According to a recent survey by LendingTree, nearly half (46%) of American parents with young children say they have reduced childbirth due to economic pressure. 77% of respondents stated that the cost of raising children far exceeds expectations.
LendingTree data shows that over the past two years in the United States, the annual cost of raising a young child has soared from $21,681 to $29,419, an increase of 36%. The majority of this increase is attributed to a sharp rise in childcare costs, which have risen by over 50% during the same period.
American parents now expect to spend $297,674 to raise a child to adulthood – and financial support often does not end there. A recent report from Savings.com indicates that half of parents are providing regular financial assistance to their adult children.
What is most concerning is that about two-thirds (64%) of parents surveyed by LendingTree said they are in debt to maintain their household finances. Financial pressure appears to be a key contributing factor to the declining birth rate in the United States.
The latest data from the Centers for Disease Control and Prevention (CDC) shows that in 2024, the birth rate in the United States remained close to historically low levels.
According to LendingTree’s survey, when asked what factors would make raising children easier, 52% of parents said “more financial resources”; followed by 39% who wanted job flexibility, such as paid leave and remote work; and approximately 28% said affordable childcare services would make raising children easier.
The survey results from LendingTree were based on an online survey of 630 parents with children under the age of 18 conducted from March 4th to 6th.
For years, demographers in the United States have been concerned about the trend of declining birth rates, with the Trump administration paying particular attention to this issue.
As reported by ABC, while the birth rate in the United States has been declining for several years, external groups focused on increasing the country’s birth rate have been advising the White House to encourage people to marry and have children. One proposal submitted to White House advisors is to provide a $5,000 “baby bonus” to every American mother who gives birth.
White House Press Secretary Karoline Leavit told ABC that Trump is taking significant action to leave a better country for the next generation.
On the afternoon of April 22nd, the media asked Trump whether he was considering providing $5,000 in cash for mothers giving birth. Trump briefly replied, saying, “That sounds like a good idea.”
In Japan, the birth rate has also been steadily declining, with the number of births in 2024 reaching only 720,000, the lowest level in 125 years. To reverse this trend, the Japanese government has implemented various incentive measures, including increasing childcare subsidies, expanding childcare services, and promoting paternity leave. However, the actual effectiveness of these policies has been limited, as the birth rate continues to decline and fails to meet the desired targets.
(This article references reports from “The Hill”)