(CNN) – You can’t put a price on dear old dad, but it turns out you can put a price on all the great things he does.
Celebrating Father’s Day this weekend? He’s certainly been pulling his weight. Typical “Dad” jobs around the house are worth about $24,000. That’s the highest economic value since Insure.com starting this index in 2011. It includes common household tasks like fixing the car, mowing the lawn, coaching a team, and even squashing bugs.
But Dad’s value is no match for Mom’s; Insure.com also calculated this index for mothers. It found Mom’s usual tasks around the house this year were valued at nearly $63,000, so almost three-times as much as Dad’s.
Maybe that helps explain why we spend more on Mom than on Dad; Father’s Day is actually the smallest of all the American gift-giving holidays.
The National Retail Federation says the average person will spend about $113 on gifts for Dad this Father’s Day. That’s down slightly from last year. For Mother’s Day, Americans were predicted to spend an average of $162.
Total Father’s Day spending is expected to reach $12.5 billion. That’s $7 billion less than Americans were predicted to spend on Mother’s Day.
We hope you’ll still have a happy Father’s Day!