A new poll, released today by Working Mother magazineand Chase Card Services, reveals that as the family’s CFO, 59 percent of working mothers say they manage household expenses alone. This is compared to 30 percent of working mothers who say they manage household expenses in a joint effort with their spouse and 11 percent who say their spouse manages household finances. Still, three quarters (76 percent) of mothers say their household finances are managed successfully. The Working Mother and Chase SlateSM Life of a Working Mother: Career, Family and Finances survey was fielded by Working Mother magazine among 822 working mothers nationwide between Dec. 7-19 about their expectations, challenges, and goals in 2013. According to the survey, when given the choice, a strong majority (61 percent) of working mothers would prefer to get a 20 percent raise and continue working rather than take a year off from work. Only a quarter (25 percent) of working mothers say they wish they didn’t have to work most or all of the time. More than half (55 percent) are predominantly career oriented and do not work for financial reasons alone. Jennifer Owens, editorial director, Working Mother Media, said, "The dynamic structure of household duties is constantly in flux, especially as the number of dual-income families has risen. It's not surprising, then, to see more and more career-oriented working mothers taking the lead on their family's finances." Looking into 2013, working mothers are optimistic: More than three quarters (79 percent) of working mothers say that they are confident they will be better off financially in 2013 than they were in 2012. Working mothers strive to be and have it all "Being a successful employee, improving household finances and providing a better future for her children are top priorities for every working mother,” said Rachana Bhatt, director, Chase Slate. “Yet, just like all of us, working mothers face certain challenges in reaching their financial goals."
Steve Ricchiuto, MZUHO Securities chief economist, and Bob Michele asset management global CIO with JP Morgan (JPM), joined BloomberTV's 'Bloomberg GO' to discuss the economy and the Fed raising rates.