Money Lessons Taught by Parents
Apparently our main money lessons are taught by our parents, as they have the largest influence over our shopping habits. According to research by Skipton Building Society over 40% of Britons spend similar amounts of cash as their parents and splurge on the same type of luxuries.
Almost a quarter of those surveyed admitted that they got their debt management habits from their mother, meaning that there could almost be evidence of a ’spending gene’ or even a ‘debt gene’, depending on how successful your parent’s budgeting is.
Spokesperson Jason Clarke comments: “A key part of managing your finances in the current climate is about taking responsibility and keeping track of your outgoings.”