Gone (for the most part) are the days when Father's Day means dad gets a new tie, a "You Go Grill" apron (or something equally lame) and then goes to grill his own meal.
The holiday has grown in importance and over three quarters (75.9%) of Americans plan to celebrate Father's Day this year. Consumers will spend a record $138.97 on average celebrating the holiday, up from $132.82 in 2018 and $91 in 2009.
Those in the 35-44 age group expect to spend the most at $197.66. That's an increase of more than $100 compared to what that group spent ten years ago. Men, on average spent more on Mother's Day and that's true for Father's Day as well where they will spend $160.74 compared with $118.29 spent by women.
The most money will be spent on "special outings" ($3.3 billion), followed by "clothing" ($2.5 billion), and gift cards ($2.3 billion). Greeting cards account for only $830 million in spending but will be purchased by the highest percentage of people (61.7%).
"Fathers, husbands, and sons can expect to feel the love this Father's Day," said NRF CEO Matthew Shay. "Over the past decade, spending on Father's Day gifts has increased significantly. Retailers are ready with gifts that will have no problem impressing dad."
How should you honor dad?
Sure, dad would enjoy concert tickets or tickets to a sporting event, but most fathers also want their children to practice fiscal responsibility. It can be tempting to break your budget to celebrate, but it's important to stay within your means.
Dad may no longer be thrilled by a homemade card or a macaroni necklace, but there are low-cost alternatives. You can barbecue cheaply or take a family trip to someplace inexpensive that dad likes (like the beach or a public park).
If you can truly afford it, spend whatever you like to honor your father or the fathers in your life. But when you can't build it into your June budget, make prudent, responsible choices to honor dad (or dads) in a deserving way without going into debt.
Author:Taryn Pinnaro Phone: 561-797-8927 Dated: June 10th 2019 Views: 51 About Taryn: ...
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