A growing number of Gen Z and Millennials are putting off the idea of having children, with many saying the financial strain is just too much.
According to a new survey from Care.com, only 30% of adults aged 18 to 44 say they definitely want kids.
Meanwhile, 44% either aren’t sure or say they don’t want children at all.
Childcare Costs Are a Major Factor
In an interview with Yahoo Finance, Care.com CEO Brad Wilson said, “Forty percent of household expenses today go to caregiving, 22% go to child care alone.”
He added that the cost of child care has risen by about 260% over the past decade, far outpacing standard inflation.
This price hike isn’t just a wallet issue, it’s taking a toll on mental health.
Wilson noted that “90% of parents are reporting losing sleep” due to care responsibilities and almost 30% have “considered self-harm.”
Wilson also pointed out that access to affordable child care has worsened, especially after COVID-era shutdowns.
Many daycare centers closed, and while Care.com has seen growth in in-home caregiving, finding quality, affordable care remains tough for most families.
Government Efforts Still Fall Short
While lawmakers are starting to respond, Wilson said current efforts don’t fully address the depth of the issue.
“We want to applaud the administration, it is definitely on their radar,” Wilson said.
But he emphasized that what’s needed is a mindset shift: seeing child care as a public investment, not just a private cost.
He noted that the Child and Dependent Care Tax Credit (CDCTC) is the only mechanism directly aimed at helping parents pay for child care.
Recent proposals to raise the child care tax credit from $2,000 to $2,500 are a start, but Wilson believes much more is needed.
A Call for Long-Term Solutions
Care.com is advocating for ideas like a “Working Family Savings Plan,” a pre-tax savings account that would function like a 401(k), specifically for child care expenses.
The funds could follow a parent from job to job.
Wilson stressed that caregiving isn’t just a child care issue. Families often juggle multiple caregiving roles at once, from kids to aging relatives and even pets.
“Most families have five caregiving occasions in their home at any given time,” he said.
One concerning statistic he shared: by 2034, the U.S. is projected to have more seniors than children.
What’s Happening Beyond the Costs
Beyond money, Wilson believes society has drifted away from the community support that used to make family life more manageable.
“We are much more transient than ever before, so we lose a sense of that,” he said, referencing the idea that neighbors, friends, and extended family once played a bigger role in raising kids.
Younger people are looking at both the money and stress involved with raising kids and starting to question if the way we think about family life still makes sense today.
For many, it’s not just about whether they can afford to have children; it’s about whether the support systems exist to help raise them well.
Until child care is more affordable, mental health burdens are reduced, and communities become more connected, many will continue to delay or avoid parenthood altogether.