I Need Help Now
Special Discounts For
Hurricane Victims!
Nowack & Olson, PLLC
South Florida
Bankruptcy Attorneys
Free Consultation

Slow economy forces young couples to delay or skip parenthood

Although many Floridians would consider a child a blessing, few people can dispute that having a child is a huge financial undertaking. From diapers to a college education, the expenses can add up. Unfortunately, when parents are also struggling with credit card debt, student loan debt, mortgages, and other financial obligations, the costs of raising a child can leave some people searching for debt relief.

For several reasons, many of them economic, young Americans are delaying marriage, the purchase of a home, and parenthood. For some couples, the delay may be so severe that they will never get around to having kids. Since the start of the recession in 2007, there has been a steady decline in the number of babies born in the United States. Following recessions, the birth rate often drops, but it quickly bounces back to previous levels; however, the birth rate has yet to increase to pre-2007 levels.

As more young people struggle to pay off their student loans, they’re also facing a tough labor market, which makes it difficult to find secure employment. Although some couples hold jobs, they may be uncertain about their long-term career prospects. If the birth rate does not improve, the next generation could see an alarming decline in the labor market, which could to future economic troubles.

Unfortunately, overwhelming debt may contribute to a couple’s decision to have children. However, some people may be able to get a fresh start through personal bankruptcy. People in this situation may want to set up an appointment with a bankruptcy attorney.

Source: Today, “Dreams delayed or denied, young adults put off parenthood,” Allison Linn, July 10, 2013

Email Us For a Response

Let Us Help You

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Sunrise Office
8551 West Sunrise Blvd., Suite 208
Plantation, FL 33322

Toll Free: 888-813-4737
Phone: 954-349-2265
Plantation Law Office Map

Doral Office
8180 NW 36th St., Suite 102
Miami, FL 33166

Toll Free: 888-813-4737
Phone: 305-698-2265
Miami Law Office Map

Boca Raton & Delray Beach Office
6501 Congress Ave., Suite 100
Boca Raton, FL 33487

Toll Free: 888-813-4737
Phone: 561-463-2265
Boca Raton Law Office Map

Jupiter & Palm Beach Gardens Office
601 Heritage Dr., Suite 137A
Jupiter, FL 33458

Toll Free: 888-813-4737
Phone: 561-463-2265
Jupiter Law Office Map