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Is the economy destroying love?

Many young people are delaying 'key life decisions' like getting married and having children.

By MSN Money Partner Nov 15, 2012 4:07PM

This post comes from Kimberly Palmer at partner site U.S. News & World Report.

 

U.S. News & World Report logoFor recent college graduates, the post-recession economy has meant a challenging job market, lower earnings, and a greater chance of moving back home with parents. As they progress through their 20s, it also means they're more likely to push off traditional milestones such as getting married and starting a family.

 

Woman on the Telephone © Radius Images, Radius Images, Getty ImagesA new survey from Generation Opportunity, a nonprofit dedicated to engaging young adults on economic issues, found that eight in 10 young women between the ages of 18 and 29 living in Florida say they've delayed "key life decisions" because of the weak economy. Three in 10 specifically mentioned starting a family as something they will either delay or possibly skip altogether, and two in 10 said the same about marriage.

 

Respondents also listed a variety of other life events they're skipping or putting off: vacations, attending weddings or family reunions, buying a home and saving for retirement. In a statement, Generation Opportunity executive vice president Amber Roseboom noted that young women's "careers and dreams have been interrupted."

 

The survey echoes similar national findings of both genders. Earlier this year, the Pew Research Center found that almost one in three young adults between the ages of 18 and 34 say they have delayed marriage or parenthood because of the economy. About half said they have taken jobs they don't want to pay bills.

 

When it comes to the biggest life decisions -- when and whether to get married and have children -- money undoubtedly plays a big role. But it's possible to find ways to make both events more affordable. Marriage can even help couples save money, especially if they combine expenses they previously paid separately, such as food, housing and transportation. Couples with very different salaries, or where one spouse earns a lot and the other earns little or nothing, can also find themselves paying a lower tax rate post-nuptials. (The opposite is often true for couples who earn similar amounts.)

Babies are a little trickier. They are expensive, and getting more expensive all the time. The U.S. Department of Agriculture recently reported that babies born in 2011 will cost their parents $234,900 before age 18, which was a 3.5% increase over the previous year. That's because child care, education, transportation and food prices are all rising.

 

But as with marriage, there are ways to generate savings: Children can share bedrooms, parents can buy or borrow secondhand clothes and toys, and buying and cooking food in bulk can keep grocery bills down. Parents might even find that some pre-baby costs, such as restaurant meals and vacations, naturally go down with their new child-centric lifestyle.

 

Still, there's no avoiding the fact that marriage and parenthood often introduce new expenses into one's life. Based on the recent surveys, young adults appear to be keenly aware of that fact. Delaying either event can be the smart move for 20-somethings still struggling to find their own financial footing.

 

But for those intent on moving forward, either down the aisle or into parenthood, there's usually a way to make it happen without breaking the bank.

 

Have you delayed marriage or parenthood because of the economy?

 

More on U.S. News & World Report and MSN Money:

 

 

 

134Comments
Nov 15, 2012 11:23PM
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Go back and read the declaration of independance. And by the way the next you say global warming is melting the ice cap in the artic ocean, go count the Ice breaker ships up their working back and forth. The Queen of England ordered 17 new Ice breakers to go there. The first Ice breaker to cross the artic was made of wood. It keeps trying to freeze back but the Ice breakers heep knocking it out. Some areas started breaking up on there on after the Ice broke back to the point where the top heavy weight allowed it to continue to break off.
Nov 15, 2012 11:23PM
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Anyone who is a low wage earner has fewer opportunities to get out and meet people.  As a single mother who barely makes ends meet, I haven't had money or time to meet Mr. Right.  I don't even dream of luxuries like vacations.  My child doesn't really know his aunts, uncles or cousins because we live far from them.  Even social events such as volunteering have costs that are beyond many peoples means.  Things need to change in our society, once the dwindling middle class disappears we will be left with a small percentage of the "haves", and huge numbers of the "have nots".
Nov 15, 2012 11:19PM
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Same thing happened during the Great Depression. That's why women started noticing a "man shortage"....because women traditionally look for men who are slightly older than they are...and there were a lot more men born during the depression than slightly later, during and after the war.
Nov 15, 2012 11:17PM
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The most important thing we young people need to remember is that  politicians from both parties are failing us. A failing educational system, predatory student loan industry, universities that are now corporations with emphasis on revenue, not curricula that actually train the young for real-life jobs, and being set up to fail when competing against our counterparts from other developed and developing countries. One of the biggest threats to the American economy are economic and institutional issues that prevent young people from starting their lives -- it means fewer households and demand for every consumer goods/services that constitute such households (like vehicles, washers/dryers, furniture, utilities, demands for housing which is a still bleeding industry, etc.)  I am thankful that I have a degree in Engineering that I worked hard for that is in fairly stable demand, and also that I have been employed during this unprecedented economic mess, but it;s easy to see that there are systemic economic problems when my experience as a young adult is the exception. 
Nov 15, 2012 11:15PM
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Carpe Diem everyone...most of us can't wait until the stars are aligned just so or even for the perfect job that will pay all the bills...being poor alone is far worse then working with your best friend (spouse) to build a better future together.  If you choose wisely, you will always have an advocate to cheer you on and a shoulder to cry on when things don't work out.  Money should not define how we love nor who we love.  If it is, then what we should be asking ourselves is if we really know what "love" is.
Nov 15, 2012 11:15PM
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I did not vote for anyone because I dont want to be responsable for what is about to happen.  Both republicans and dems are walking the same side of the street. Just like most all lawyers walk the same side of the street. Everbody walks their side of the street. The country has been divided.

Nov 15, 2012 11:09PM
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People, quit making Obama or the President your God, thats the problem. When you put a regular man in charge of your spiritual condition, your screwed. When you worry about what someones doing, they control you.

I have never talked to any US President, I control my God given life and never let any man dictate what I do. I am living the same life I always have. To be honest, taking away Americans credit was a test, Americans have gotten weak. What if it really did get bad, where people were living in tents all around you? It's not even close to that and this Country has already given up. SICKENING.

What determines a strong unity is when folks are just as strong during the tough times...Like a marriage, when one is struggling, what do you do, just sit their and blame each other???

Quit posting comments hoping some man is going to save you, get off your **** and live.

Nov 15, 2012 11:07PM
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The divorce rates go down because everyone is divorced and thoes who think about marrage normally backout because they know there is a lawyer waiting to assist in distroying the family after the children are born. That is big federal cash cow in a lawyers account. Study US history and the BAR Associations the International BAR, and who thinks they own the USA.

 

Some will learn now but others will learn later. 

Nov 15, 2012 11:04PM
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Nope, but the word economy is...Im sick of everyone using the word, even the rich complain. It's not the money people are running out of...

It's Time...



Nov 15, 2012 11:02PM
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This article can't be real. The "greatest generation" grew up at or after the Great depression!!!!

They did not have any problem with it! We have spoiled our young with everything they WANT! (Not Need)

Nov 15, 2012 10:59PM
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Restore the republic. Succession may be the only way?

 

Nov 15, 2012 10:53PM
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As far as i see it......divorce rates will be going down too. Pick your poison.
Nov 15, 2012 10:52PM
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It depends on who you are...if you're all about material things and teaching your kids those same values, then yes...there is a potential problem.  I'm the weirdo that got divorced BECAUSE my ex was all about the money and material things and not being a husband or a father.  Both people have to want the same things and share the same goals for a relationship to work.  With or without the new car.
Nov 15, 2012 10:52PM
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Lawyers and judges distroy love. They distroy famlies and intentionally keep fathers away so the sewer of the world can envade their famlies and pollute their children with drugs while raping the same.
Nov 15, 2012 10:51PM
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pfft. Life rocks if ya do it right. Evidently, a lot of folks aren't.
Nov 15, 2012 10:43PM
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We voted for Obama.......so expect for ALL of us to have less and less money and the government to require more and more of our money.  It  will be the only thing growing in this economy.
Nov 15, 2012 10:43PM
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This is just the beginning of our new disfunctional economy.  Thanks to all the self serving politicians.

Nov 15, 2012 10:42PM
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Definitely I am delaying marriage/children (I don't know if I'll ever afford to have kids)/buying a house, etc. because of financial difficulty. However it is unfair to say that it is "destroying love," as it is perfectly possible to love and not be married (I've been in my relationship for almost 6 years now).
Nov 15, 2012 10:33PM
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I really enjoy the comments, such as Marc Rhodes, who condemn people on the "public dole".  Having grown up in that world, I fully realize you don't have a clue and, frankly, should shut up and educate yourself about that level of living.

 

As far as responsibility, I see it at all levels of American society.  People buying homes they can't afford, getting degrees that pay very poorly, having lifestyle expectations far beyond reality, continuing to consume at unsustainable levels, consuming 25% of the worlds resources when we are 5% of the world's population and the list goes on for a long time.  I don't see any American who isn't living on the "dole" one way or another.  Course for us sensitive middle class folks, the "dole" is termed in definitions our sensitive natures can handle ie tax breaks and subsidies. 

 

 

Nov 15, 2012 10:32PM
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Both my girls were in school until age 30 so of course they delayed things like that.  Thank Goodness!
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