3/1/13
Balancing work and family is the top challenge 54% of working mothers face in 2013, according to Chase Bank and Working Mother Media. Only 14% of working moms think they are currently both a good mom and a good employee. That said, working moms prioritize being a better mother (29%) over being a better employee (2%).
Nearly half of working moms (46%) say a key challenge in 2013 is to pay off debt. Among the goals for working moms in 2013 are saving more money than last year (56%), making more money (54%), paying off debt (46%), and putting more money into their kids’ college education funds than they did last year (36%).
Almost one in four working moms (23%) expects to get a raise this year, 16% will get a new job with better pay and more responsibilities, and 13% expect to receive a promotion. Nearly six in 10 moms (61%) would prefer to receive a 20% raise and continue working than take a year off from work. However, 25% wish they didn’t have to work “most or all of the time.”
More than three in four (79%) are confident they will be better off financially in 2013 than they were in 2012.
Meanwhile, 59% of working moms say they manage household expenses alone, and 76% of that group say they are doing so successfully. The majority of working moms (94%) believe it’s extremely or very important to teach their kids to manage money, with their preferred lessons being to teach them to look for bargains (64%), teach them basic arithmetic and investment techniques (50%), and teach them to build a budget for things they want and need (49%).
Sources: Chase Card Services, Erin Smolenski, 201 N. Walnut St., Wilmington, DE; 302-282-8460; erin.smolenski@chase.com; www.chase.com.
Working Mother Media, Jennifer Owens, Editorial Director, 2 Park Ave., 10th Fl., New York, NY 10016; 212-779-5000; jennifer.owens@workingmother.com; www.workingmothermediainc.com.
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