19 June 2015

What’s the monetary value of a Dad?

Father’s Day is just around the corner (June 21), and it’s a great opportunity to show our dads just how much we appreciate everything they do for us.

And they certainly do a lot. From acting as a chauffeur to being the family’s personal chef, dads provide lots of valuable services. We take a closer look at how much would it cost if we had to splash out for all the things that doting dads do free of charge.

Chauffeur - £8,424 a year

Many dads joke about being unpaid taxi drivers, and driving kids to and from school, friends’ houses and clubs and activities can take up a lot of time. In fact, research by Goodyear found that parents spend an average of 3 hours 34 minutes driving their children around each week. With professional chauffeurs charging around £45 an hour, having dad as a driver saves families £8,424 a year.

Sports coach - £6,240 a year

Long before Alex Ferguson started working with David Beckham, Mr Beckham Snr was honing his son’s skills on the pitch with back garden kick-a-rounds.  Across the country dads are encouraging their youngsters to embrace their sporty sides, with recent research by The Brave Bones Club showing that for 46% of dads playing sports is their favourite way to spend time with their kids.

And with the hourly rate for sports coaches going up to around £60, according to SkillsActive, if a dad spends 2 hours a week training the next Wayne Rooney or Serena Williams they could save the family £6,240 a year.

Chef - £3,640 a year

Celeb chefs like Jamie Oliver and Gordon Ramsay have encouraged many men to take the reins in the kitchen in recent years. In fact, research into super dads by Jacamo, shows that 52% of dads cook for their family. If they spend at least half an hour whipping up culinary delights every evening, they are saving the family around £3,640 a year based on £20 an hour for hiring a private chef. Obviously if their grub is more Michelin star than beans on toast you’re getting an even better bargain.

IT consultant - £1,872 a year

Broken printer? Laptop won’t turn on? Who you going to call? In many cases it’ll be dad who acts as IT support, with research from TechGuys showing that PC repairs and general IT maintenance are in the top 10 weekly domestic duties for dads. And IT consultants don’t tend to come cheap, with an average hourly rate of £36  if dad spends just an hour a week providing tech help, it could be worth around £1,872 a year.

Housekeeper - £2,808 a year

Modern dads aren’t afraid to help out around the house, with a survey by the BBC Radio 4's Woman's Hour showing they do around 6 hours housework a week . With the average cleaner charging around £9 an hour, this adds up to £2,808 over the course of a year.

Childcare - £4,747 a year

The amount of time dads spend with their kids has increased significantly in the past few decades. Research by the Equal Opportunities Commission (now merged with the EHRC) showed that full-time working dads spend 8 hours and 20 minutes  a week on childcare. If they were being paid the going hourly rate for a live-in nanny, £11, this would add up to £4,747 a year.

Grand total

So just how much are our dear old dads worth? If you add up all the services provided over the year, it comes to an impressive £27,731 a year. And that doesn’t include all the money-can’t-buy extras that make a good dad priceless.

Make sure you make your dad breakfast in bed this Father’s Day – he deserves it!

At Nationwide, we’re here for you and your family every step of the way. For guidance around planning for your big life events, why not check out our range of family-focused guides?

Modern dads

Now you know how much your dad is worth, check out our UK Fatherhood in Numbers infographic to see how the role modern dads play in their kids’ lives has changed over time.

value of dad infographic

Most popular

Your Black Friday survival guide

11.11.16

Black Friday tips and tricks to take the stress out of your Christmas shopping so that you can concentrate on finding the perfect presents.

You may also be interested in...

Our helpful guides

We've created a range of helpful guides to help you make better financial decisions regardless of your circumstances. Find out more about owning property, growing wealth and planning for life events.

Our products

Whether you are after a current account, a savings account or even looking for a mortgage, Nationwide has a range of great products that could help you, no matter the situation.