A survey by Scottish Widows found that one in five of us try to follow the financial example set by mum - ahead of dad, our brothers and sisters and even bank managers.

In total, 38 per cent of us try to emulate the example set by our parents as a partnership and according to Scottish Widows this means we should all be financially stable in the future.

A huge 61 per cent of people over the age of 55 claim that they feel financially prepared, while 73 per cent of people aged between 18 and 24 fear for their future financially.

"It seems that when it comes to money, mum really is the word," commented Mike Hoban, customer and brand marketing manager at Scottish Widows.

"We all need positive role models in life so it's great that our mums are the people we look up to financially - but of course this shouldn't replace professional advice.

"Getting a proper grip on our finances is crucial - not just to be able to fund day to day living, but also to prepare for our future financial dreams and ambitions," he added.

Looking to our parents as financial role models can have positive effects on our banking, however, it might be worth considering that your parents may not have had to deal with credit cards and student loans. SOURCE: National Finance