The Mother's Day Index: Mom's Value Down This Year. So What's For Dinner?
From bandaging skinned knees to balancing the checkbook to making sure the kids eat their vegetables, being is a mom is the mother of all jobs.
Perhaps because they know the demands of “mommying” firsthand, women place a higher price tag than men on the work that moms do at home, according to a new survey from Insure.com.
When asked how much they would have to pay someone else to do their tasks around the house, 56 percent of women -- compared with 62 percent of men -- said under $40,000 a year.
A smaller portion of women than men -- 11 percent versus 16 percent -- valued moms' household work at under $10,000 a year. And a larger portion of women than men -- 7 percent versus 3 percent -- valued Mom's tasks at $100,000 a year or more.Determining the cost to replace household tasks performed by Mom is important for estimating how much life insurance she needs. Marvin Feldman, president and CEO of the LIFE Foundation, says every mom needs life insurance coverage, whether or not she earns a salary outside the home.
How much mothers say they're worth around the house
|Mom's annual value||Percent|
|Less than $10,000||11%|
|$10,000 to $19,999||14%|
|$20,000 to $29,999||16%|
|$30,000 to $39,999||15%|
|$40,000 to $49,999||11%|
|$50,000 to $59,000||10%|
|$60,000 to $69,999||6%|
|$70,000 to $79,999||5%|
|$80,000 to $89,999||2%|
|$90,000 to $99,999||2%|
|$100,000 or more||7%|
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