A survey from MyState Bank found 48% of dads have received a Father’s Day gift they would consider a waste of money, while half have received a gift they’ve never even used.
The study of 1,001 people also found Australians are planning to spend an average of $90 on Father’s Day this year, while 15% of respondents said they are planning to spend more on dad than they did last year.
Dads can be tough to buy for though, evidenced by six in ten respondents admitting they find it hard or very hard to find a gift their dad will appreciate.
Keeping it simple appears to be the way to go for, with clothes (31%), alcohol (30%) and gift cards (27%) the most popular gift ideas.
Unique experiences like a skydiving session or cooking classes came in as least popular, so perhaps avoid Mum’s advice to think outside the box.
MyState Bank’s General Manager Digital and Marketing Heather McGovern said to focus on spending time together as a family this Father’s Day.
“Our research shows that the most impactful gifts are priceless and free,” Ms McGovern said.
“For those who would like to buy a gift for their Dads this year, consider it carefully to avoid splashing out on something that is likely to end up being returned or shoved at the back of the wardrobe.”
Sons spend more than daughters
Research released in May by Suncorp found that sons on average spend $106 on Father’s Day and Mother’s Day compared to $93 on average by daughters.
While this finding may have caused heated discussions in households around the country, the research also showed daughters tended to be better at planning ahead and budgeting.
Meanwhile, research released this week from the Financial Planning Association of Australia (FPA) revealed Australians spend $19.8 billion buying gifts each year.
For those who need a reminder, Father’s Day is this Sunday, September 1st 2019.