Millennials Are Spending More on Cars Than Childcare

Newsweek’s exclusive survey conducted by Talker Research revealed that millennials are spending more of their monthly income on car payments (11.7%) than on childcare (7.3%), with 56% reporting spending nothing on childcare. Generation X allocated 3.5% towards childcare and 8.1% towards cars, while baby boomers spent 0.9% on childcare and 5.1% on cars. The rise in car and childcare costs is leading millennials to prioritize more manageable investments, like cars, until childcare becomes more affordable.

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