They have “the most spoiled dog in the world”. They go on vacation 10 times a year. They spend many hours a day on their favorite hobby.
According to a new Harris poll, they are DINKs, or “two-income, childless” people, the 5 percent of Americans who live like the new 1 percent.
“The data shows that DINKs are not just spending more, but spending differently, with an emphasis on partnerships and experiences that strengthen personal growth,” said Libby Rodney, chief strategy officer at Harris Poll. “We are making it clear that we are doing the right thing,” he said in a statement alongside the new poll. investigation. “This is a segment that has redefined discretionary spending as an investment in life experiences.”
@keslynhart from Duel Income No Kids era 💅✈️ #duelincomenokids #dinks ♬ Original song – keslyn hart
What is DINK? And why do they have so much money?
The term “DINK” has been around for a while, first exploding during the yuppie era (1980s). However, the issue has recently resurfaced, with Millennial and Gen Z couples citing the cost of childcare as a key factor by late 2023, putting off having children or avoiding them altogether. It quickly went viral on TikTok.
According to the Harris Poll, 61% of DINKs have household incomes above $100,000. The median net worth for couples without children in 2022 was about $399,000, more than $100,000 more than in 2019 and about $150,000 more than couples with children.
In fact, studies have found that while couples with children tend to earn more money, they end up with less net worth because they face more debt than couples without children. .
Can DINKs have children? it’s up to the couple
Research shows that 65% of Gen Z and Millennial DINKs plan to have children someday, and 37% aim to have a baby within the next five years. During that time, they spend money on luxury and premium experiences such as food, travel, and self-help products.
“The rise of DINKs is not a denial of parenthood; it is a generational response to economic trauma, turning financial security into the ultimate luxury,” Rodney said.
@erumyy is enjoying the dink era as long as it lasts #dinks #newyork #richieauntie #marriagehumor ♬ 6khhx_ Sound – ☆
There’s even an acronym for those planning to become parents: DINK. “DINKY” or “Both parents work and don’t have children yet.” If you are single, you will be SINK (single income, no kids yet) or SINKY (single income, no kids yet).
It’s unclear how many people actually use all of these acronyms. However, the DINK hashtag on TikTok has tens of thousands of posts and videos have been viewed tens of millions of times.
What does DINK spend money on? Luxury, travel and personal growth
The report calls DINKs the 5%, or the new 1%, reshaping consumer trends with their financial flexibility and higher discretionary spending. On average, they spend four times more on food each month than other Americans ($816 vs. $215) and allocate nearly twice their regular budget for vacations, about $2,000 per trip. Invest dollars.
A childless lifestyle encourages frequent travel and personal growth, with 88% directing their income toward enriching experiences and personal development, and 76% saying their childless status enables these pursuits. I think there are. This purchasing power positions DINKs as a prime target audience for luxury brands, financial services, and improved quality of life.
@littlemissremi And that’s what having a dinkwad child in your 20s is like 🤞🏼 #dualincomenokidswithadog #dog #puppy #dogsoftiktok #puppytiktok #dogperson #labsarethebest #baby #fyp #imcious ♬ DJ Fat Dog _ I Never Lie x Hollaback Girl – Randy Rogers
For the record, many DINKs have taken to calling themselves DINKWADs. In other words, “both parents work and their children do not own a dog.” This led to a video posted from the perspective of a “spoiled” only dog that went viral.
Pampering a beloved pet isn’t the only perk that DINKs attach to their lifestyle. DINK couples previously interviewed by Fortune said their choices were prompted by a variety of reasons, including pursuing passion, financial freedom, and focusing on their careers.
A report released by Credit Karma earlier this year echoed this sentiment, finding that a quarter of American women are delaying childbearing to focus on their careers, and that this number is higher than their partner’s income. is correlated with a high number of women.
@investwithnat Life as DINKWADs (No kids with working parents and dogs) 💕🐶 #DINKWAD #DINK #dinkwadsoftiktok #moneytok ♬ Cena Engraçada e Inusitada de 3 minutos – HarmonicoHCO
Why some people, including Elon Musk, oppose the DINK lifestyle
Still, the DINK lifestyle is not without its critics.
Tesla and SpaceX CEO and founder Elon Musk recently warned that society will “collapse” if young people don’t start having more children. The billionaire, who fathers 12 children with three different women, also said last month that people “worry too much” and “should just have kids”.
“I think people worry too much about having kids, and sometimes it’s hard to make ends meet,” Musk said at a pro-Trump rally in October. “But to be honest, there’s never been a better time. Just having kids. You won’t regret it. It’ll work out.”
While it remains to be seen whether societies will “collapse”, the report shows that falling birth rates could have an impact on overall GDP. James Pomeroy, global economist at HSBC, previously told Business Insider that the decline in GDP due to this aging could be as much as 4%.
Read more of Fortune’s coverage of DINK trends:
