Family Has The Most Influence On Our Money Habits
New Survey Reveals We Turn To family Above Money Gurus
When I launched a survey into women’s attitudes around money I little expected to find that almost over 41% of respondents cited a family member as their financial role model, far above and beyond financial gurus or business celebrities like Richard Branson.
I was initially surprised by such a high percentage, but, if you think about it, it makes sense. We see our families dealing with money issues first hand; we’ve observed how they have dealt with problems, saved for the future and it’s natural that those values will have been passed down to us.”
Rather than claiming to be inspired by six figure salaries or flourishing business empires, participants talked about their family struggles and successes in day to day life:
“Mother. She was widowed and raised 2 children .If she didn’t have the money she wouldn’t buy it. “
“My dad, because he came from nothing and will now retire as the CEO of his own company that survived the financial crisis.”
“My grandparents – they worked in factories all their lives but made decisions that have them extremely comfortable now they are elderly.”
“My mum, she has had to live to a strict budget for as long as I can remember, but always managed to give us most things we wanted.”
“My parents. Really struggled when I was young, worked hard, climbed ladder and most importantly appreciated, and enjoyed, their money when it started to roll in. Saved well too.”
“Parents – mortgage free and still earning. Brothers/sisters for handling money and lifestyle well.”
“My mother. She’s always been good at money management and making the best decisions when it comes to financial matters.”
Overall, a pride in family and their financial successes shines through the data. People are proud of their parents working their way up; and their hard work that has paid off the mortgage. It’s a heart-warming revelation that, despite the world of celebrities and social media, our values and approach to life is still influenced by those we hold dear.
My own parents, especially my Mum, had a huge influence on my approach to work and money. I was brought up with a strong work ethic: I had my first job when I was 13. Mum worked hard. I remember her working tirelessly so that I could have piano lessons, but she also had a sense of giving: she wasn’t bothered about the monetary value of things but the pleasure of them, and this has given me a good attitude towards both earning and enjoying money.
Faye Watts is a Strategic Business Coach and founder of London accountancy firm, FUSE Accountants. Sharing business development skills with business owners like you through planning, coaching and advisory. She is also the co-founder of Audrey an online platform for women who know there’s more to life and sits on the board of various organisations, including as a trustee for the charity Neuroblastoma UK
