Are You a DEWK (Dually Employed with Kids)?

Never heard the term DEWK? You aren’t alone. Interpreted as a couple which is dually employed with kids, the term DEWK is used by advertisers and businesses to define their target audience.

You are probably more familiar with the acronym DINK – double income, no kids, or DINKY – double income, no kids yet. It should come as no surprise that financial circles use a number of such acronyms to categorize their marketing base. Perhaps one of the more entertaining is SITCOM – single income, two children, outrageous mortgage, a group with little purchasing power.

From the perspective of the investor, being tagged as one acronym or the other makes little difference. From the viewpoint of marketing professionals, it is a big concern. Companies target specific niches in the market. The products presented to singles are dramatically different than those offered to DEWKs.

Dual income generally leads to more discretionary spending, so advertising campaigns will feature both parents and their children. When targeting single parent households marketers may push the value angle more. It’s easy to see why marketers love DEWKs. With good buying power and lots of people to shop for, DEWKs are generally the base of any good economy. When they stop buying, the economy slows down.

The downside for many DEWKs is that putting aside money for retirement is often challenging. Good brokers will help such families begin savings plans and portfolios which will have the flexibility to pay for higher education as well as end of life care. A disciplined and early start will help these individuals meet their financial goals.

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