Mothers are the main financing role models, financial services provider discovers

Mon, 19 Mar 2007

Mothers have emerged as the most influential role models when it comes to banking customers repaying credit card debts and personal loans on time.

Figures from financial services provider Scottish Widows suggest that one in five banking customers look to their mother as their primary role model when it comes to financing matters.

This puts them ahead of dads, brothers and sisters, friends and bank managers in the survey.

Meanwhile, it appears that younger banking customers may be the most reliant upon external advice, with 84 per cent of people aged 24 years old and under looking to family members and friends for financing guidance.

"We all need positive role models in life so it's great that our mums are the people we look up to financially - but of course, this shouldn't replace professional advice," remarked Mike Hoban, customer and brand marketing director of Scottish Widows.

The issue of how parents participate in the financing matters of their children has been highlighted by the BBC Two programme The Bank of Mum & Dad.

In the show, parents are drafted in to help their children pay off excessive credit card and loan debts.

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