Couples in Their 30s Richer Than Others
By Yoon Ja-young
Staff Reporter
Couples in their 30s are earning more money than couples in other age brackets, reflecting a high ratio of double income couples in this group.
According to the National Statistical Office (NSO), the monthly income of the heads of households in their 30s averaged 3.52 million won in the second quarter, falling a little short of those in their 40s making 3.54 million won, and those in their 50s with 3.65 million won. Included in this average income is not only earned income, but also other forms of income, such as interest for savings, dividends from stocks, and rent.
When it comes to earned income, however, young couples were richer than any other age group. Couples in their 30s made 2.50 million won in earned income on average, higher than couples in their 40's with 2.19 million won and those in their 50's with 1.61 million won.
The higher earned income of this age group reflects the high ratio of double income couples among the young. Spouses of household heads in their 30s earned 476,000 won on average. Those in their 40s, meanwhile, earned 418,000 won, while those in their 50s made only 268,000 won.
Recent statistics by the Bank of Korea showed that the probability of a married woman choosing to work peaks at the age of 37. Ones with higher education are also likely to stay in the job market.
An increasing number of young men also prefer their wives to work. A survey by Duo, a matchmaking company, showed that only one out of three single men do not care about their wife's income. The others prefer becoming a double income couple.
As young couples make as much money as others, they are also spending as much. The statistics showed that those in their 30s spent 2.37 million won a month on average in the second quarter, falling a little short of the 2.43 million won for those in their 40s. Those in their 50s spent 2.31 million won on average.
Young couples spent 157,000 won on maid services, roughly twice as much as older couples.