While raising children is not cheap, the arrival of a new baby should be a joyous occasion, not the beginning of economic struggles. Financial planning is a critical aspect of preparing for parenthood.

The number of children a family decides to have often intersects with their financial circumstances. It's an intriguing societal phenomenon that wealthier families tend to opt for a single child, while lower-income households often have larger broods. So, what are the reasons behind this trend?