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Women Now Main Breadwinners for Household

 

 

For the first time ever, statistics are reporting that women are the main breadwinners for the family.

A study done by Prudential revealed that 53% out of the 1,400 surveyed said they are the highest salary earners in their families. Around 40% of those surveyed were divorced or single and almost a quarter of the married women said they earned more than their husbands.

Some of the increase comes because partners lost jobs or lower wages because of the downturn in the economy. Many of the women reported that they weren’t necessarily making a lot of money, instead they were just making more than their partners right now.

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“While our past research focused on women who are primary or joint financial decision makers, this new data shows that consistent with demographic trends and reflecting the impact of the financial crisis, the majority of women today are financially responsible for generating their own and their families’ income,” said Susan Blount, senior vice president and general counsel for Prudential, in a press release.

Women Still Uncomfortable Making Financial Decisions

However, the main money role doesn’t necessarily come with comfort in managing the money.

According to The Huffington Post, “Only 23 percent of female breadwinners said they felt equipped to make financial decisions, much lower than the 45 percent of their male counterparts who said they did.”

Although many of the women run the household finances, they reported being uncomfortable making bigger investment decisions for themselves or the family.

Image: Imagery Majestic

Along with being a contributor to PrimeParentsClub.com, Jacqueline Wilson is: Appalachia Advocate~Supporter of Women~Writer~Accidental Pit Bull Advocate. Founder and executive director of Monkey Do Project and co-author of 50 Shades of Frayed: What Happens When 'I Do' Becomes 'Not Tonight': A Humorous Mompilation.