Mums chosen as financial role models
Published On 17 March 2007
With personal debt reaching an astonishing £1.3 billion at the end of January, UK savers are evidently in need of a few good financial role models.According to research from Scottish Widows, there is clear scope for influencing the financial decision of youngsters, with 84 per cent of those under the age of 24 claiming to follow the examples set by family, friends and colleagues.
Parents have the biggest impact upon our financial decisions, according to 38 per cent of respondents to the new survey.
Twenty per cent chose their mother as their chief role model, ahead of fathers, siblings, bank managers, financial advisors and friends.
"It seems that when it comes to money, mum really is the word. We all need positive role models in life so it's great that our mums are the people we look up to financially," said Mike Hoban, customer and brand marketing director of Scottish Widows.
He added, however, that individuals should also seek professional advice in order to keep their financial affairs under control.
When seeking debt relief, an individual voluntary arrangement, credit card advice or information about loans, it is important to contact experts to avoid the many pitfalls within the industry.
