How much are fathers worth?

Dads across the country have one more reason to celebrate this coming Sunday.

That’s because the annual Father’s Day Index released by Insure.com shows the 2013 value of fathers hit $23,344, up from $20,248 in 2012.

This is large part due to recent wage increases for traditionally male-dominated job positions. Drivers, coaches and plumbers, for instance, all saw their average pay rise in 2013.

Basically, the index takes the average wages of these types of jobs to assign values to the household tasks men conventionally complete. Based on the financial, average assessment of the chores, the survey reveals the market value of dads for the year. See the full task chart (bottom of page).

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In 2013, men were said to have taken responsibly for chores like moving furniture (worth $12.98 per hour), pest removal (worth $14.25 per hour) and fixing the house (worth about $18-to-$29 per hour). And overall, their labour was worth more than $23,000 for the year.

In contrast, the website says mothers saw their values decrease based on its annual Mother’s Day Index last month. That said, mothers still pulled in $59,862 for 2013.

It’s also crucial to consider household roles are switching across the globe. Though men are linked to sports, car maintenance and finances more often than women, many studies have revealed mothers are now the CFOs and leaders of most homes.

Read:

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As the study shows, paying the bills and keeping up the house are two of the least favorite tasks of fathers. Fixing appliances (6%), mowing the lawn (5%), family finances (5%) and car maintenance (4%) ranked much lower then their favourite chores. These include:

• Barbecuing/cooking: 22%
• Helping with homework: 17%
• Driving: 14%
• Coaching a team: 9%
• Assembly of bookshelves, toys: 9%

And if dads could shirk their tasks, they said they’d likely use extra time to spend time with family (36%), exercise (11%) and work (10%).

Read:

Retirement planning for older parents

Thanks, mom, for teaching me about money