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StitcherFewer expenses? Maybe. Fewer money decisions? Not a chance. Living childfree comes with its own set of financial choices, and we’re here to help you make them wisely. In this episode, Jen and Jill, together with Jay, explore the childfree life—what it’s like and how to budget better so you can live your life to the fullest!
We have not as a society gotten to understand that there’s so many people out there that are child-free but our system is based on the American dream.
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Jay Zigmont, PhD, MBA, CFP® is the Founder of Childfree Wealth, a life and financial planning firm dedicated to helping Childfree and Permanently Childless people. Childfree Wealth is the first (and currently the only) life and financial planning firm dedicated to serving Childfree people.
Money Management: Childfree vs. Parents
When it comes to money management, Jay emphasized that childfree individuals and parents have different goals. It’s not about being better or worse—it’s just different. Those who are childfree may have less priority on how much money to pass on but can experience a midlife “childfree crisis,” wondering what to do with their money.
Therefore, he recommends saving and investing toward the life you want to live. Since childfree people are less likely to focus on retirement, he suggests identifying your main life goal if it’s not retirement. For childfree individuals, his mantra is: life first, finances next.
The Gardener and The Rose
For couples who choose a childfree lifestyle, it can be challenging to have two careers happening simultaneously and in the same place. One is usually in a higher position over the other. Jay introduces the concept of “The Gardener and The Rose,” where couples take turns in the role, making a conscious effort to support each other’s growth.
In this concept, awareness plays a crucial role because selfishness is intentional, knowing that they’ll each have their season. During these times, good communication may help your partner thrive even more.
Biggest Money Mistakes for Childfree People
Since the childfree lifestyle is less common, people in this group often feel pulled back into the standard “American Dream” because of culture, tradition, and societal expectations. Jay suggests recognizing that you’re on your own unique path instead.
For singles with no kids, Jay reveals that living alone can be more expensive since they don’t have the option to split bills like couples. Society isn’t designed with singles in mind, which can leave you with endless choices that can become overwhelming. So he recommends having an accountability partner (can be a friend) to help navigate financial decisions.
How to Spend The Childfree Lifestyle
Jay points out that we spend more time talking about spending than saving. For him, teaching how to spend wisely is harder because child-free individuals don’t have future generations to consider and likely don’t want to die with millions.
So he suggests creating a plan, setting a minimum spending goal for what matters most, and aiming for a “die with zero” approach—not dying with zero, but knowing how much excess you have and using it for things you’re passionate about.
What is your favorite way to spend money?
- Jay: Video games.
- Jill: Traaaaavel!
- Jen: Food!
Get more from Jay
Website: https://childfreewealth.com/
Instagram: @childfreewealth
Bill of The Week
Thank you Jay for sharing your bill about your streaming services. And not wanting to pay for apple anymore because they don’t have a ton of shows.
Thanks so Much for Listening!
Thanks so much for listening. We love love love reading your kind reviews of Buy What You Love Without Going Broke and we especially loved this one from:
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I wasn't in debt so I thought I was responsible with money but I wasn't investing, I barely had enough to cover an emergency, I was mindlessly spending on stuff that didn't matter. Buy What You Want Without Going Broke is a wonderful book that talks about how to shift your mindset regarding the money you spend and what you want your money to be able to do with you. I now think about each purchase and if it's something that is in alignment with what I want in life. Is this helping me towards my goals? Is this something that I value? Buy What You Want Without Going Broke is more of a mindset shift than a "how to save money" book although it talks about that too. If you feel like you have struggled with money and how you spend but you want to get your finances in order, this is a great book to read! I would also highly recommend listening to the Frugal Friends podcast too!
If you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.
And keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 
