How valuable is dad? We're happy to report that he's more valuable this year than he was last year.
For all that dad does around the house -- plumbing, BBQ grilling, mowing the lawn and other chores -- he's now worth $23,344. That's up from $20,248 last year, thanks to average wage increases for household jobs that dads typically do, according to Insure.com's annual Father's Day Index. (The index is based on wage data from the U.S. Department of Labor).
I'm sorry to bring this up (not really), but even though dad's value is rising, he's still worth less than half of what mom's worth (at least around the house): $59,862 in 2013.
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Moms shouldn't get too excited, however. Her value dropped from $60,182 in 2012, and from $61,436 in 2011, according to Insure.com's annual Mother's Day Index, which calculated the wages of household jobs moms typically perform, like cooking, cleaning and paying bills.
Sure, some dads may be insulted by their calculated $23,344 worth. In a survey of 500 dads with kids age 12 and under, more than half pegged their value at between $30,000 and $100,000.
Among dad's favorite household tasks:
- Barbecuing/cooking: 22 percent
- Helping with homework: 17 percent
- Driving: 14 percent
- Coaching a team: 9 percent
- Assembling toys, other things: 9 percent
- Fixing broken items: 6 percent
- Mowing the lawn, shoveling snow: 5 percent
- Doing family finances: 5 percent
If dads could hire someone else to do all their household chores, what would they do?
- 36 percent say they'd spend more time with family
- 11 percent say they'd exercise or play sports
- 10 percent say they'd use the extra time to go to work
Here's how moms think dads would use their free time:
- Hang out with family: 30 percent
- Watch TV or movies: 16 percent
- Exercise or play sports: 14 percent
Did I mention that mom's value was higher than dad's?
Also of Interest
- Record Number of Moms Outearning Dads
- Social Security Expert: 'We're Playing with Fire'
- Join AARP: Savings, resources and news for your well-being