‘Fertility rate in England and Wales drops to new low,’ ‘Birthrates are plummeting worldwide,’ and ‘Dramatic declines in global fertility rates.’ These alarming headlines paint a scary picture of what many are calling a global ‘fertility crisis,’ leaving us to question: is it any wonder?
The latest data from the Office for National Statistics reveals a staggering decline in birth rates, with just 605,479 births recorded in 2022 – more than 100,000 fewer than a decade ago. The reasons behind this are complex, but one major factor seems to be the rising financial cost of raising children.
At 28, I would love to start a family, but the reality of the financial demands makes it feel like an insurmountable challenge. Despite working full-time, I struggle to imagine how I could afford the cost of raising a child. Research from The Child Poverty Action Group highlights the financial strain many parents face on a daily basis, showing that the basic cost of raising a child in 2024 is £165,872 for a couple and £186,822 for a single parent to cover essentials like food, heating and clothing. When accounting for added expenses like the cost of hobbies, school trips and special occasions like birthdays up to the age of 18, this figure rises to a staggering £290,807. Even for a two-parent household earning the average full-time wage, this would cover only 99% of the expected costs.
The devastating impact of child poverty
The rising costs of raising children are having a devastating effect on families, driving an alarming rise in child poverty. According to recent data, 4.2 million children—29% of all children in the UK—were living in poverty between April 2021 and April 2022. This marks an increase from 3.6 million children in 2010-2011. Shockingly, 71% of these children are from working families, demonstrating that simply having a job is no longer enough to lift families out of poverty.
To put it into perspective of how difficult new families have it now, a single parent with two children working full-time on the minimum wage could cover 97% of their costs in 2008. Today, however, that same parent can only cover 69% of the basic costs. The stark reality is that despite the fact that many parents are working full-time, the cost of living—coupled with stagnant wages and cuts to benefits—has made it increasingly difficult to afford even the basics of a minimum standard of living.
Energy prices, for example, have risen far faster than wages, leaving families with less disposable income. And with cuts to social security and other forms of financial assistance including childcare costs, it is harder than ever to afford the costs associated with raising one child, let alone multiple children. Families are now faced with an even more challenging financial landscape than before, further complicating the decision to have children.
Why are women waiting longer?
These escalating costs are just one reason why the average age of a woman having her first child has risen from 23 in 1970 to 29.2 in 2022. Alongside the financial burden, women today have better access to education and career opportunities than ever before, as well as increased access to birth control, all of which contribute to delayed parenthood. According to a recent report by the UCL Centre for Longitudinal Studies, 28% of women aged 32 report not feeling ready to have children due to financial concerns. Even more, 46% are hesitant to have another child, citing both financial constraints and the pressures of work-life balance.
For many women, this financial strain means they are struggling to achieve key life milestones, such as moving out of their family home or securing a stable job, before even considering starting a family. The delayed timing of having children reflects broader societal shifts in expectations and opportunities for women, but it also underscores the very real economic challenges that come with parenthood today.
The financial pressures facing families in 2025 are undeniable, and they are reshaping when people choose to have children. With wages failing to keep pace with the rising costs of housing, energy, and childcare, many are left questioning how they can afford the life they want to build for their families. It’s clear that the fertility crisis is not just about personal choice—it’s a result of a broader economic crisis that has left many people wondering how they can navigate the pressures of raising a child in today’s financial climate.
How the future is being shaped
The financial pressures facing families in 2025 are undeniable, and they are fundamentally reshaping not just when, but if people can afford to have children. With wages stagnating while the costs of housing, energy, and childcare skyrocket, the dream of starting a family is slipping further out of reach for many. The fertility crisis isn’t simply about delayed personal decisions—it’s a direct consequence of an economic system that leaves too many struggling to make ends meet. As families face the crushing weight of financial insecurity, the question is no longer just when to have children, but whether it is even possible to create a stable, fulfilling life for them at all. The true cost of raising a child in today’s world isn’t just monetary—it’s the cost of an uncertain future for our children.
Lorna White is the Products Editor for Mother&Baby. After running the Yours magazine website, specialising in content about caring for kids and grandchildren, Lorna brought her expertise to Mother&Baby in 2020. She has a keen interest in a range of topics from potty training and nutrition to baby names and early development and has a wide range of experienced medical experts and professionals at her fingertips. In her spare time, she enjoys spending time with her two young sisters, dog walking and enjoying the outdoors with her family.