Has having kids become a luxury purchase?

In an era of financial strain, the decision to have children has become increasingly scrutinized as a luxury. A recent Credit Karma survey of 629 adults aged 18 to 45 revealed that 68% found raising kids financially out of reach, with 71% expecting to postpone or forgo family expansion due to economic concerns. The average cost of raising a child from infancy to 18 in the U.S. is $303,418, a 2% increase from 2025 estimates.

Tackling this expense alongside high debt levels, averaging over $27,000 among Gen Z Credit Karma members, contributes to the hesitance surrounding parenthood.

To navigate these costs, families are employing various strategies. Some delay having children until financially prepared, while others space children further apart to avoid overlapping daycare expenses. However, many choose to have children despite the financial burden, pausing savings temporarily until they regain stability. For some, the choice ultimately comes down to affordability, as the decision to have children is no longer a lifestyle preference but rather a financially feasible option.