Seven out of 10 mums think finance companies try to catch them out

Nearly every mum now plays an active role in the family's finance decisions, but 70% feel complicated jargon is used to trip them up

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Mums, we are increasingly taking charge of the family’s finances, however seven out of 10 of us think finance companies deliberately use difficult language to catch us out, research reveals.

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Most mums (98%) now play an active role in the family’s personal finances, making purchasing decisions on everything from mortgages to medical insurance, the new survey from online health insurer Health-on-Line also shows. This reveals a major change from the previous generation, with over one in three surveyed saying their own mum played no role in family finance decisions.

One in five mums also said they were responsible for making all of their family’s personal finance decisions over the past two years. When asked why this was the case, 35% said they were the family member who paid ‘the most attention to detail’.

Four out of 10 mums are now more likely to consider purchasing private health insurance due to fear for the future of the NHS, the study also revealed.

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