“When are you having children? How long do you want to enjoy your honeymoon?” These are among the awkward exchanges heard by “Single Income, No Kids” (SINK) & “Double Income, No Kids” (DINK) during family gatherings.
Some married couples choose not to be parents while others put off having children due to busy careers or unstable financial situation. Some who gave up on having their biological children may explore the option of adopting children.
Most SINKs & DINKs are concerned with their old age without children to support and take care of them. Retirement, along with the dream of having children are not matters which could be easily discussed, even among the couple themselves. But brushing these valid concerns aside yet still having them on the back of your mind can be stressful.
The arrival of the “bundle of joy” marks the beginning of a series of costly decision making. How will it affect my current financial situation and also going forward?
Needless to say, the couple has less flexibility in managing their finances than before.