Infographic: How men, women divide money-related chores
By Kristin McGrath and Juan Rodriguez
Half of couples jointly share household financial responsibilities, according to a March 2013 survey by TD Ameritrade and LearnVest. But how they divvy up financial chores varies by gender.
While women tend to take the reins on day-to-day financial decisions, grocery purchases and household budgets, men tend to volunteer for long-term financial planning tasks (such as investing decisions and retirement savings) and yearly tax returns. The graphic below shows the percentage of male and female respondents who said they were solely responsible for various tasks.
The survey also looked at how complicated combining finances is for modern couples. Because couples are marrying later in life, each partner brings various assets and obligations to the table -- and that's worrisome for newlyweds: 40 percent of respondents said they do not completely trust their partner to manage their joint finances.
"With the median age for first-time marriages approaching 30, combining finances is not as simple as it once was," said Carrie Braxdale, managing director of investor services at TD Ameritrade, in a news release. "Couples are bringing more financial baggage into the relationship than ever before. They have 401(k)s, student loan debt, investments and even mortgages. "
See related: Love me love my debt? No way, poll says
To use the graphic on your site, use the following code:
Published: March 14, 2013
- Young consumers most cautious about online payments – A survey shows that showing that young consumers are the most cautious when paying for their purchases ...
- Digital wallets: Merchants to pave the way for consumer acceptance – Despite security concerns, more Americans are willing to use digital wallets, if merchants oblige ...
- Infographic: Debit, credit cards still killing off checks – The Fed’s 2015 shows checks account for only 12 percent of U.S. noncash transactions compared to 16 percent in 2012 ...