Many families have had to adapt to a changing economy, but one author believes that the biggest change is a shift in gender roles.
Liza Mundy, author of “The Richer Sex,” cites research to show how women are financially overtaking men in today’s economy in both the U.S. and worldwide, according to NPR.
The book says that nearly 40 percent of U.S. working wives earn more than their husbands.
The book also says that jobs held by women are managerial and professional, they earn a majority of the college degrees and shifts in the economy favor female dominated fields in the long term, according to NPR.
“The Richer Sex” features a paralegal named Jessica Gasca whose husband quit his job to care for their kids.
“They see me as the father,” Gasca told Mundy.
The children call on Gasca’s husband, Juan, for anything from a glass of water to help with homework.
The book details persecution Juan Gasca receives from his in-laws, who label him a loser and a slacker.
“Sometimes I fantasize about, like, leaving her because I want to feel masculine again,” Juan told Mundy in the book.
There is one thing that Mundy believes caused the rapid shift in gender roles in the U.S.: The Pill.
Women began focusing more on their careers after the ability to delay marriage and childbearing became an option, which helped spark the trend of role reversal 50 years ago, Mundy told CNN Money.
In Dallas, the average young woman in her 20s earns $1.18 for every dollar earned by a male. The rate is $1.14 in Atlanta, according to the book.
There is nothing to stop women from out-earning in more than 50 percent of U.S. households, Mundy told CNN. Law and medicine may be female-dominated in 25 years, she said.
Other studies show a gap in how men and women view finances in the home.
A recent poll from the Royal Bank of Canada shows that women are more worried about saving for immediate needs than long-term investing. They also focus more on paying off debt than men.
"The differing attitudes of women and men about savings and investments have a real impact on their financial futures," Jason Round, head of financial planning support for RBC Financial Planning, told the Calgary Herald.
EMAIL: [email protected]