Mum’s the word for money matters

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Twenty per cent of mothers in Yorkshire said they were responsible for making all of the family’s personal finance decisions, according to a new survey from online health insurer Health-on-Line.

One in three mothers in Yorkshire said that their mothers had played no part at all in family finance decisions, compared to 57 per cent of respondents from Wales, 45 per cent of respondents from East Anglia and 40 per cent from London.

The survey found that 76 per cent of mothers in Yorkshire said they felt that finance products use complicated language to deliberately catch them out, compared to 78 per cent in Wales, 71 per cent from the North East, 66 per cent from East Anglia and 75 per cent of those from East Midlands.

Nationally, the research found that 98 per cent of mothers play an “active role” in their family personal finances.

One in five mothers said they were responsible for making all of their family’s personal finance decisions over the past two years, with nearly one in three saying they made at least half of them.

This showed a major change from the previous generation, with over one in three saying that their mothers played no role in the family finance decisions, according to the survey.