Financial Responsibilities of Fathers

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What role do you play in your household? What are your responsibilities? For more than seventy million fathers in the United States countless responsibilities are assumed, especially when it comes to the well-being of their family. Even though many households today consist of two-income families, a lot of the financial, physical, and spiritual stress can fall on the man of the house. After all, who taught you how to ride your first bike? Who was there to make it all better when you fell and scraped your knee? Who took you to the daddy-daughter dance at your school or church? Who taught you how to throw a baseball? Who tucks the kids in bed and kisses you good night? Not only can fathers and husbands be looked to for being strong role models that provide the significant mental and emotional pillars of love, guidance, security, support, and wisdom but they also take on vast financial responsibilities as well.

Today, it’s estimated that Americans spend over one billion dollars each year on gifts for Father’s day to show their appreciation for taking on these responsibilities and providing for their family… but what does a FATHER spend on HIS family for the other 364.5 days of the year? According to the newly released estimates from the U.S. Department of Agriculture, it will cost a middle-income couple $245,340 to raise one child born in 2013 to the age of eighteen and this doesn’t even include the cost of college! Of course, this amount can vary widely depending on location, income, and number of children in the household. Nevertheless, let’s take a look at JUST A FEW things that a father may be financially responsible for providing to his family:

  • Basic Needs- food, water, clothing, housing
  • Health care- insurance for family/dependents
  • Child care and Education- day care, tuition, educational materials, transportation
  • Future Security- college tuition, retirement, will or testament to family, life insurance
  • Miscellaneous- transportation, lessons, leagues/teams, concerts, vacations, trips, toys, candy, ice cream, gifts, video games, technology, etc.

You must admit, these are FAIRLY important aspects in life (food, housing, AND CANDY) and this list only scratches the surface of responsibilities that a father may undertake as an important contributor or head of the household! Father’s Day is a time to say thank you to fathers who accept all of these duties and more. So how can we repay them? Remember, saying “thank you” is free of charge but is a simple phrase that can be worth more than you know! How will you celebrate Father’s Day?

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Resources: www.history.com, www.money.cnn.com

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