Younger adults are delaying having children, and a new survey says the top reason is because they’re worried about what they have in the bank.

The survey from BadCredit.org found that 52% of millennials and Gen Zers who don’t already have children are further delaying their plans to start trying.

Of the more than 1,000 people who responded to the survey, roughly eight out of 10 respondents cited financial reasons as the main deterrent, with most pointing to the high costs of child care and education.

The group took estimates from a U.S. Department of Agriculture study and adjusted for inflation to find that the estimated cost to raise a child was around $305,000.

“Seventy-one percent expressed concerns about day care and child care costs,” Emily Fanous, a spokesperson for BadCredit.org, said. “Even past that, 72% are concerned about the potential educational costs.”

However, while money is the main reason for these delays, it’s not the only reason, Fanous said.

Beyond finances, nearly half of the group said they aren’t willing to give up certain aspects of their lifestyles to have children and are worried about the loss of personal freedom.

Almost half believe having children would negatively impact their careers, and eight out of 10 said having children would make it harder to maintain a work-life balance.

Last year, birth rates fell to a 45-year low, with just under 3.6 million babies born in 2023: the lowest one-year tally since 1979.