Scary reason young Australians aren't having children and it could have big implications for the country

New research has found that an alarming number of young Aussies are choosing not to become parents, blaming the current cost of living crisis.

More than half of 18 to 34-year-olds are choosing not to have children due to financial challenges, according to data compiled by Australian research firm RedBridge. 

The data came from a survey of 2,000 Australians from the Millennial and Gen Z cohorts. It showed that only 35 per cent are university-educated and just under half don't own a home. 

RedBridge director Kos Samaras said today's youth is postponing life decisions that previous generations made without much thought.

The country's birth rate is currently at 1.6 babies per each woman, well below population replacement levels of 2.1.

The government has said it is is looking to boost the dwindling population by easing cost of living pressures so young Aussies will find it easier to have families.

Millennial Laura Henshaw, 30, has been discussing the issue regularly on her aptly titled podcast titled Do I want kids?

She said in doing her podcast she has spoken to more than 1000 people who aren't sold on becoming parents because of money issues. 

Mr Samaras explained financial strains were the largest hurdle that was preventing many young people from even contemplating starting a family.

'The amount younger people have to pay out on mortgages or rent, they've also got HECS debt and are often living beyond their means,' he told news.com.au.   

Mr Samaras said it could take young people until the 30s or 40s to become financially stable.

He said there will likely be a surge of people starting families later in life because having a baby in this economy could be financially crippling.    

Another millennial Sam, 29, said she is open to having kids, but she said she needs to clear her $100,000 HECS debt and own her own home first.

'You know, I can't even afford grated cheese, that's like $12 a bag these days,' she told ABC News on Tuesday.

'It's the farthest thing from my mind right now. Which is ironic, considering my mum probably had me at my age.' 

 Treasurer Jim Chalmers told The Morning Edition last month that 'it would be better if birth rates were higher'. 

'I think people are leaving it later. And sometimes that means you get timed out. But there are a whole range of reasons people's preferences are changing. It's expensive to raise kids,' he said.

But now some women are questioning whether they even want to have kids at all. 

Late last year, Australian model Ellie Gonsalves, 33, went viral for sharing a list of 117 reasons she didn't want to have children.  

She stressed that the list was very 'personal', but after years of being asked why she didn't want to be mum she decided to post the comprehensive list online. 

Among her reasons were: post partum hair loss, the baby may poo inside you, your vagina will be different, your house will never be tidy, childbirth can cause rectal prolapse and you miss out on things you love doing. 

She also noted that kids are your responsibility until you die, they can be rude, they can be bullies and they can turn into a serial killer.

'I have already received hundreds of DMs criticizing me tellling me how much of a horrible and broken person that I am,' the reality star said. 

'And while some of those things on my list are satirical, many are serious and factual. Societal pressure when it comes to this topic are truly questionable and I believe unfair towards those with differing opinions.  

'Very rarely do we see a voice in support of this, because let's face it, the public backlash can be too much.' 

The list caused such mass outrage, that she ended up on The Project justifying her right not to have children.

Ms Gonsalves said she can see why women aren't sold, saying that having a baby today is different from 20 or 30 years ago. 

'From conversations with friends, it's evident that many women are choosing to remain child-free due to a combination of concerns,' she said.

'When considering having children in Australia's current economy, people face several significant problems, such as job insecurity, high cost of living, childcare expenses, educational costs, work-life balance issues, mental health challenges, environmental concerns, lack of social support, and insufficient government policies.'