What Is Dual Income, No Kids (DINK)?

"Dual income, no kids" (DINK) is a slang phrase for a household in which there are two people earning incomes but no dependent children. Couples in DINK household often have more 澳洲幸运5开奖号码历史查询:disposable income because they do not✨ have the added expe🍎nses that comes with raising children.  

This extra money al♈lows for more flexibility in savings, investments, and discretionary spending, such as vacation𒆙s and luxury goods/ They also often spend less per person on housing than singles because of their ability to share kitchens, bathrooms, and living rooms.

For comparison, consider the opposite scenario—澳洲幸运5开奖号码历史查询:dual income with kids (DEWK), where both partners work while raising children. The financial dynamics differ significantly between the two living arr𒈔angements.

Understanding Dual Income, No Kids (DINK)

When two people in a household are earning income and they have no children who depend on them to support them, they can put more money toward financial goals like savings. They will also have more disposable income that will give them the ability to spend more on non-necessary expenses.

Costs associated with raising one or more children include food, clothing, and long-term education, and more. The average middle income family will pay $310,605 to raise a child born in 2015 to age 17, according to a Brookings Institution study. According to the U.S. Department of Agriculture estimates that will be $233,610, however this estimate does not account for inflation. Of course, the exact cost to raise a child will vary significantly from family to family.

While DINKs may not necessarily be wealthy, they often have a more discretionary income than families with children, allowing them to save more, invest, and enjoy a higher quality of life. As a result, DINKs are often targets of 澳洲幸运5开奖号码历史查询:marketing efforts for investment products and 澳洲幸运5开奖号码历史查询:luxury items, such as expensive cars and vacations. They also tend to spend less on housing than singles, as the shared living spaces lower overall costs.

DINKs can often invest more than their counterparts with children or who are single. The money that might have been spent on children could be put into stocks, bonds, or ♛other investment vehicles. Investing even a few thousand dollars per year can potentially increase earnings even more.

Types of DINK Households

There are several situations that can be considered "dual-income, no kids." They include couples who choose not to have kids, those who cannot have kids, new couples, empty nesters, roommates, and adult child and parent living arrangements.

Couples Who Choose Not to Have Children

Some couples make a conscious decision to remain child-free, whether for lifestyle preferences, financial reasons, or health-related concerns. These couples enjoy the financial benefits of having two incomes without the significant expenses associated with raising children.

Couples Who Cannot Have Children

澳洲幸运5开奖号码历史查询:LGBTQA+ couples or couples who desire children but face medical challenges that prevent them from having them (such as infertility or other health issues) may also find themselves in a DINK situation. However, they face additional costs associated with 澳洲幸运5开奖号码历史查询:fertility treatments or adoption if they choose those paths, as the 澳洲幸运5开奖号码历史查询:cost of adoption can run up to $50,000 or more. And the average cost of one In Vitro Fertilization (IVF) cycle as of 2023 is $21,600, according to Carrot Fertility.

New Couples

Couples just starting their life together, whether they are 澳洲幸运5开奖号码历史查询:newlyweds or pa🍬rtners who’ve recently moved in together, can also be part of the DINK demographic. While they may eventually have children, during the early stages of their relationship, they have the financial freedom of a dual-income household without the added expense of children.

At this stage in their lives they may be saving for major purchase milestones like 澳洲幸运5开奖号码历史查询:buying a home or buyingꦉ a car. They may be saving for a wedding or carrying debt from paying for one. They also may be saving money to prepare for the cost of raising children.

Empty Nesters

After the children have grown up and moved out, couples may become part of the dual income, no kids demographic again. They may find they have extra money in their budget that they once spent on kids. They might also gain funds by selling their house and 澳洲幸运5开奖号码历史查询:downsizing.

Empty nesters often change their financial focus from supporting their children to 澳洲幸运5开奖号码历史查询:saving more for retirement. If they already have substantial savings, it could b💦e time to start taking more vacations before the couple gets too old to enjoy them. Unlike new couples, empty nesters are likely not concerned with saving to buy their first house or car.

Other Types of DINK Households

If two adult household members are earning income and they have no children, they would be considered a "dual income, no kids" situation. A household is generally considered a situation in which members share living quarters, whether they are related or not, according to the U.S Census Bureau definition.

So, roommates living together or an adult child living with a parent would likely be considered a household. However, residents living together in an apartment building would not be considered a household because they are living in separate quarters.

The Bottom Line

"Dual income, no kids" (DINK) households are a diverse group that includes couples who choose not to have children, those who are unable to have children, and other variations like roommates or adult child-parent households. The absence of children’s financial burdens provides DINKs with more disposable income to save, invest, or enjoy leisure activities. As a result, they are often a primary target for marketers offering luxury goods and services.