‘We don’t want to work solidly for the rest of our lives. If we had kids, we’d need to’

Double-income-no-kids households, or households where both partners have jobs but no children, are very successful. The term "Dinks", comes from 1987 when the "Los Angeles Times" first used it. Recently, couples have been highlighting their child-free lifestyles on social media using the term.

Even in 2024, many young couples still need to explain their lifestyle choice of not having children, whereas this is not the case for their parents' generation. Nevertheless, their numbers are increasing as more and more young couples consider the potential effects that having children may have on their careers, personal freedom, and financial situation.

Britain's biggest families now face a staggering bill of over £223,256 to raise a child from birth to the age of 18, research from Moneyfarm has indicated.

Achieving the status of a Dual Income, No Kids, or "Dink", can bring financial security and a comfortable retirement, even without the support of family dependency. Here, we introduce three couples who have made the choice to be Dinks, and explore how their decision impacted their lives.

‘You raise a child to look after you when you're older isn't what it's all about’

Leona Black, 45, and Gordon Bazeley, 48, met through an online dating site in 2010. It's now been 13 years since they started dating and 10 years since they got married. For their honeynmoon, they stopped work altogether and spent a whole year travelling across 25 different countries. 'This experience was particularly notable because our mates in their forties were mostly at home having kids,' Leona notes. 'We, on the other hand, were socialising with people half our age or elderly folk.'

When initially getting together, the possibility of having children was still on the table for them. Black was, in fact, contemplating maternity leave and how she would balance it with her self-employment. Nonetheless, they began to question their decision during their honeymoon.

“Recalling a conversation they had 'had over a beer in Bolivia,' Black explains that they only felt around 20 pc certain about wanting children. Upon closer consideration, they decided that their life is very fulfilling and didn't require significant change.”

Bazeley is also contemplating the financial implications. “If you want children and are considering private education, that's a costly prospect,” he explains. “We wouldn't want to work tirelessly for the rest of our lives; we'd want some time for our family, too.”

Since making that decision, Black and Bazeley have been able to ease off the pressure in their careers and salary expectations. Black works part-time as an educational psychologist earning approximately £40,000 per annum, and Bazeley works as a product manager in the sustainability sector, with a salary of around £28,000 a year, working two and a half days a week.

They chose to concentrate on part-time jobs so they could make the most of their youth and good health for travel. In June, they embarked on a month-long trip across Scotland in their campervan, accompanied by their two pet pugs. "You can't do that with children, unfortunately," said Black.

Prior to switching to part-time, Bazeley was earning a six-figure salary in a full-time corporate position. "We were saving a considerable amount of money," says Bazeley. "We don't have an excessively expensive lifestyle, apart from our holidays."

As a result, they have amassed a substantial reserve to fund a pleasant retirement and any care they may require in the years ahead.

. That’s not fair.”

Miss Black has experienced the loss of her parents and understands the difficulties this can pose for a child who usually has no siblings. "I wouldn't wish that on a child," she explains. "We'll be financially secure, anyway, so we'll be able to care for ourselves." However, she knows that in her situation, it won't be a family member who provides for them, but instead an individual who has been paid for the role.

Alternatively, they could consider moving into a large house with their friends. "It'll be like The Best Exotic Marigold Hotel," remarks Bazeley.

‘Having children isn't something that you should be considering that much.’

Helene and Michael Sula, both 37 years old, are a couple who met at high school. Having originally hailed from Dallas, Texas, they wed at 24 and, in line with their expectations, looked to start a family.

“'I recall the days when we were at university, writing notes to each other about having children as part of our future plans,' Helene says. 'However, as we grew older, our life objectives underwent a significant change.'"

Following a rock climbing accident which left her confined to the house, Helene was inspired to begin a blog documenting their European travels. After making a full recovery, they relocated to Heidelberg, Germany in 2016. Initially, having children didn't appear to be part of their plans.

I think at its best, having children should be something you genuinely desire and look forward to with enthusiasm," she says. "In all honesty, neither of us ever really felt that way.

As from 2023, the discussions about children became less frequent once I relocated to Oxford.

Michael is concerned about growing older and feeling a sense that he has missed out on experiences like having children and grandchildren. "That won't be there for us, so we'll have to find alternative ways to find value and enjoyment in our lives," he says.

However, they don't worry they won't have children to look after them. "We've both seen folks who are older, even they have kids, but it's not guaranteed their kids will look after them."

The couple are concentrating on planning for their future. In 2015, Helene terminated her job so that she could focus on her travel blog and social media full time. When they decided to emigrate abroad in 2016, Michael also forfeited his job and devoted himself to working full-time on their business venture. "It was a gamble," Helene remarks, "But we do tend to be open to taking risks."

Since then, the venture has flourished and the decision has brought a considerable return. Their annual revenue now exceeds six figures. This financial success has liberated them financially, affording them luxury foreign breaks from two to four times a month. They aspire to expand their property portfolio in the future, with plans for multiple residences across various countries.

“Being just the two of us, we feel very settled,” says Michael. “Not having children to worry about, we can put aside a significant amount for the future. That's what will secure us tomorrow – the effort we're putting in now.”

‘I strongly suspect that if I were to have a child, feelings of resentment would inevitably develop within me.’

At 27, Claire Davis had always anticipated becoming a mother in her early twenties. Following an ectopic pregnancy, however, she had a sudden change of heart: "For some, it might have sparked an appetite for having children. But for me, it made me think the exact opposite."

Following two preceding marriages, Claire met her husband James, 51, through mutual acquaintances in 2015. "I relocated to Ibiza to be with him relatively soon afterwards and we got married within the year."

They started talking about having children relatively early on and came to the same conclusion - bringing up a child wasn't something they both wanted. "I'm an entrepreneur, I want to be free," says Claire, 45. "I'd certainly end up feeling resentful if I had a child."

Claire reflected on the financial implications of raising a child. "I've got more financial independence than I would have had if I'd become a parent," she explained. "Watching my friends' expenses for their children, I conditionally feel our choice was justified, I tell James."

Currently, any savings the couple generates are funnelled back into expanding their business. “It's our joint venture, our joint baby,” states Claire. Their separate corporate careers pre-dated the launch of a thriving retreat business in Ibiza in 2012, one established by James.

Despite losing their business due to the pandemic, Claire and James have since regained their success. They now operate a successful six-figure coaching business and podcast referred to as "The Midlife Mentors", which generates between £10,000 and £20,000 on a monthly basis, while running retreats twice a year.

Lately, they've been contemplating their future plans. “Rather than continually investing in the business and expanding it, we've been pondering what kind of way of life we would like to be living within the next decade or so,” remarks Claire.

They currently split their time between London and Ibiza. Claire also owns a property in Surrey, but she is undecided about using their savings towards purchasing a second home. “We've got a substantial amount for a deposit,” she notes. “It's ironic – we don't know where we'd like to move to as yet.”

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