How Much Is Your Dad Worth?

It’s Fathers Day, a day honouring the role our Dads have played in shaping our lives.

Breadwinners, providers, protectors – these are just some of the words that may spring to mind when we conjure up the image of dads – past and present.  But can you put a number on how much are they worth?

Someone has tried…

Men earn more on average, but women are catching up!

While full-time earnings for men continue to surpass those for women by an average of 15%, women’s salaries are slowly edging up to close the gender pay gap and women aged between 20 and 29 are actually earning more (+0.3%) than their male counterparts.

Parent’s personal finances – protecting the present in order to secure the future

When it comes to modern families who are striking the right balance between the respective incomes of mum and dad, it seems that a modified breadwinner – where the mother works part-time and the father works-full time – could help lay the foundations for a financially secure future.

More than a third (38%) of Brits outlined this as the ideal way for a family with child under school age to organise their family and work life. And with the cost of raising a traditional 2.4 family totting up to £32,934 a year – including mortgage payments, the cost of bringing up baby, food shopping and more – mum’s income plus dad’s income has emerged as a good solution to a family finance equation.

Happy Father’s Day, Dad.

Source: Smart Insurance