...
By Suzanne Blake
Reporter
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
Generation Z members jump from job to job, engage in unorthodox relationships and are likely to travel internationally as "digital nomads," recent reports have found.
At the same time, many in this generation, which consists of those 12 to 27, are not starting families in their 20s and choosing to become pet parents instead.
Read more: Best Savings Accounts for Kids and Teens
Read More on U.S.
A new survey of Gen Z-ers in the U.S. and Canada found that 4 in 10 said marriage wasn't a necessity. And only 38 percent said they would prioritize starting a family over raising a pet, according to the report from the website Best Ontario Casino Sites.
This reluctance to start a family likely stems from the economic environment Gen Z-ers find themselves in. They have faced some of the highest inflation in decades, and the housing market remains out of reach for the vast majority of young Americans.
...
"Rampant inflation and the high cost of living are making major life decisions like parenthood seem impossible and financially burdensome," Michael Ryan, a finance expert and founder of MichaelRyanMoney.com, told Newsweek.
Read more: Compare the Best Rewards Credit Cards for Pet Owners
In addition, Gen Zers are often paying off sky-high student loans and taking starting jobs with very low starting salaries.
Ryan said many of the Gen Zers he's counseled face significant student debt, stagnant wages and a general uncertainty about their long-term career prospects, which makes having kids seem not very sensible.
"Having kids represents a massive financial commitment that many simply don't feel equipped to take on right now," Ryan said. "Pets offer the companionship and responsibility of caring for another life but at a much lower cost."
Read more: How to Protect Against Inflation
Gen Zers are also prioritizing flexibility and personal growth before settling down, Ryan said.
"The dating scene has been transformed by apps that create an endless stream of romantic prospects," Ryan said. "Why rush into family life when you can spend these years discovering yourself and your passions?"
This, plus Gen Zers' different attitude about accumulating material things, compared with previous generations, does not set up a perfect scenario for raising a family.
"Lifestyle shifts such as Gen Z valuing experiences over possessions doesn't compute well to having children that would likely hinder their ability to be flexible and pursue new experiences," marriage and family therapist Rachel Goldberg told Newsweek.
While some say that a younger generation's decision to delay marriage and parenthood is a sign of social breakdown, others think that's not necessarily a bad thing.
"If this trend buys Gen Z time to establish themselves as adults first, we could see more stable home environments down the road when they do decide to have children," Ryan said.
Still, low birth rates can lead to labor shortages and a strain on social safety nets, as well as a real estate crisis.
"Many parents on social media show the challenges of raising children, sending the message that parenting isn't all it's cracked up to be," Goldberg said. "All the fun memes and jovial videos make having kids seem less appealing than sitcoms of the '80s and '90s."
View 0 Comments
Submit Correction
View Editorial & AI Guidelines