Wealth and Birth Rates in France: Is There a Correlation?
In France, where the birth rate has been steadily declining for the past two years according to INSEE, a recent study conducted by Yomoni highlights the importance of financial circumstances in families’ decisions.
Nearly 44% of those surveyed say that if they had greater financial security, they would consider having more children. But beyond this aspiration, one reality stands out: the cost of raising a child is greatly underestimated by the majority of French people.
Recurring Underestimates
When asked about the monthly budget needed to provide for a child, the French cite an average of 500 euros per month. However, according to the Ministry of Solidarity and Health, this amount is actually closer to 750 euros, including expenses related to food, childcare, education, and leisure activities. This discrepancy highlights a perception that is far removed from reality, often stemming from a lack of awareness of actual expenses.
In fact, only 19% of respondents correctly estimate these expenses, while 21% believe they are well below 300 euros per month. The disparities widen even further by region: in Île-de-France, 12% of parents estimate a monthly cost of more than 1,000 euros, compared with just 4% in Brittany. In contrast, 25% of residents in the Centre-Val de Loire region believe that a monthly budget of less than 300 euros is sufficient.
The Long-Term Financial Burden
While estimates vary from household to household, the scientific consensus puts the cost of raising a child at between 80,000 and 250,000 euros until the child reaches the age of majority, with an average of 180,000 euros reported by the Ministry of Solidarity and Health. This calculation obviously includes daily living expenses, as well as related costs such as after-school activities, private lessons, and specialized equipment.
Despite these financial realities, nearly 31% of French people admit they don’t have a clear idea of the total cost. However, 42% believe the amount exceeds 100,000 euros, and 24% estimate it to be over 200,000 euros. This estimate varies further by region: in Corsica, 45% of respondents believe that the cost of raising a child does not exceed 100,000 euros, compared with only 38% in the Pays de la Loire region. Conversely, residents of Hauts-de-France are more cautious, with 28% estimating this cost at over 200,000 euros.
Education and Personal Development: Money as a Determining Factor
Beyond the out-of-pocket costs, family finances often determine children’s educational opportunities and personal development. For 69% of French people, economic resources directly influence the quality of education and the chances of success for young people. Among them, 48% consider this impact to be significant, while 21% consider it moderate.
However, 31% of parents believe that financial considerations are not the most important factor. They emphasize other factors, such as the values imparted or educational choices, which they believe play a crucial role in their children’s success and well-being.
Strategies for the Future
Faced with these challenges, the French are taking action. More than 85% of them plan to provide financial support for their children until they become independent. To this end, 61% have opted for a dedicated savings plan, while 24% believe their income will be sufficient to cover their children’s needs. Nevertheless, 13% of those surveyed express concerns about their ability to provide for their children in the long term.
So, does having more money mean having more children? While the relationship isn’t straightforward, financial circumstances remain a key factor in the decision to start a family, reflecting both the aspirations and the constraints of French households.
