Mums influence our spending

A surprising 36 per cent of Britons claim their mothers shape the way they spend and handle their money.

Mothers pay a significant role in most people’s lives, and new research shows that they have the biggest influence on our spending habits, too.

The survey, carried out byM&S Money, asked 1,000 people to analyze how their family has influenced their finances, concluding that 36% go to their mother for financial advice, compared to 32% who consult their fathers.

Chief Executive of M&S Money, Colin Kersley, says: ‘While it may not always be our mothers who control large financial decisions and the overall household budget when we were growing up, it seems they are now the ones we are most likely to turn to for advice on day to day matters such as saving and spending.’

The study reveals that 22% would ask their mother about their day-to-day finances, while just 8% would consult their father on matters such as shopping and saving.

The report suggests that grandparents and siblings have minimal influence on our finances, while 24% say their family has no influence at all over their financial habits.

Mums polled the top of the charts for financial influence in all regions except for the West Midlands, North West and South West, and in Scotland 51% said their mother took responsibility for household finances.

Do you prefer the female touch when making financial decisions? Let us know your thoughts below.

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