Figure Out Your Worth As A Homemaker
Or at least, Investopedia can.
If you’re a stay-at-home mom, you know as much as anyone what it takes to run a household. Keeping the house in order and prepping breakfasts, lunches and dinners are nothing to sneeze at — but those tasks are just the tip of the iceberg.
As a stay-at-home mom, you’re probably also shuttling kids to and from activities, helping them with homework, entertaining other people’s kids after school … the list goes on and on.
So, have you ever taken the time to sit down and do the math? If your family had to hire someone to do all the tasks that you take on in your daily routine, how much would it cost?
The way Investopedia did it was to only take into consideration those tasks which had a monetary value assigned to them, then they used the lowest value for each calculation.
[Related: Young People Moving Back Home in Droves]
Here’s what they found:
- Private Chef: The American Personal Chef Association reported that a personal chef makes between $200 and $500 per day. Grocery delivery services charge a fee of $5 to $10. Total cost for services: $1,005 per five day work week x 52 weeks = $52,260 per year
- House Cleaner: Professional maids or house cleaning service providers charge by the hour, number of rooms or square footage of the home. For example, twice weekly cleaning of a 900-square-foot, two-bedroom apartment with five rooms costs somewhere between $59 and $124. Total cost for services: $118 per week x 52 weeks = $6,136 per year
- Child Care: The International Nanny Association’s 2011 survey found that nannies make on average $600 to $950 per week in gross wages, plus perks including health insurance, paid vacation and sick days, as well as dental and vision coverage and bonuses. Total cost for services: $600 a week x 52 weeks = $31,200 per year
- Driver: Companies like Red Cap provide personal drivers that use the client’s own car as the means of transportation. An elite membership, which includes 365 days of unlimited, round-trip service is $1,000 a year plus 33 cents to $2.03 per minute. Total cost for services: $1,000 per year + (estimated miles driven 8,000 miles/50 MPH) x 60 min/hr x $.33 per minute] = $4,168 per year
- Laundry Service: Susie’s Suds Home Laundry Service, Inc. in Texas charges $0.90 to $1 per pound to wash, dry, fold, hang and steam your clothes. Items that take longer to dry, like comforters, blankets, rugs and winter clothes are assessed at $12 to $15 each. Total cost for services: $0.90 per pound x 4 pounds of clothes per day x 5 days per week x 52 weeks = $936 per year
- Lawn Maintenance: It’s possible that a stay-at-home mom would take on the duties that most lawn care services do, like mowing, debris removal, edging and trimming the lawn. Services like these cost, on average, $30 per week. Total cost for services: $30 per week x 52 weeks = $1,560 per year
[Related: Real Estate Advice From Moms]
So what’s the overall damage? In their estimation, according to the numbers above, a homemaker who takes on all these duties would be worth around $96,260.
It’s great that Investopedia did all the work here, but we have one better. Our “What’s Your Mom ‘Salary’ Worth?” calculator below allows you to input your own numbers to determine how much you would have to pay someone else to do everything you do around the house — whether you’re a stay-at-home mom or not.
Go ahead, take a stab at it. You know you’re curious …
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