Thank mom for her financial influence
Don't forget your mom this Sunday on Mother's Day. And you might want to thank her for the good decisions you made, including the financial ones.
According to a new survey by CreditCards.com, many Americans list their mothers among the family members with the biggest impact on their personal finances.
The phone survey of 1,000 adults in the continental U.S. found 16 percent said their mothers had the largest familial influence when it came to money issues. Spouses and fathers were tied in the survey, both at 14 percent.
Nearly one-third of all Millennials, people now ages 18 to 29, listed mom as their biggest financial influence. In several other categories, however, such as those over 50, college graduates or those with annual household incomes of $75,000 or more, mothers were also-rans in the influence race.
And the family member listed as having the most overall influence on a person's finances? Oneself, according to 28 percent of survey respondents.
"A self-reliant spirit is as American as Mom's apple pie," Matt Schulz, CreditCards.com's senior industry analyst, said in a press statement. "When people say they are their biggest financial influence, I think they're referring to their years of paying the bills, learning from mistakes and soaking up expert advice."
However, Schulz also noted, "It's clear that marriage is a major tipping point as well."