A report by Young Invincibles explains why millennial parents are having a harder time financially than previous generations.
For one thing, childcare and education costs have increased to 18% of the total cost of raising a kid, from just 2% in 1960.
What's more, as the Washington Post points out, the average 18- to 34-year-old today makes about $2,000 less than they would have in 1980. And many millennial parents are still paying off their own student loans, making it difficult to put money away for their kids' college education.