Women Are Earning More Money, but There's One Big Problem

Unfortunately, a gender wage gap still exists. Women, as a whole, are paid less than men. But a recent study found that in opposite-sex marriages in the U.S., the number of women who earn as much or significantly more than their husbands has nearly tripled in the past 50 years. While this is excellent news in the fight for financial equality, there's one issue: Many married women still spend more time on contributions at home than their male partners do.

Husbands spend more time on paid work and leisure

The Pew Research Center examined the financial contributions of opposite-sex married partners in the U.S. The study found that many women now earn as much or more than their husbands. This shows that some progress has been made. Here are some notable stats regarding the financial contributions of married couples in the U.S.:

• In 29% of marriages today, both spouses earn about the same amount of money.
• In 16% of marriages today, wives are the sole or primary breadwinners.
• In 55% of marriages today, husbands are the primary or sole contributors to a couple's earnings. Fifty years ago, husbands were the breadwinners in 85% of marriages.

Wives spend more time on household chores and caregiving

But even as married women earn more money, they're still shouldering more of the household responsibilities while husbands spend more time on paid work and leisure.

The same study found that in egalitarian marriages, where both spouses earn about the same amount of money, and in marriages where the wife is the primary earner, women continue to spend more time on housework and caregiving tasks than their husbands do.

In egalitarian marriages, husbands spend about 3.5 hours more per week on leisure activities than their partners. Wives in these marriages spend roughly 2 hours more per week on caregiving tasks than their husbands do, and 2.5 hours more on housework tasks.

The only marriage type where husbands devote more time to caregiving than their wives is one in which the wife is the sole breadwinner. In these marriages, wives and husbands spend about the same time each week on household chores.

The study also found that 57% of U.S. adults feel what men do at work is valued more than the contributions they make at home. This statistic shows that more progress needs to happen for a more balanced approach to sharing responsibilities in opposite-sex marriages.

Talk about your expectations before you get married

When deciding whether to share a life with someone, you should ensure you're both on the same page. Talking about your expectations before you walk down the aisle is best. Discussing career goals, family planning goals, financial responsibilities, household chores, and caregiving responsibilities is necessary when looking for a life partner.

Even something as basic as deciding if you'll have a shared bank account or separate checking accounts is something you'll want to discuss. Figuring out these details early in your relationship can help avoid resentment in your marriage.

Are you unhappy with where your finances stand? It's never too late to improve your financial situation. If you want to boost your financial knowledge before you say "I do," review our free personal finance resources.