and initially planned to have her second child two years later. However, the high cost of childcare for two children at once proved to be a major concern.

Even though Darnell works in ingredient sales and her husband is an engineer, they found the expense to be astronomical, regardless of their professions. Darnell and her husband eventually welcomed their second child later through IUI, resulting in a three-and-a-half-year age gap between their children, who are now 6 and 3 years old.

The author of the article, Business Insider, notes that family planning is often a tricky endeavor, as one's initial plans may change. Darnell, now 40, mentioned in an interview with Business Insider that spacing out her children has helped reduce childcare costs. By having a wider age gap, they spent about $3,000 a month on daycare for both kids, saving around $200 to $300 per month compared to having both children in daycare simultaneously.

Research shows that a majority of young mothers in their 20s expect to have their next child within two to five years, but this figure drops below 10% for mothers in their 30s. Waiting longer between kids can help spread out daycare costs and prevent the need for multiple children in diapers at once. However, as millennials are having children later in life, their hopes for a substantial age gap can clash with declining fertility rates.

For many millennials, the idea of having two children is often hindered by financial constraints. The average cost of daycare for one child can range from $7,600 to $24,000 annually, depending on the state and the child's age. With two children, the average annual cost of daycare exceeds the average mortgage or rent payments in nearly all U.S. states. This can easily surpass $50,000 per year, making it difficult for many parents to afford such high expenses.

Angela Donahue, a millennial parent, experienced this firsthand. She had a four-year age gap between her first and second child and a two-year gap between her second and third child. While she preferred the wider age gap, she ended up having her third child sooner due to concerns about her age. Her first and second children spent about six to nine months in daycare together, but she felt a greater financial strain when her two youngest were in daycare simultaneously.

Donahue mentioned feeling more financially strained with her two youngest in daycare together, as it cost her and her husband roughly $5,000 a month, more than their monthly mortgage payment.