For some, April means spring and warmer weather, while for others it means the mad dash to get your taxes done. Whether you got a refund or had to pay back, money management was on the brain this month. For moms who already run their household like a corporation, however, they’re not worried– they’ve got this.
According to new data from The Research Moms, 63% of moms manage household payments and budgets. Moms are the purchasing decision maker in the vast majority of families, and these modern moms are taking more control of financial tasks. On a daily basis, they are deciding what to buy, how much to spend and when to do it. Not only are moms planning and budgeting for the whole family, but well over half are also in control of their own separate finances. For those moms who are either married or in a committed relationship, 60% said they have a credit card or bank account separate from their spouse/partner.
Moms are driving retail strategies and marketing initiatives because of their decision making, spending power and active social media habits. With strong mobile tendencies, these household CEOs are within reach just about every minute of every day.
How the study was conducted:
The Research Moms conducted a national online survey of 540 mothers with children age 21 and under in February 2015. For more on The Research Moms, click here.