Saturday, April 30, 2011

Mom's: How Much Are They Really Worth?

With Mother's Day fast approaching, it's an enticing question: How much is a typical mom really worth?
How much is your mom worth?
We all know there's nothing typical about her, right?
So, you're hardly prepared to put a price tag on her and everything she does. She's priceless.
OK -- we'll grant you that.
But -- if only for life insurance purposes -- what if you had to come up with an annual worth for your mom?
Well, Fox Business took a typical mom's chores and costed them out according to how much a family would have to spend to pay professionals to do the same things.
They call this the Mother's Day Index. 
Here's what they came up with:

The Mother's Day Index 2011

Mom job BLS Occupation used Hours per week Annual Mom cost
Cooking Cooks 14 $6,934.20
Driving Taxi drivers and chauffeurs 9 $6,292.90
Helping with homework Other teachers and instructors 10 $7,140.00
Taking care of the kids Child Care Worker 40 $20,696.00
Nursing wounds Licensed practical and licensed vocational nurses 2 $429.60
Cleaning up Maids and housekeeping cleaners 10 $4,888.00
Planning parties Meeting & Convention Planners 1 $1,479.04
Summer activity planner Miscellaneous community and social service specialists 40 $8,724.00
Haircuts Hairdressers, hairstylists, and cosmetologists 0.5 $300.30
Shopping for the family Personal and home care aides 3 $1,579.50
Family finances Accountants and auditors 0.5 $619.45
Yard work Grounds maintenance workers 1 $562.90
Fixing up the house Interior Designers 0.50 $999.60
Finding out what the kids are up to Private detectives and investigators 0.50 $791.00

                                  TOTAL ANNUAL COST OF MOM: $61,426.00
Source: U.S. Bureau of Labor Statistics

Click here to read more.

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