Why Fewer People Are Having Kids Today
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- เผยแพร่เมื่อ 5 ก.ค. 2024
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Does saying yes to babies mean saying no to wealth and retirement? Rachel and George talk about the major money fears stopping Millennials and Gen Zers from starting a family--including the estimated $310,605 price tag per child. 👶💰
In This Episode:
• Smart Money Happy Hour’s new favorite girl dad
• How less babies running around eventually means higher taxes for all of us
• The bizarre pet George co-owned with an ex-girlfriend
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This Week’s Happy Hour Special:
The Mom-to-Be Margarita Mocktail
• 1 ounce fresh lime juice
• 1/2 ounce fresh lemon juice
• 1/4 teaspoon maple syrup
• 1/8 teaspoon pickle juice
• 3 ounces tonic water
• Rock salt (optional)
• Lime wedge (optional)
Want a classic salty margarita rim? Start with a wedge of fresh lime. Swipe it along the rim of your glass. Turn the glass upside down and dip the rim into a plate of rock salt.
Now, we drink! Grab your salted (or unsalted) glass. Add the lime juice, lemon juice, maple syrup and pickle juice. Give it a good stir. Add ice and top with tonic water. Enjoy!
Pull up a chair to the happy hour you wish your friends were having. Mix two money experts with some hot takes and a splash of nostalgia, and you get Rachel Cruze and George Kamel talking unfiltered about what’s going on in the world, pop culture, and how to afford a life you love.
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Thank you all for the sweet, congratulatory comments! Had to let my SMHH peeps be the first to know! ❤
Congratulations!!
Congratulations!!
Congratulations George & Whitney!
congrats on the baby girl! very excited for you
Congrats!
We don’t need more help with childcare in this country; we need more help to enable parents to stay at home and raise their children. And we need a culture and society that is supportive of stay at home parenting and invested in stay at home parenting.
Here is why I haven’t had kids: I spent ten years curing myself of a serious eating disorder. I was not mentally, physically or socially in the place to take care of anyone but myself. Recovery was a full-time job; very worth it but serious consequences came with devoting a decade of my prime years to survival.
Good example! It is true that health considerations are important. That could be mental, emotional, spiritual, relational, and/or physical health. Responsible parents are ideally healthy adults.
God bless you.
@@mauricioh6716 thank you! Much appreciated! I feel blessed to be better and able to enjoy life! That is worth a ton!
Part of it is also higher expectations. I've been told by my own parents that if I can't provide the same quality of living as I had growing up, then I wouldn't be a good parent. Meaning, if I can't afford a single family home, be a stay at home mom and pay for their college. Attaining that lifestyle is much more difficult than it was when my parents were my age.
Oh bull. We made less money, interest rates were higher in the 80’s we worked our asses off
@@katemiller7874 I'm sure you did work hard. But housing is still more expensive than it was 40 years ago and wages haven't kept up with inflation. Average daycare cost is 243.77% higher than it was in 1990. And I would need daycare because my spouse and I both work full time, unlike my parents in the 1980s.
What??? Plenty of good parents don’t have single family houses, pay for college etc. I’m a single parent if 3 and we are just fine.
@@K-sd5so I know it's possible but my parents believe it's not ok for me to "bring down" their grandkids. I.e. have a lower standard of living than what I had growing up. Basically I should have married a millionaire or won the lottery 😅 my parents are just being stuck up and guilt tripping me.
I feel you, it's so hard. Inflation over the past 5 years has been insane. Housing prices DOUBLED in my area going from 200k to 400k. If I had graduated 5 years later, I would not have been able to afford to live in what used to be an affordable town in GA. Groceries are so much more. It's not like incomes doubled within 5 years!!
I liked this discussion but just some honest feedback- I think it's easy to sit and say don't let finances stop you from having kids when you're millionaires. It just feels a little easy for you to say that from where you sit. I still somewhat agree with you but it depends on the circumstances of each person. If you are in deep debt or struggling to afford rent or something, it is a very real consideration.
Agree. Our kid had some needs that weren't expensive, necessarily, but did keep me from working. It's been tight and if we'd still been in debt when we got pregnant, and I couldn't work, we'd still be in debt today four years later.
No Kidding. Not to mention that this country (the US) is very anti-parent. attainable jobs rarely accommodate parents and single moms, and if you can't have a good enough paying job how are you going to afford daycare and more expensive housing in addition to the default costs of raising a kid? It feels impossible.
They didn't deny the fact, "it will cost $300,000 from when they're young up until they're 18".
So that's why they said you need to prepare and budget. They spent like 20 minutes talking about the costs.. you must've missed it.
I think one thing that wasn't talked about is also when we delay in having kids, when you are financially 'stable', it would be much later in your life, health and fertility is a factor.
@@JL-ds1pi spot on.
Yea the more I listened the more these two sounded out of touch with regular people. No doubt they’re rich talking like that
I’m a 30-weeks pregnant mom of a 2 year old and this is one area I totally disagree with the Ramsey show about- “have kids regardless of debt” because I think it totally contradicts what they say about everything else. Oftentimes, daycare is as much, if not more, than a mortgage. We will pay $1,700/mo for daycare for 2 and our mortgage is $1,711/mo. You wouldn’t encourage someone to get a second mortgage, so why are you encouraging people to have children endlessly?
If you don't bring home much more than $1700/month, it might be time to consider staying home for a season. Take in to consideration what it costs to work: day care, professional clothing -- care/upkeep/purchasing, lunches, gas, car maintenance, etc. If you're only bringing home $100/month, is working worth it? (For my family, that's exactly what happened, and so I stayed home with my children. There were some months that were harder than others, but every bit of it was worth it for my family!)
@@PookysMom6 I bring home $5,500/mo excluding my husband’s salary nearly twice mine, so $1,700 doesn’t make or break us. The point is that a lot of people who are already barely scraping by have kids and can’t afford childcare but also can’t afford to stay home, so they shouldn’t be encouraging people to have babies left and right.
@@jill9606 Thank you!!!!!
There’s gatta be a part 2 you guys!
There’s strollers for 2k, and there’s strollers for $100 bucks. Same with car seats, bassinets, cribs and everything else… I think comparing prices and stuff would be super useful for this episode:)
Don’t over spend where you don’t need to! Congrats you guys :)
But ya make sure they are safe.
So true! Spend money on the carseat but it doesn't have to be plush. We spent around $200.
We spent 600$ on child bed that could go from bassinet, to crib, to day bed. (Unfortunately, we didn't give it away soon enough and the kids broke the box spring.) Friends were looking for one and we felt so bad that we couldn't pass it on.
Only spent $100 on clothes.
Every thing else was freely given.
Diapers were our #1 cost. 😢
My husband & I are renting an apartment right now with a toddler and another baby on the way. Our budget is tight but I am happy we are having kids now and not waiting. Kids are a blessing. Congratulations George on your new little one! You will be a great dad.
Yes there’s time to have babies but anytime you can make many
You can raise children for so much less than $1700! We had 4 children when we made less than $30,000 a year, I was a stay at home mom for 12 years. I cooked meals at home, we went to the library and the park for fun. We scrimped and saved but it was worth it. You never get those young years back. ❤
Thank you!!
You received public assistance
your making a bad comparison. We did that too ,but that was back in the earlier 90's and we bought our first home ( house payment $300 month although my interest rate was 11.5%) $45,000. and then a few yrs later sold that home, and bought a home for $94,000 and now the market its worth $450,000.
@@sitka49it still happens now. My husband and I have four (5, 3, 2 and a baby), he is a school teacher, I stay home. We don't do things that cost money - so we do parks, libraries, beaches, and visiting nearby family - we cook at home, our kids wear hand-me-downs, and we only own one car. Where your treasure is, there will your heart be also. It isn't money, it is where our loves lie. Children aren't what people love nowadays.
Awesome show. We have 3 children and money was really tight when they were little because I stayed home with them. They had no idea. They had love and toys and each other. Best years of our lives!
We paid $25,000 in one year just daycare alone
That's insane!! How many kids do y'all have?
The amount of generosity from loving friends and family is amazing when having children, everyone chips in, hand down cloths, big ticket items, pack n plays, swings, toys, etc.
Not my people, except my mom
@novakd1530 In a bubble that includes good people that uplift one another
Novak D - they are speaking from their personal experience. It was the same in our family
I wish that were true for everyone, OP. 😞
That's not the stuff that makes babies expensive. If you have bad insurance (I was blessed that way) it can be very expensive, daycare/nursery school, and don't get me started how crazy playing a sport is. I'm glad my kids wanted music and things like that, I saved thousands.
Congrats George!!!! FYI George, some of the best girl dads are the super buff ones whose hearts melt when their girls are around. Basically a super protector that shows their soft side.
I’m 27 and I feel like a lot of people my age genuinely don’t have a desire to have kids but use money as the scapegoat for not honestly
That, but also people hearing others say that and drinking the fear Kool-Aid. Buying that it HAS to cost that much, they can't have a kid unless they can give it an upper middle class life, they need a purchased home first, each kid needs their own room, they need all the top end safety stuff, etc. More money makes it easier, but 80% of what people sell you as necessary isn't necessary at all
Whatever the excuse is it's still their life and only they get to choose what they want.
I could afford a kid. I have a house and make about 75k a year.
But kids are not a high priority for me. I’ve held off on getting a cat or dog too because they seem like a lot of extra responsibility that I’m not necessarily ready-for. A partner and kids is so much more. 😆
Perhaps I’ll start with my pet first in the next year or so and see how that goes.
having kids in a studio apartment sounds like hell on earth@@TH0KH
Congratulations, George & Whitney! It's going to be fun for everyone to see how you grow as a dad and share your experiences!
Have Dave Ramsey build a daycare center in his business for the working parents that work for him. Congratulations George and Whitney.🎉
I felt bad when a worker got pregnant and he let her go breaking the "no sex" rule. Seemed mean but he is not like that with callers. I guess he separates the two. I do think a daycare is a good idea though.
My physician assistant brother and sister in law asked me to live with them for a few months when the grandma who babysat their 4 and 7 year old had to have quintuple bypass surgery. I mention their jobs so readers know they are ok financially. I work remotely so I was able to stay with them and take grandma's place for a few months. I'm a 43 yr old woman. I love my niece and nephew. When I tell you my experience living with them only reaffirmed my earlier decision to not have kids...... the daily fights about picking up toys and starting the bedtime routine....the screaming about uncomfortable seatbelts.....the silent treatment the parents gave each other when they got mad...... the fights over who was cooking dinner.... oh no..... I love my niece and nephew. It was with joy I fled back to my house and my single child free life when grandma recovered. I don't live alone. I live with peace and quiet. And they are lovely companions who never fail me.
Childcare is by far the biggest culprit, I currently make ~$1,000 a week and pay $467 a week to daycare. It cost more than my mortgage payment.
It's dangerous listening to George and Rachel on public transit. Many times I've had to stop myself from breaking out in laughter.
There was a study that NPR discussed some time ago about the biggest factor that influences the childbirth rate of a society was women’s education level. School, college, university, then starting a career & so on pushes the ages to when women have kids to later. Add that people are getting married later in life, couples will have fewer years to get pregnant & have kids (without the risk of age-related pregnancy complications) which results in fewer children being born.
Yea they didnt mention most of this at all. Good info
Good point. I remember reading about that study.
Was it specifically done in America? Because there are PLENTY of countries that allow over a year (more than 52 weeks) of paid parental leave to mothers and fathers that I would imagine make spending a few early years in college to invest in oneself less impactful on childbirth rates. However, in America, there is little parental leave at all, little support for parents, huge focus on individualism & capitalism, etc. This country (and the culture it’s created) doesn’t care about its citizens. As a 27 year old woman I would love to start a family and live a good life (not necessarily a lavish one) similar to the one I had growing up (3 bedroom house with big backyard, public school + tutoring and after school activities, 2 paid for used cars, etc.) but that is nearly impossible now. Both of my parents have degrees as well. I believe the low birth rates have more to do with culture and policy than college education.
@@GoJojo-lv6zi I’m not sure if that study was US only, but there have been other studies or news stories I’ve heard that looked at Sub-Saharan Africa & came to the same conclusion. It’s the same in every culture & society - as more options other than having kids are available to women, the birth rate trends downward. As for more paid leave to have kids, I think it’s Denmark that has 52 weeks paid but their birth rate hasn’t risen to replacement level & stayed relatively flat.
My parents were both born and raised in Sub-Saharan Africa and they provided the life I mentioned above to my sibling and myself in America, after getting their degrees. My father has a bachelor's degree and my mother has a master's degree as well. I have plenty of educated millennial family members who were born and raised in Sub-Saharan Africa and still live there to this day who (both parents) have degrees and have children. The economy, culture, and capitalist/individualistic policies in America (crippling student debt, expensive or inaccessible healthcare, little work-life balance, and everything else I mentioned before) have a lot (almost everything imo) to do with the lower childbirth rates.
🎉Congratulations George and Whitney!!!! God bless you on this new stage of life!!! ❤️
You guys make a great partnership! I enjoy the banter and humour (and yes, the mocktails as well!)
Congratulations George and Whitney! Cheers to new adventures! 🎉❤
Congratulations George & Whitney! Such couple goals! Thanks for inspiring us!
The most expensive part of having kids isn't the material things I buy them. It's paying to fix their mistakes lol when they break something whether in the home or at a store, I have to pay to replace it! I never realized how big of an expense this would be before having kids.
Don’t touch in stores should be the first thing you teach them
I’d like to say it’s both lol
This is true. I no longer buy new items for my house. I check the community apps for items posted for sale. My children have damaged more than a few items. Lol.
I have two boys. 13 and 6. They have never broken anything at anyone’s house or a store. If that’s your number one complaint, I’m a little baffled honestly.
The most expensive mistake my kid made is cutting her own hair and it cost 40 bucks to fix it
Congratulations, George and Whitney!!! I am so excited and happy for you two.
Congrats, George! You’ll be a wonderful dad.....you have the right mix of common sense, humor and kindness, qualities that will serve you well in parenthood!
Congratulations George and Whitney!! This is such happy news. You’ll be a great dad🎉🎉🎉
It’s all of it. Rachel lists the parameters, yeah, that’s part of the reason why and they’re time expensive too. Not just money, but time.
It's not just wanting to retire early, life has gotten a lot more expensive lately.
Retire early? just for most they would be happy to retire at 65?
Yeahhhh!!! Congratulations to George and Witney, this news made me smile!! Wishing you all the best x
Congratulations to your new baby girl!! Thank you for sharing the mock tails
More women started working. More households became two income. Higher household incomes meant bigger houses. The new standard had been set. Creating an increasingly harder environment for a one income household to survive financially. I’m a stay at home mom. My husband works. It has been hard. We have three children and are definitely not the norm but it can be done.
Price of homes, costs of childcare, price of food and education. Add to that, toxic masculinity agenda in media and lack of opportunities or stable jobs. We have record debt and they wonder why we don't want to have kids. Then preference to women in divorce settlements since most marriages end that way.
Congratulations, George! I am a Proud dad of 12 children. I would love to talk to you all about some of the assumptions that were voiced in this episode. Raising children does not have to be expensive. Unless you make it expensive. We have raised our family with just my income, while my wife, homeschooled all of our children all of her children (7 of whom are still at home). We are a very close family and do a lot of wonderful things together, in fact, our adult children still go on vacation with us. I would love to give you my perspective on how fulfilling and enriching raising a large family is. It really saddens me to hear that people don’t want to have children because they fear money, wealth or retirement. No amount of money will ever replace the joy of having children.
🎯
Sadly to many people are selfish like the bible speaks...kids are a blessing!...its not always easy but God teaches us that it's not just about us...we are here to serve with love patience.
Very cool, StHubert. I'm one of 11 kids, myself. The oldest is 43 and the youngest just turned 20. You're not wrong. God bless your family.
I'm one of 12 kids and while dad worked a lot as a self-employed man, we had a full childhood. All homeschooled in the country.
@@sackettfamily4685 that's awesome. All 11 of us were homeschooled as well.
It's Thursday and time for SMH²!!! I'm soooooooooooo happy for Klan Kamel with a K!!! We had our daughter late in life- I was a month from 40th birthday when my daughter was born in August of 2010, she is our only kiddo. Looking forward to hearing about you being a dad. Great job as always Rachel, George & Team SMH² - keep up the awesome job!
I don't think spelling "clan" with a "K" is very popular anymore lol
I’m a big fan of this type of new content Ramsey Solutions is coming out with. Keep up the good work!
this is right at my speed! So happy to find your channel!
Congratulations George and Whitney!🎉🎉 George, you’re going to be an awesome dad!❤
Congrats George and Whitney! The joy you will feel having children will far outweigh any money myths :)
Congratulations!! Such happy news!!
Encouragements (that helped me):
1. The tools and strengths that helped you deal and solve problems in your life so far, are the same tools that you will use to solve problems with parenting when they arise.
2. You have great family and friends to give you advice and help. Also, there are many resources in our modern world to help with parenting. You are not alone.
3. A very good idea to keep in mind is that you don't have to be the perfect parent, you only have to be a "good enough" parent. When you make mistakes you appologize and move on. Kids are very resilient.
Congrats again!!
I'm so excited for you George & Whitney!! Girls are so fun!!! 💗
Until teens
OMG CONGRATULATIONS GEORGE & WHITNEY!!!!!💕💕💕💕💕💕. So excited for you both!!! Can’t wait to see the cute lil Kamel!!!! 🥰
Congratulations George and Whitney & families!! 🎉👶
God forbid you have a kid that goes to the nicu when born boom 854k in debt my friend 3 months in nicu 2.3mil in debt. Don’t have a kid cause one thing goes wrong in that birthing room 100k plus easy in debt but nobody talk about that
Congratulations, Whitney and George!
I've been somewhat rookie binging the Ramsey show the last few months, stumbled on this show recently, and have to say, I'm really enjoying it! You two are a lot of fun, while still holding intelligent conversation with good advice. Cheers!
Don’t worry- Nick Cannon has the US’s population back on track.😂
Hes doing the best he can.😂
Doesn’t make me feel better lol
single handedly
Lol… my husband was talking about this the other day 😂😂
Congratulations to George and Whitney on your pregnancy, I'm so pleased for you both. ❤
Congratulations George !!!! So happy for you !
Congratulations, George & Whitney!!! 🎊
Yay! Congrats George and Whitney!
Congrats George and Whitney! Exciting news!!
Congratulations George and Whitney!! 🎉🎉
Sooooooo happy for George and Whitney!!!!!! Congrats!!!!
Congratulations Whitney and George 💗 blessings to your family
Congratulations, George & Whitney!!!!!!🤗💝
Congrats! So excited for you!!!
Congratulations George and Whitney.Blessings.
Congratulations, George and Whitney!
Congratulations George!!! I’m sure you both will be great parents!!! God Bless you both!!!
Congratulations Whitney and George!!!
Congratulations George and Whitney! You’re going to be wonderful parents!
Congrats George! First time dad listening! I first saw the TH-cam Short and was confused about “her.” So I had to listen to the longer video to get the context!
A little bit of advice: don’t rely on the internet too much, you and your wife are kiddos parents, not some random person online.
Congrats, George & Whitney!
Congrats George & Whitney!!
So excited for ya’ll George!! ❤😊
I love my son, But my 2 daughters have always had my heart,and know just how to get to me., Congratulations George and Whitney.
I’m smiling so BIG listening to this episode. Congratulations George and Whitney!!
I listened on Google Podcast this morning. Congrats!
Congratulations George and Whitney!!!!!!
Congratulations George & Whitney!
Congratulations on baby #1! I appreciate y’all discussing the cost of childcare and medical care. I’m a nurse and my husband is a teacher and we have next to no family help (family lives out of state). I work on call and the weekend (which pays more anyway) and my husband works the weekdays. I work extra during holiday breaks. Our daughter is one and we want to have a second one soon but definitely are thinking about the financial implications. I think when our daughter starts going to school things will be much easier and we want to have kids semi close in age to help with that too.
Can y’all do a segment where y’all do empathy scenarios?
Like pull and income and life event out of a hat and break down how you would handle the situation?
Thanks for the content. I would like to see more lower middle or true middle class advice.
I’m so happy for you George!🎉
Congratulations George!! I’m expecting our first 9/9!! We are having a baby boy! Super exciting but also nerve wracking
Congrats George and Whitney!! 👏🏼☺🎉
Honestly, don't have kids if you plan to have strangers raise your kid.
❤
Omgosh, congratulations, George!! Great news!
Yayyyy!! Congratulations George and Whitney!!! So happy for y'all!! 🥳
Congratulations George and Whitney!
It’s end of summer 2023 now! I hope that all went smoothly!!!! Congrats new parents!!
Congratulations, George! You will be a great Dad.
Congratulations to Mr. and Mrs. Kamel!🎉🎉🎉
Congratulations to George Kamel and his wife on their upcoming bundle of joy! Becoming a parent is one of life's greatest adventures, and it's clear that George is thrilled to become a dad. It's always heartwarming to hear someone speak so passionately about starting a family and the joy that comes with raising a child. I wish them all the best as they prepare to welcome their little girl into the world.
Rachel Cruise's advice on family planning is both practical and informative. Money can be a major concern for couples considering parenthood, and Rachel's suggestion to pause the debt snowball and save up cash is a smart approach. Her insights are helpful for anyone looking to navigate the financial aspect of having children.
All in all, I'm excited for George and his wife and wish them a happy, healthy pregnancy and smooth delivery. Parenthood is a wild ride, but I have no doubt they'll embrace it with love, laughter, and all the joy that comes with raising a child.
Congrats, George!! We had our first 4 months ago, and let me say, the lack of sleep isn't nearly as bad as everyone makes out. I honestly sleep better now than when I was pregnant lol.
Omg you’re lucky! The lack of sleep was the WORST for me 😂
Such wonderful news!!! Congrats❤
LETTSSGOOO KAMEL!! congrats!!!!
This is a great video. Having kids at an early age taught me to budget. I would take my kids to free parks or to state parks on $5 to park day. We mostly ate meals at home and clothing was on a Budget but we had each other.
Congrats George and Whitney!
Congrats, George! I'm sure you and your wife will be great parents!
Congratulations George and Whitney on your "sweet" little baby kamel! lol loved this episode and can't wait for more content!
Congratulations, George! Rachel, Imma need to hear those sleep training tips :)
Congratulations George and Whitney!!!
congratulations George & Whitney
Congratulations George!!
It seems very unfair to have children if you aren't financially well. If you don't have enough retirement to care for yourself in your old age you are putting that burden and expense on your children.
It also just seems cruel. I remember the stress of money in my house. I remember using birthday wishes to wish that my parents were financially stable. To me that is not a fair or kind thing to do to your child. Don't have kids if you can't afford it.
Massive congrats, George!!! 🎉
🎉congratulations George and Whitney🎉
CONGRATULATIONS 😍We're expecting number 4 in October and are in baby step 3B I think...🤔just working on the house for debt! Anyway, girls are the BEST! We have 2 girls and they are SO dramatic 🙄 but fun! You got this ❤
Congrats George and Whitney