Almost half of Gen-Z don't want to have kids, finds research

Almost half of Generation Z have confessed that they don’t want to have kids - with one in three wanting to spend money on themselves rather than a child. New research carried out by CashLady.com has lifted the lid on 18-24 year olds opinions on having children, and how much the current economy is to blame.

Results revealed that 46 per cent of Gen-Zers don’t plan on having kids, compared to just 37 per cent who are and 17 per cent who are undecided. More than half of the participants confessed that the cost of living makes them concerned about starting a family, that they’ll never be financially secure enough to have children and would rather spend the money on themselves.

When quizzed about what they’d rather spend their money on than children, the most popular answer was their image - including clothes, beauty treatments and makeup. Another top priority was spending money on entertainment, such as nights out, day trips and eating out.

Only three per cent of respondents said that they would prefer to spend the money on purchasing their own home.

What would you prefer to spend your money on instead of raising children?	Rank
Image (clothes, beauty treatments, make-up)	1
Entertainment (Nights out, day trips, eating out)	2
Holidays and Travel	=3
Homeware and Garden Furniture	=3
A car	4
A house	5

However, out of all the reasons to choose not to have children, the environmental impact ranked as number one.

Statement	Percentage of participants who agreed
I have concerns about the environmental impact of having children	43%
I worry about the responsibility involved with having children	39%
I want to spend time on myself rather than children	37%
I want to spend money on myself instead	33%
I don’t like children	20%

Commenting on the findings, Paul Wilson, Personal Finance Expert at CashLady.com, said: “It’s a true sign of the times to see that fewer Gen-Zers are planning on having children than those that are. And in the modern world, all of the reasons given through this research are completely understandable.

“With the cost of living rising, it’s not surprising that Gen-Z feel like they need to prioritise themselves and their own happiness. The fact that most young people have numerous financial concerns about having children, many of which are putting them off the idea entirely, is a real shame. The cost of living, particularly for renters, is higher than ever, so it’s no surprise that Gen-Z don’t feel that they can fund a little one when it’s a struggle to fund themselves in the current landscape as it is.”

The survey data of 2,000 participants was conducted by FCA-regulated credit broker, CashLady.com, to find out more about Brits' attitudes towards having children in the future.

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