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This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.

Mums decide on spending

Article Category: Debt Management Help and Advice

When it comes to spending money on the children it is mums who make the decisions, research has shown.

A study by the building society Norwich and Peterborough (N&P) revealed that it was mothers who decided what to spend on the children when it comes to supermarket shopping, clothing and footwear and national holidays like Christmas and Easter.

The poll also revealed that mums tended to take the lead in 13 of the 16 categories that were decided jointly.

Men retained control of historically male domains such spending on cars, electrical goods and home improvement.

"Although men are generally the main income earners in a family, it is fascinating to see that most financial decisions are actually made jointly by both the mother and the father," said Gary Lacey, product manager at N&P.

"Indeed, this puts the myth of the father as the financial head of the family to rest."

This comes as many household budgets are squeezed by rising mortgage payments and higher food and fuel bills.

Many financial decision makers will be turning to debt management experts this year, as the economic climate grows increasingly hostile.


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Created on 13/06/2008 10:16:23
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