Legal & General have just released some research which finds that the unpaid work a Mum does around the home would cost £30,032 to replace (and the equivalent for a Dad would cost £21,306).
Here are some more nuggets ( to be used when you need them!) from the “Value of a Mum” survey :
– Despite many Mums working they still spend an extra nine hours a week with the children compared to Dads.
– Mums are still feeling that the burden of looking after the home falls to them, with 45% wishing that their partners would do more to help with housework and childcare.
– Even those mums who have part-time jobs don’t hugely reduce the amount of time dedicated to parenting – the value of part-time worker mums is £28,664 compared to the value of those who don’t work, £31,523
– The day to day costs of looking after children have gone up 8.3% over the last two years, rising from £132 a week to £143 and a massive 31% since 1999 when the figure was £109.
Mums do really important unpaid work around the home and they are increasingly combining this with a full or part-time job, which means that their families are getting pretty good value for their efforts!
The research highlights just how easy it is to underestimate the value of the unpaid work parents do and the importance of planning for a future where one parent may be unable to work due to illness or bereavement. It shows that 42% of mums and dads feel people should have financial protection in place in case anything were to happen to them, but in reality only a quarter (24%) of them actually do.
So where’s my 30k then?