Moms and Money

Mothers play a crucial role in weaving a financial safety net for their families.

Add this to the list of praises heaped on moms this Mother's Day: Mothers are more influential than fathers in teaching Americans how to manage their money. In a survey conducted for Ameriprise Financial, 50% of those responding said their mother had more influence in teaching money management skills, compared with 38% who said it was their father.

Further, about 70% of those interviewed said that Mom was a good financial role model. More than half characterized their mother as a saver, while 24% viewed her as a spender.

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.