Parenthood versus the Childfree Life Part I

Laura Carroll, Childfree Choice

A contributor to this blog forwarded an article to me recently that appeared in Sydney, Australia’s, The Sun Herald. It did not appear online.  It’s titled, “Do children really make us happy? Alison Cameron compares parenthood with a childfree life.” Author Alison Cameron spoke to Australian parents, the childfree, and looked at international research to find out who are the “winner and losers,” parents or childfree, in five different areas.  The next five posts will take each area one at a time.  First, the quoted content from Cameron’s article.  The first area: Money.

From the article: It seems like a no brainer that children are money vacuums. From the first purchase of the pregnancy bible, What to Expect When You’re Expecting on, the bills just keep coming. According to 2007 figures from the National Center for Social and Economic Funding, its costs the typical Australian family $357,000 to raise a child from birth to the age of 21. If parents choose private education, the cost skyrockets. The Australian Scholarships Group estimates that 12 years of schooling for a child born in 2010 will cost between $110,000 and $424,000, depending on the school.

But not everyone agrees. Research released in March 2008 from the Curtin University of Technology compared the wealth of parents and the childfree (including housing, shares, superannuation <401ks and the like>, and savings), and found that parents were only marginally worse off.

Associate professor Mike Dockery, who produced the research, says it might be wrong to think of children as costs when in fact they are a net benefit. “If you choose to have children and it works out, then you are better off than if you didn’t have them.”

From what I have learned from talking to hundreds of childfree, I would agree that childfree do not necessarily have more wealth than parents. Socioeconomic status spans a wide range.  Professor Dockery’s logic, regarding the net benefit of children, however, I question.  If you have them, and you enjoy the process of parenting that is a benefit. But you would not know the benefits of a childfree life to figure out whether there would have been more benefit had you made that decision. There are benefits with each decision, but “benefit” is also in the eye of the beholder.

Do the childfree feel less pressure to earn? I am not so sure. We don’t have the costs of raising a child, but that does not mean we don’t feel pressure to earn income.  In today economic times, children or not, many people feel financial pressures.  Everyone has their own relationship to money, too. Some people put pressure on themselves to earn more whether they have kids or not. It may be because they have goals that need money to attain them, to save for retirement, or it may be a desire for social status, or a need to feel they have “made it.”  The reason we can pressure ourselves to earn income can stem from a variety of motivations.

What do you think? Are the childfree more often than not wealthier than parents? Do we necessarily have more financial freedom because we don’t have kids?

3 thoughts on “Parenthood versus the Childfree Life Part I

  1. Being childfree can surely enable someone to retire early, which is what happened to me in late 2008 when I was 45. Not wanting to have kids was the biggest reason I was able to LBYM and put money away for an early retirement. It is the ultimate freedom.

    If you look at some of the many early retirement websites and blogs, you will find a great many people who are striving to ER or who have already done so are shildfree. Sure, you can ER if you have kids, but it is much tougher and can’t be done as early as it could have been had they been childfree.

    While we childfree have to often suffer bingos and other types of scorn from the childed, I would say the same thing they say to us when they talk about how tough it is to raise kids: “It is all worth it!”

    1. Here is a post that talks about childfree ER (early retirement) and Deegee’s story on this:
      Indeed, being CF creates more potential for ER. Deegee, in addition to being CF, you also really had a plan and and commitment to the execution of that plan to get to ER…not something a lot of people do with kids or not. The timing of retirement also depends on the kind of lifestyle one wants when s/he does retire. I have also found that in watching the lives of CF that they have more freedom along the way to retirement to do the things they have always wanted to do, whether they be personal or work experiences — they don’t necessarly have to save these kkind of experiences for “when the retire.” ~L

  2. That is an interesting question and the answer to that is very individual. I am 31 years old, childfree and not really feeling so well-off at this point. 🙂 Having been on disability from work for over a year due to a chronic illness was just another reminder that there are no guarantees in life, children or no children.

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