Spending habits run in families, report finds

02/01/2009

Being a carefree spender or a careful saver could be written in the genes, Skipton has said.

According to the building society, which recently undertook research on the subject, parents and children's spending habits tend to be similar to each other.

Skipton found that 24 per cent of Britons conduct their financial affairs in largely the same way as their mother - while 15 per cent do the same as their father.

Meanwhile, just two per cent said that the spending habits of their friends had a big influence on their own finances.

Despite this apparent genetic link, Skipton urged Britain's shoppers to take responsibility for their own actions - with too much spending likely to lead to debt problems.

Jason Clarke, a spokesperson for Skipton, said: "A key part of managing your finances in the current climate is about taking responsibility and keeping track of your outgoings.

"Rather than looking at genetics or family traits and blaming your mum and dad for your spending habits, those who want to avoid a 'debt hangover' in the New Year should call in to one of our branches for a financial review to see how they could save money or make it work harder for them."

Tags; Budgeting Advice, Credit Card Lifestyle,

Regional Debt Advice; Debt Advice Skipton,

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