Paying bills is a time-consuming process, and not one that is gender-specific in married households.
Whether you pay your bills online, or write checks to make payments, it is a process, and in most households, that process is handled by one person.
A June Investor Pulse survey of affluent investors by Millionaire Corner found that the husband pays the bills in 35 percent of married households, while the wife pays the bills in 30 percent of the households. Surprisingly, 28 percent of married households say both spouses take part in the process.
(It is humorous to note that 60 percent of the males surveyed said they pay the bills, while only 8 percent of females say the husband pays the bills. Conversely, only 12 percent of males say their wives pay the bills, while 50 percent of females say they do the work).
In households with a net worth of more than $5 million, 45 percent of the time the bills are paid by the husband, and 26 percent of the time they are paid by the wife. In households with a net worth of $100,000, the work is done by both spouses in 36 percent of the homes, while 28 percent are completed by the husbands and 27 percent by the wives.
In households where the investor is a corporate executive, 42 percent of the time the bills are paid by the husband, and only 22 percent of the time they are paid by the wife. However, among Business Owners, only 29 percent of the time the husband pays the bills and 33 percent of the time the wife does it. One-third of the business owners’ households report shared bill-paying duties.
The older the investor, the more likely the bills are paid by the man. Among investors over the age of 60, 46 percent of the time the husband pays the bills, but among those under the age of 40, the bill-paying is done by both spouses.
Among all affluent investors, 7 percent of the time the bills are paid by someone other than a spouse, most likely an accountant.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.