Our grandparents are the best role models when it comes to money management, according to new research from National Savings & Investments.
The research found that 36% of people think their grandparents were the best financial role models.
However, only one in ten have received financial advice from their grandparents and taken it on board.
Over a third of grandparents believe that their financial wisdom is not welcomed by their grandchildren, and so refrain from passing it on.
With 11% of people aged between 16 and 34 years old having no savings, financial guidance from an older generation is something that could be incredibly valuable.
Whilst it is often difficult to talk about money, particularly with family members, grandparents tend to have a great deal of experience with money management and the time to study matters more closely.
They also tend to form part of a generation which was more frugal with money and took a very different attitude towards issues such as debt.
Grandparents can make great financial role models.
Photo credit: Flickr/bummy2810
