Does Mother Know Best?

Mother’s Day Survey conducted for President’s Choice Financial reveals the brains behind Canadian family finances

Toronto, Ontario – May 7, 2012 – Who’s running the show in the typical Canadian household? A new Mother’s Day survey released today shows that women can claim the title of ‘Chief Financial Officer’ in most families.

While moms are the often unsung heroes keeping Canadian families running like a well-oiled machine, we may take some of their duties for granted. Results of this new poll, conducted for President’s Choice Financial by Leger Marketing in late April, found that while a majority of Canadians (56%) identify a male figure as “head of the household,” 41% say that it is a woman who is responsible for managing day-to-day household expenses and bills. That compares with only 33% of respondents who cited a man and 22% who said family-finance duties are evenly split.

According to the survey, the first installment in a series about the Canadian family commissioned by President’s Choice Financial, it appears that mother does still know best. Many respondents said that when they were growing up their mother took responsibility for managing the household expenses and bills (42.8%), as opposed to their father (29.3%) or an equal split between the two (24.2%).

Among the poll’s other findings:

  • In another indication that mom manages the family finances, children are considerably more likely to ask their mother for money than their fathers. When parents were asked if their kids were more likely to go to the “other parent” when they want money, men were more likely to say that was the case (31%), while women were more likely to disagree (66%); and
  • 53.1% of parents said that they do give their children an allowance.

“Research shows us that women and mothers, in addition to their day-to-day responsibilities, continue to play a key role when it comes to keeping the family finances on track,” said Barry Columb, President of President’s Choice Financial. “At PC Financial, we’re committed to helping provide Canadian families with the products and information they need to attain their financial goals.”

As part of this ongoing commitment to the Canadian family, President’s Choice Financial today announced it is teaming up with author, speaker and parenting expert Kathy Buckworth, who will serve as its first Chief Family Advisor.

Buckworth, an accomplished mother of four will help President’s Choice Financial advocate for consumers and educate Canadians about managing their money and realizing their long-term financial goals.

Buckworth, the author of six books, including I Am So the Boss of You, to be released next spring by McClelland & Stewart, is an award-winning writer who’s known to many Canadians as a regular parenting correspondent for a variety of national daytime and news television programs. She was named one of the “Top Parents to Follow on Twitter” by Canadian Parents, and one of the country’s “Top Home-grown Bloggers” by a leading Canadian lifestyle publication.

“As a busy mom and businesswoman, I understand the challenges facing the modern family,” said Buckworth. “I’m very excited to work with President’s Choice Financial, as they continue to find new ways to help Canadians navigate their everyday financial needs.”