What are your plans for Father's Day this year? Will you be taking your dad out to dinner or buying him a tie? Or, will you be taking a walk or a hike with your dad?
Spending
This year, 77 percent of Americans will celebrate Father’s Day and spend an average of $133 per person, treating dad to special outings, clothing, gift cards, electronics, and more, according to a survey prepared for the National Retail Federation.
The expected spending is second only to last year’s $15.5 billion, the highest in the 15-year history of the survey at an average of $135 per person. Consumers between 25 and 34 years old will be the biggest spenders this year at an average of $188 per person.
Dads
Here are facts on fathers from the U.S. Census Bureau:
[Source: U.S. Census Bureau]
Additional facts on dads
- Six in 10 men are fathers.
- 24.6 million fathers living in married-couple family groups with children younger than age 18 in 2016.2
- 54 percent of fathers have only adult children who are at least 18 years old.
- 2 million single fathers in 2016 living 46 percent of fathers have at least one minor child who is less than 18 years old.
- 72.2 million fathers across the nation in 2014.
- 14.6 percent of fathers age 15 and over have children with more than one person.
- 29.2 million fathers are also grandfathers, one in four men.
Child support payments
- About one out of every five custodial parents were fathers, 19.6 percent, in 2016.
- $2.8 billion of child support was received by custodial fathers in 2015; they were due $5 billion.
- 35.5 percent of custodial fathers received all child support that was due in 2015.
Whatever your plans, I hope you have a great day with your dad, if he lives close enough for a celebration or outing.
