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Britons’ money habits are most influenced by their mothers


·          36% of Brits say that their mothers have had the most influence on the way they handle their money

·          We are twice as likely to consult Mum than Dad on our daily spending

·          More than half of people say their father took control of their household finances when they were growing up


New research from M&S Money reveals that our mothers are the biggest influences on our financial habits.


M&S Money surveyed 1000 people to find out about how their family has influenced their finances. The research reveals that 36% say that their mothers have had the most influence on the way they handle their money, compared to 32% who say it is their fathers.


Grandparents (3%) and siblings (1%) have little influence while 24% say their family have no influence over their financial habits at all. It seems we also follow our own gender as a role model; women are most likely to say it is their mother that has most affected their financial habits (39%) while men are most likely to say that it is their father (36%)


When it comes to their daily spending, more than twice the number of people would consult Mum for her point of view instead of Dad. 22% would ask their mother about their day to day finances, while just 8% would consult their father on matters such as shopping or saving. Indeed, 6 in 10 people say they are not like their fathers at all when it comes to their finances.


It is only when the stakes are high that we turn to our Dads for occasional advice. When making large financial decisions such as buying a house or a car, one in five (20%) would turn to their father for advice compared to 11% who would ask their mothers.


Despite more people saying their Mum has been the biggest influence on their money habits, more than half (55%) of people say their father took control of their household finances while they were growing up, while for 40% it was their mother.


Colin Kersley, Chief Executive of M&S Money, said:


“While it may not always have been our mothers who controlled large financial decisions and the overall household budget when we were growing up, it seems they are now the ones who we are most likely to turn to for advice on day to day matters such as saving and spending.


“Our fathers do still have a clear role in being first point of call for advice on bigger ticket purchases. It is great that we see the value of both parents in helping us through the many different financial decisions we face on a daily basis such as choosing the best home for our hard earned cash.”


Table 1: How our family has influenced our finances






Took responsibility for household finances





Has most affected my financial habits





Would consult on large financial issue





Would consult on small financial matter





Least likely to take financial advice from






Regional Findings

  • Mums are the biggest financial influencers of all regions except for the West Midlands (42%), North West (39%) and South West (29%) where Dad’s are the biggest influences.
  • Scotland is the only region where more people say that their mother (51%) took responsibility for household finances when they were growing up rather than their father (47%).
  • The West Midlands is the only region where people are more likely to say they are like their father when it comes to financial matters than they are not (52%).
  • Scots are the only people in the UK who are more likely to ask their father (14%) than their mother (9%) for advice on their day to day spending.
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