Dads worth additional £17,000 to families

Dads are spending more time at home and are becoming more actively involved in a range of domestic chores, as well as taking on a greater role in childcare. This unpaid work is worth up to £17,000 a year, according to new research by The Children's Mutual. This is on top of the contribution to family life that a working dad's salary provides.

According to leading Child Trust Fund provider, The Children's Mutual, today's dads undertake a wide variety of tasks in and around the home, such as cooking, assembling toys, acting as the children's taxi service, doing the school run, organising family finances and doing DIY.

It is the children that really benefit from dad's helping hand, as their number one activity during the week is spending time with their children (4 hours, 6 minutes). This is followed by cooking (3 hours, 19 minutes), DIY (3 hours 11 minutes) and arranging the family finances (3 hours, 9 minutes).

When not rushing around entertaining their children, driving them from A to B, constructing toys, cooking and cleaning, these busy working dads are spending around 27 minutes a day making sure the family finances are in order.

Two thirds (67 per cent) of the dads polled said they were satisfied with the current role they play, but on average wished they could spend almost two hours more each day with their kids. One way dads could do this would be by involving their children in as many of the household activities that they participate in or are responsible for, such as teaching them how to cook and garden.

David White, Chief Executive of The Children's Mutual, said: "Dads play such an important role within the home and in the lives of their children - our calculations show the additional monetary value that dads now have around the home, quite apart from the emotional value that they have, supporting their partner and children. It's great that looking after their children is so high on dad's agendas, but it's also really encouraging to see just how high up arranging the family finances are.

"Even in the current climate, dads are still looking to the future with 23 per cent of working dads saying that saving for their children's futures is a top priority. Currently 57 per cent are working on this by trying to save what they can regularly. Contributing towards a Child Trust Fund is one of the ways dads can save for their children's futures. By saving regularly, and over the long-term, dads can help to give their children a financial springboard into adulthood that could be worth up to £37,100 when they reach age 18. This could be a massive help towards the cost of university or a deposit for their first home".

For further information on The Children's Mutual log on to thechildrensmutual.co.uk