By Arlenys Tabare
The cost of living has increased in recent years; Between basic household bills, credit card payments and savings, many families wonder if raising a child in the United States today could strain a budget already stretched thin by high inflation.
Having children is part of fulfilling the long-awaited “American dream,” but the exact economy has led the average household to have financial difficulties, and according to a survey developed by City Institute, A family with children would need at least $145,000 annually to be considered financially secure..
Even the figure to finance the American dream increased in recent years to $5 million dollars, according to a research published by Investopedia, where he revealed that just covering the expenses of a child from childhood to university was around $438,000 in 2025.
Recently, in a LendingTree analysis It was estimated that the average cost of raising a child today, including food, clothing, footwear, education, and child care until adulthood, rose to $16,857 annually, that is, about $303,418 in total for 2026, representing an increase of 2% compared to the previous year.
For Matt Schulz, chief consumer finance analyst at LendingTree, “The cost of raising a child for 18 years has amounted to more than $300,000, and that constant increase puts enormous pressure on Americans’ budgets,” he said in the report.
Many families are currently feeling the great pressure of raising a child amid economic uncertainties; That is why more than 70% of Americans consider having a child today to be more difficult than previous generations, and that last year alone, child care expenses rose to $2,252 a month, according to LendingTree research.
It is for this reason that more and more young millennials and Generation Z say they do not want to have children and relate it mainly to financial concerns, according to the latest MassMutual Consumer Spending and Savings Index.
Paul LaPiana, CFP, director of brand, products and affiliate distribution at MassMutual, noted that “with the current financial stressors, It’s understandable why there is a growing trend among young adults to prioritize financial security over parenthood. “This change reflects a broader understanding of the importance of financial stability and independence in achieving long-term goals that each generation must consider,” he said.
Keep reading:
- It is expensive to have children: almost 1 in 4 millennials and Gen Z do not want to raise
- The mandatory role of men in the drop in birth rates worldwide
- More than 18 million Americans live in households that exceed their budget, study finds
- The US states where it is most expensive to raise a child, according to new analysis
