Parents influence our saving habits

clock

People fall into one of four types of saver categories, influenced by the habits their parents taught them as children, claims new research from Scottish Widows.

Results show 62% of adults save little or nothing, with almost half of this group claiming their parents are to blame as they had the biggest influence on their savings habits. Of the 38% who do save regularly, 57% say they were taught by their parents as a child, with 32% adding their mum was the biggest influence on their savings, 7% more than fathers. However a third of those surveyed by YouGov, say they taught themselves how to save and didn’t rely on their parents at all, while the research shows only 9% go to mum, and the same to dad for the advice on financial matters, with 19%...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA takes civil action against Neil Woodford and W4.0 for 'operating without authorisation'

FCA takes civil action against Neil Woodford and W4.0 for 'operating without authorisation'

Accused of breaching FSMA

Michael Nelson
clock 08 June 2026 • 2 min read
M&G's PruFund coming to Scottish Widows Platform

M&G's PruFund coming to Scottish Widows Platform

First third-party platform launch

Jen Frost
clock 08 June 2026 • 2 min read
Investors move from cash to US equities as confidence improves

Investors move from cash to US equities as confidence improves

Investment Association figures show

clock 05 June 2026 • 3 min read