NORTH DAKOTA ( KXNET ) — Money is why millennials and Gen Z adults don’t want to have kids, and the reason they plan to keep it that way.

These adults, ages 18-34, said their financial motivation to stay childless comes down to valuing financial freedom and the concerns about their ability to foot the bill for raising kids, according to a survey from MassMutual.

Other research also shows that financial factors are the biggest influence when it comes to the decision to start a family, and in a July survey , Americans under the age of 50 without kids said they made the decision for both lifestyle and financial reasons.

Another study found that parents usually spend about $240,000 from birth to 18 for each child, which is a 20% increase from 2016.

“Raising a family is a financial commitment. It has always been,” said Certified Financial Planner and Head of Brand, Product, and Affiliated Distribution with Mass Mutual, Paul LaPiana. “We are all faced with choices every day, and there is likely room for improvement when it comes to balancing decisions about immediate gratification with long-term happiness and financial security.”

There was a time when the American Dream was a house with a white picket fence, several kids, and a pet, but it now appears to have become a family with dual income and no kids, also known as a DINK.

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