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Father's Day wish list: what dad wants (and doesn't want) this Sunday

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Our shopping habits instinctively tell us to buy gifts such as clothes, alcohol and gift cards for Father's Day. But the best gift your dad can receive is priceless.

Research from MyState Bank shows that dads often receive Father's Day gifts they consider to be a waste of money or will never use. However, an invaluable item tops their 2019 wish list.

From a survey of more than 1000 adults, 90% of Australian dads want a family experience this Father's Day. And that experience doesn't have to empty your wallet - the bank's research shows the most impactful gifts are priceless and free.

In a separate survey, the Financial Planning Association of Australia recently showed that two in five Australians (41%) have re-gifted and it's a smart strategy to reduce waste and lengthen an item's lifespan.

Forget clothes, booze and gift cards - there's one thing most dads would be thrilled with this Father's Day. It's just a little hard to gift-wrap...

The FPA adds about one in three Australians bulk-buy gifts in advance as a way to save time and money. And although 73% of Aussies do not have a budget allocation for gifts, 81% think about how long a gift will last when they purchase it.

Australians plan to spend an average of $90 on Father's Day, and the MyBank research says 15% plan to spend more than last year.

The research also highlights that 60% of Australians find dads harder to buy for. This can be potentially put down to the disconnection between what dads want and what people expect to buy.

Clothes (31%), alcohol (30%), and gift cards (27%) are among the most popular gift ideas for Father's Day, the MyBank research says. Experiences like skydiving sessions or cooking classes were least popular.

MyState Bank general manager digital and marketing Heather McGovern says for those who prefer to buy a gift for dad 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".

"This Father's Day, really focus on spending time together and having fun as a family," says McGovern.

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Darren Snyder is the managing editor of Money magazine. He is a former editor of Financial Standard, where he had worked as a journalist, predominantly covering superannuation. Previously a mining and wine industry reporter at the Mudgee Guardian, Darren was awarded the Sir Harry Budd Memorial Award for Australian Country Journalism in 2012.
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