Study finds moms have most influence on financial education

A recent study on behalf of Creditcards.com found that mothers have the strongest influence over children's financial literacy.

Of the 1,000-person survey, 26 percent of adults said their mother helped shape what they know about managing money the most. Fathers came in second with 21 percent.

"Moms do handle a lot of the day-to-day spending decisions, and that's what kids see," says Patricia Seaman, a spokeswoman for the National Endowment for Financial Education.

Seaman says that children often accompany their mothers to a number of places in which financial decisions and transactions take place, including grocery stores, banks and ATMs. During these trips, children may pick up certain financial habits, such as only buying items on sale, or comparison shopping.

Because parents have such an important role in teaching sound financial habits, it's important they have a strong understanding themselves. While many mothers and fathers understand the importance of a credit report when it comes to securing credit, some may not know that their files may contain mistakes and unfair marks.

These negative items, which do not belong on a credit report, may cause a person's credit score to drop unnecessarily. For this reason, individuals who spot a questionable or problematic item on their files may want to investigate and challenge the marks with both creditors and credit bureaus and contact a credit lawyer for further assistance.