Here is just another thing that the economy affects: how many babies are born and maybe even why.
Many people today are deciding to delay having another baby because of a tough economy. Some feel that they can’t afford another child. In fact, after each depression or recession in U.S. history, birth rates, that is fertility rates have gone down. Sometimes these new rates become the normal. Previous to the Great Depression, for example, the average number of children per woman was three. After the Great Depression, it dropped to two, a number that is usually more “acceptable” for families in modern society. During recessions in the 70s and 80s, fertility rates dropped once again.
So how much does it cost to raise a child? According to the U.S. Department of agriculture, that price is $300,000, not counting college costs or inflation. But, that also doesn’t count in whether the child is a first born, second born, etc., nor does it take into account lifestyle. A person who buys children’s clothing second hand or gets it for free would not spend the same amount as someone who has a nursery closet full of designer clothing. Of course, for someone who may be facing a job loss, having another child may not be the ideal situation. (You can learn more about saving money for your baby at the Frugal Living Blog).
On the other side of the issue is the opinion that many couples are choosing now to have that next baby or even first baby, as they start to slow down and discover that family is important to them. Interestingly enough, although fertility rates are expected to decline (the number of babies being born) rates of couples seeking fertility treatment have not declined, despite the economy. Fertility treatment is expensive, and you might imagine that concerns about the economy may affect it.
Finally, an article on MSNBC proposes that the fertility rate may not decrease, as women who suddenly find themselves jobless decide that this is the right time to transition into having a family.
What do you think? Would the economy affect your decision to have a baby?
Mary Ann Romans writes about everything related to saving money in the Frugal Blog, creating a home in the Home Blog, caring for little ones in the Baby Blog and now relationships in the Marriage Blog. You can read more of her articles by clicking here or subscribe to the blog using the subscription box on the right.
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