Mother’s Day: Who’s the money boss? Mums of course!

You’ve probably heard the old saying: “A woman’s work is never done.”

And if you’re a mum, you know that’s definitely true. From school runs and packed lunches to washing piles that never seem to shrink, there’s always something to do.

But here’s something that often gets overlooked, mums aren’t just running the household, they’re running the finances too.

In fact, many mums have quietly taken on the role of the family’s chief financial officer (CFO). From managing the weekly food shop to planning Christmas months in advance, they’re the ones keeping the family budget on track.

Mums are running the household budget

New research from Park, which helps families spread the cost of Christmas by setting aside small payments throughout the year, has confirmed what many families already know, mums are the money managers of the household.

Their survey of 4,000 UK households found that more than nine in ten of the people managing family budgets are women.

That means mums are often responsible for everything from everyday spending to long-term financial planning.

Think about it, you might be the one:

• tracking school uniform costs
• budgeting for the weekly shop
• searching online for the best deals
• planning birthdays, holidays and Christmas months ahead

That’s a lot of financial decision-making every single week.

Just how much are mums doing?

The research revealed just how much time and planning goes into managing family finances.

Here are some of the key findings:

• 92% of family budget decision-makers are women, meaning mums are overwhelmingly in charge of household finances
• 69% of mums spend between 6 and 10 hours a week on financial planning, from budgeting meals to hunting for deals online
• 83% of mums research school uniforms months in advance to find the best value
• 95% of expectant mums start budgeting for baby essentials months before birth
• technology costs are creating new pressure, with over two-thirds of mums saying devices like laptops or tablets are now essential for school
• many families are setting aside £5 - £12 a week across the year to spread the cost of Christmas

In other words, there’s a lot of planning happening behind the scenes to keep family finances running smoothly.

The reality of modern motherhood

Amy Peebles, a family budgeting expert at Park Christmas Savings, says the research shows just how strategic mums have become when it comes to managing money.

She explains:

"What really stands out in this research is the level of financial planning mums are doing every single day. This isn't reactive budgeting - it's sophisticated forward planning, thinking months ahead to manage costs and protect the family.

“In so many ways, mums are acting as the household's chief financial officer. They're forecasting expenses, researching deals, making trade-offs and spreading costs across the year so their families never feel the pressure all at once. And they're doing all of this while the cost of living continues to make even the basics, food, heating, school essentials, a genuine financial challenge for millions of families."

The challenge of unexpected costs

Even the best financial planning can be thrown off by surprise expenses.

Many mums say one of the biggest challenges is dealing with the unexpected costs of raising children, things like sudden growth spurts, school trips, or technology upgrades.

When money is tight, these surprise expenses can quickly put pressure on the family budget.

That’s why having a small emergency fund can make a big difference.

How you can start building an emergency fund

Even if money feels tight, there are small steps you can take to start building a financial safety net.

Track your spending

Start by checking your bank statements and grouping your spending into categories. When you can see where your money is going, it’s much easier to spot places where you might be able to cut back.

Set a realistic goal

You don’t need to save large amounts straight away. If you’re able to put aside just a few pounds each week, it will add up over time.

Automate your savings

Setting up a standing order to move money into savings each month can help make saving automatic. Once it’s set up, you don’t have to think about it.

Small changes can make a surprisingly big difference to your finances.

For example, no-spend weekends, where you plan fun activities that don’t involve spending money, have become a popular way for families to save while still enjoying time together.

Want more saving tips?

For more money-saving tips, check our handy tips on how you can start saving when money is tight.

We’ve also put together a list of ten everyday swaps that could save you over £100 a month.