MIAMI – Father’s Day spending could break records this year.
Spending is expected to reach nearly $23 billion this year, which would be an all-time high, according to the National Retail Federation. It’s predicting people will spend a record $196.23 on average.
But celebrating Father’s Day doesn’t have to be expensive.
“There is no better time to spend your money wisely than on the men in your life that you love,” said Jessica Allen with the “Living Well, Spending Less” website.
She has some tips to help you save money while still expressing your love and appreciation for dad.
Number one, be intentional.
As you might expect, some of the most popular gifts this year are clothing, gift cards, and personal care items. Allens said you may want to consider crafting a heartfelt personalized gift instead. It may be cheaper and it’s certainly more thoughtful than a store-bought item.
“Get really specific. Do you have a movie buff? Can you plan early to go see a summer blockbuster,” she said.
Number two, ditch the restaurant and host a grilling session.
Allen suggests buying a cut of meat or a veggie he loves and have it ready for a weekend celebration along with a playlist of all of dad’s favorite songs
“Just ask him, would you like to grill for us or would you like us to grill for you? You’re gonna save so much money when you plan and have that beautiful meal at home,” she said.
Number three, plan a memorable experience.
Allen said take dad on a hike, picnic, fishing trip, or any other activity that he enjoys.
“For these men, love is spelled T I M E and so how can you carve out some time in your weekend to spend some quality time with the fathers in your life,” she said.
Finally, consider a group gift.
If you have siblings or other family members who also want to celebrate Father’s Day, consider pooling your resources and purchasing a joint gift. This way, you can contribute a reasonable amount individually while collectively giving your father a more significant and meaningful present.