Turning to mum for money help

MOTHERS’ DAY cards lining mantelpieces this weekend are likely to feature plenty of thanks for putting up with the foibles of kids. But you can be sure there will be a dearth of cards thanking them for being the financial role models of the household.

Our research shows as women go through life, if they don’t know something about their finances, they ask. And then, after decades of building up their financial understanding, they’re the first person their kids call when they have a financial question (excluding their partner). We’re far more likely to ask our mums about money than our dads.

Unfortunately, this isn’t just due to a respect for their mother’s wisdom; it’s also the result of traditional gender stereotypes. When we asked people who they turned to for advice on money, women were far more likely to say they asked for help, while men were either convinced they knew enough or were reluctant to ask.

The sheer fact that women are more prepared to ask for help means mums are more in demand than dads. So while plenty of daughters might want to take the opportunity to thank their mum for helping explain financial matters, it might not hurt for sons to ask for some tips too.

PLATFORM: The specialist dementia care provider Vida Healthcare has launched a training platform, Vida Academy. Helen Daly, learning, development & performance programme manager at Vida Healthcare, said: “We’re always looking for new and innovative ways to support our workforce.”