Family planning has a significant economic impact on both individuals and societies. By allowing individuals to have greater control over the timing and spacing of their children, family planning can lead to several economic benefits.

Firstly, family planning can result in higher educational attainment and increased workforce participation among women. When women are able to plan their pregnancies, they are more likely to pursue higher education and participate in the workforce, which can lead to higher household incomes and greater economic stability for families.

Additionally, family planning can reduce the financial burden on families. By having fewer children or spacing out their births, parents can allocate more resources to each child, including investments in education, healthcare, and overall well-being.

Furthermore, family planning can contribute to overall economic development. When families have fewer dependents, they are better able to save and invest in economic activities, leading to increased productivity and economic growth at the societal level.

For example, a study conducted by the Guttmacher Institute found that for every dollar invested in family planning, the healthcare system saves $7 in costs related to unintended pregnancies and births.

In conclusion, the economic impact of family planning on individuals and societies is substantial. It not only leads to improved economic outcomes for families but also contributes to broader economic development and stability.