Partners in a DINK couple may or may not be married, and they could be a same-sex or a heterosexual couple. What each DINK couple has in common is that they do not have children living in their household who they are raising or supporting.
How DINK Works
As mentioned, DINK couples are often viewed as having more disposable income because they do not have to bear the costs associated with raising a child. According to the U.S. Department of Agriculture, the cost of raising a child is approximately $233,610, which does not include expenses incurred after the child turns 18, such as college tuition. For DINK couples, the costs of food, clothing, and long-term education that are often associated with raising one or more children are eliminated. This gives the couple the chance to save money and allocate it elsewhere. Children also take time to raise. The Bureau of Labor Statistics estimates that parents of children 18 and under spend an average of 1.36 hours per day caring for their children. Those with children under the age of six spend longer, averaging 2.14 hours per day. DINK couples may have more free time and flexibility since they are not devoting these hours to child care. DINK is often used as shorthand for a specific way of organizing your life and finances. There are many DINK groups on the internet on platforms such as Reddit, as well as blogs and websites celebrating the choice to remain child-free to have more money and freedom.
The Impact of the DINK Lifestyle
A growing number of couples now fall into the DINK category. From 1976 to 2016, the percentage of adults living without children has increased by 19 percentage points, from 52.5% to 71.3%, according to the latest Census Bureau data. The number of births in the U.S. has been steadily on the decline for decades, too, and many women have reported wanting fewer children than in the past—a trend that the pandemic has accelerated. According to a recent survey, 34% (or nearly one-third) of women reported wanting to delay childbirth or have fewer children because of the pandemic. The declining birth rate is concerning to some experts, as societies depend on continued population growth. Dropping below the “replacement rate” means there could be too few young people to support an aging population.
Alternatives to Dual Income No Kids
There are many alternatives to choosing the DINK lifestyle, as families can be structured in a variety of ways. Other family structures include:
Single-parent families, comprised of one parent with at least one child Single-income families, composed of two coupled partners in which only one person works. These families may or may not include children Dual-income families with children and two working coupled parents
Family structure can affect many facets of your life, especially when it comes to finances. Before deciding to have children, it’s important to be financially prepared. Consider meeting with a financial advisor to develop a strategy that’s right for you and your lifestyle.
