Just over half of the moms surveyed have started saving for their children’s future and another 40 percent are planning to do so. “Starting with the Sunday papers, where 80 percent of the best coupons still lurk, and then branching out into the Internet can save you $1,000 a year.”Įducation is moms’ number one financial worry. “Spend just 15 or 20 minutes per week couponing,” says Chatzky. Moms are paying close attention to bargains and using coupons to pay for family expenses. The use of coupons among moms has increased nearly 30 percent over the past four years. “Moms contemplating cutting back or leaving work altogether should practice living on one income beforehand and also use Bab圜’s Cost Calculator as well as my budget worksheet to determine if it’s realistic.” Opting to transition from two incomes to one is another question entirely,” says Chatzky. We all know the landscape of the work force is changing, with one-third of moms being the primary breadwinner in their household, but are moms happy? A whopping 63 percent of moms would work less and take the pay cut if they could, while 59 percent would stop working completely in order to spend more time with their children. If parents budget and plan accordingly, they don’t need to sacrifice having a family,” she says. “The recession is no reason not to have children. It’s no surprise that the decision of whether to have a baby is becoming increasingly overwhelming, according to Chatzky. Department of Agriculture that a middle-income family could spend an average of $226,920 to raise a child born in 2010 to age 18, not including college. Most are planning to have two children but would have three if they could afford it.Īdding to the fears of moms who are raising the Recession Generation is the recently released figure by the U.S. Money concerns are strong – a staggering 2 out of 3 moms say it will affect how many children they have. The report revealed several surprising trends, among them:Īccording to the survey, 43 percent of moms waited to start or expand their family until they felt financially stable and 61 percent of moms are worried about not having enough money to raise their children. More than 1,000 Bab圜enter moms completed the survey, candidly answering questions about their finances, how money impacts their decision to have children, if they would save for retirement over their kids’ college education, and more.
Recession Generation kids are used to a lifestyle where there are more moms in the workforce, smaller family sizes, and frugal shopping as a result of parents’ financial fears.” “Bab圜enter’s new study has identified what they are calling the ‘Recession Generation,’ kids who are born today into a world that is much different than just a few years ago. “A common stressor for new parents has always been providing for their children financially, but combine that existing fear with a weak economy, and you’ve got more concern than ever before,” says Jean Chatzky, financial expert and Bab圜 contributor. Deciding to have a baby is a big decision for couples and waiting until the time is right is important, but if a couple is waiting until they think they can afford a baby, they may be waiting longer than expected. Cost of Raising a Child report, which reveals interesting insights into the mindset of today’s new and expectant parents, especially given the current state of the economy. (San Francisco) – Aug– Bab圜, the #1 pregnancy and parenting destination worldwide, today released its 2011 U.S.
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