The importance of meditation will always be described differently by different individuals because people have different lifestyles which result in different aspirations. E.g. there is a huge difference in aspiration of a CEO of a multi-national bank and a forest monk.
In ancient past, the main motive of meditation (dhyana) was to bring yourself Closer to Self. Hence, meditation is more about being aware of yourself, your mind and body. This awareness later helps on relieving stress, bring about concentration and helps balance a healthy sound life.
However, I believe your question is trying to target householders who are trying to improve quality of life therefore, I will try answering accordingly.
Most of our misery/obstacle is a result of our mind going out of our control. To illustrate, you are in an office trying to concentrate in an important task but your mind keeps thinking about clubbing in an upcoming new year party. You are completely overpowered and you can’t give your 100% to your work.
Through meditation one is able to tame one’s mind. So after practicing meditation (the art of taming of one’s mind), when you are in the office next time, trying to concentrate on an important task, your mind will visit the party less often than before. You will be in more control of your mind.
In this way, when you become the boss of your mind, you are in a better position to perform well in any professions or situations of a household life. The above illustration is only a surface level benefit of meditation which most practitioners experience immediately. However, when one’s mind becomes more tamed, the benefit becomes deeper.
You start feeling so peaceful inside and develop compassion to other sentient beings. Many health problems can also disappear… you appear more radiant….colours appear so rich…foods taste so delicious…you feel so much love towards your partner…..Benefits are boundless!!!