Many people who raise questions and send emails to the segment “with Dan with” Dan with Dan with Wral anchor/reporter Dan Hagranty want to talk about how expensive it is.
The huge cost of living can be stressful, can cause anxiety and feel helpless.
A group of people known as Dink (dual-ore, no children) feel that they have found a part of it. Many people have gone on social media to explain the habits of spending their spending without worrying about the cost of children.
In December 2023, the Atlantic published a story, called “The Great Cousin Diclin”. This suggests that couples are fewer children. With fewer children per family, it also means less cousin.
World Bank data shows that in the average American family had 3.65 children in 1960 compared to about 1.64 children per family in 2020.
Sociologists blame the rate of decline on different types of factors, such as a decline in mother-and-pap businesses. People often had children so that they could help run business.
There is also the emergence of birth control pills. US Food and Drug Administration [FDA] The first birth control pill was approved in May 1960.
In July 2023, the FDA approved the birth control pill to be available at the counter. Birth control can lead to less unplanned pregnancies.
When the National Center for Health Statistics saw the decline in family size, one of the top reasons that people gave to small families was not accessible to birth control. This was the cost.
State data suggests that the average cost for child care is $ 9,200 per year.
A Wral news viewer named Keith said that their day care bill for two children would be more than $ 36,000 per year.
A 2020 study of Berkeley School of Business has 78% Millennials and 73% of General Exers double career pairs, meaning that both people work throughout the time.
While this data displays amazing progress in equity, equality and opportunity in the workplace, it also releases some unexpected waves for American dreams.
US Sen Elizabeth Warren, D-Mesachusetts, and his daughter, businessman Amelia Warren Tyggy wrote a book released in 2004, titled “The Two-Incoming Trap, Twilight-Class Parents Going Going Break.”
A part of the book states, “As millions of mothers marched in the workforce, savings declined. And no, as we show you, because the family was removing their salary on toys for themselves or their children. Instead, the family was swept away in a dialect war, competing with each other for their most important occupation, a house in a civilized school district. ,
The book states that, in many cases, there is no longer a perk for two earnings in the family. Rather, it is a requirement.
The market has adjusted for big items like homes, cars or colleges.
Last year in the triangle, the housing power was at one all time low. In August 2023, the strength of Triangle’s house fell until the score of index 71. This means that the typical family only earns 71% of the income required to buy a specific house.
The triangle MLS data shows that in January 2024 the average selling price for a house was $ 381,000.
Also, if you cannot buy a house, how can you tolerate everything else?
The ownership of the house is a starting point, not the end of the financial stability equation. What about emergency savings?
A banking survey found that one in four is none of the American adults. In 2023, Fortune reported that 57% of Americans cannot give $ 1,000 emergency.
Emergency may occur at any time and can go out a medical emergency, car problems, a dishwasher braking, or HVAC.
People have turned to credit card. At the end of 2023, according to Experion, American credit cards were carrying a total of $ 1.129 trillion in loans.
According to the lending, the average credit card loan in Northern Carolina is $ 6,700 with a current average interest rate of 20%. It will take 17 years to pay and will cost about $ 10,000 at additional interest. About half of the Millenniums have students loans and on average about $ 40,000 loans.
Investment management company Mohra estimates that Millennials is on a better track for retirement than baby boomers or general exers due to automatic enrollment in 401ks. However, all three generations are behind.
Low money baby boomers (born between 1946 and 1964) are for retirement, the more they will rely on government assistance. A report last year found that social security is expected to decrease within almost a decade.
This means that until the Congress does nothing, social security will shrink or worse.
Congress can cut benefits or develop utensils, which means to take more money from employees.