"Dual income, no kids" (DINK) is a slang phrase for a household in which there are two people earning incomes and no children. Couples living in a DINK household frequently have more disposable income because they do not have the added expenses that come with children. They also often spend less per person on housing than singles because of their ability to share kitchens, bathrooms, and living rooms.
For related insight, contrast DINKs with DEWKs, a living arrangement in which both partners work and are raising children.
Key Takeaways
- "Dual income, no kids" (DINK) is a slang phrase for a household in which there are two incomes and no children.
- DINKs are often targets of marketing efforts for investment products and luxury items because they usually have higher disposable incomes.
- There are several types of dual-income no kids situations, including new couples, empty nesters, and other childless couples.
What Is 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.
"Dual income, no kids" households aren't necessarily rich or even upper middle class as the salaries can still limit how much they can spend and how often they can spend it.
However, without children, the partners can save or spend money that their counterparts are spending on raising children. As a result, DINKs are often targets of marketing efforts for investment products and luxury items, such as expensive cars and vacations.
A household without children would require less living space, which can also cut costs. In other words, they would not need to look for housing that includes bedrooms or playrooms for children. That could allow them to rent or purchase less expensive dwellings with smaller spaces. Furthermore, they save money compared to singles by sharing goods and services. For example, DINKs usually only need one kitchen and typically share hotel rooms during their vacations.
Sharing financial resources gives DINKs more disposable income than singles as well as couples that are married with children.
With extra money, 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 DINKs
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
People may choose not to have children for a variety of reasons. Many simply don't want a lifestyle with children, while others have medical reasons or financial reasons, according to a study by the Pew Research Center. When both partners have incomes but choose not to have children, they are in a "dual income, no kids," situation in which they have the financial benefits of two incomes without the cost of raising children.
Couples Who Cannot Have Children
Couples who want children but cannot have children, including gay couples, face difficult choices. They may not be able to afford (or want) to pursue alternatives such as adoption or in vitro fertilization (IVF). Afterall, the cost of adoption can run up to $50,000 or more. And the average cost of in vitro fertilization is about $12,400, according to The American Society for Reproductive Medicine.
New Couples
Whenever you combine incomes in a households, it frees up funds for other purchases. New couples living together may have children one day, but until then they can enjoy a "dual income, no kids" situation.
At this stage in their lives they may be saving for major purchase milestones like buying a home or buying 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 downsizing.
Empty nesters often change their financial focus from supporting their children to saving more for retirement. If they already have substantial savings, it could be 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.
What Is a DINK Lifestyle?
A DINK (dual income, no kids) lifestyle is generally perceived as having more time and financial means to fund non-necessary expenses such as on eating out at restaurants or entertainment. Households with more income and without the expenses associated with having children tend to have more disposable income. Dual income, no kids households can often save more for retirement than their counterparts who have children.
How Much Does it Cost to Raise a Child to 18 in America?
The cost to raise a child is increasing along with inflation. Estimates vary on the exact cost, but it will likely cost roughly between $200,000 and $300,000. According to a Brookings Institution study, the average middle income family will pay $310,605 to raise a child born in 2015 to age 17. The U.S. Department of Agriculture estimates that cost to be $233,610.
What Is a Dual Income Household?
A dual income household is one in which two adults are earning money and sharing their financial resources. They also share responsibilities for expenses. This financial situation often results in more disposable income they can use for spending or saving more.
The Bottom Line
Members of a household may have dual incomes and no children for a variety of reasons, whether they choose not to have children, cannot afford to have them, or for other reasons. In general, households that have two incomes and no children have more money to use for spending, saving, or investing than their counterparts with children.
