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LendingTree Study Reveals Dads Are the No. 1 Source of Financial Advice

Ahead of Father's Day, LendingTree surveyed Americans to find out how dads impact their children's money habits

CHARLOTTE, N.C., June 12, 2019 /PRNewswire/ -- LendingTree®, the nation's leading online loan marketplace, released its study on dads' roles as financial models. The survey found that 43 percent of respondents go to their dad when they need financial advice, and 23 percent would ask their dad about money before consulting a financial advisor (14 percent).

LendingTree logo (PRNewsfoto/LendingTree)

LendingTree tree surveyed over 1,000 Americans about their dad's role as a financial role model and the impact dads have on developing money habits.

Key findings

  • The survey found that 43 percent of survey respondents go to their dad when they need financial advice — and 23 percent would ask their dad about money before consulting a financial advisor (14 percent).
  • About half (49 percent) of respondents consider their father to be their financial role model, and about 56 percent say their dad helped them develop good money habits growing up.
  • Buying a car (64 percent), budgeting (38 percent) and career advice (37 percent) are the most common ways dads have helped their children navigate their personal finances.
  • Millennials are more likely than any other age group to value their father's financial advice.
  • More than two-thirds (68 percent) will use strategies their father taught them when teaching their own children about money.

To view the full report, visit https://www.lendingtree.com/personal/dads-are-the-no-1-source-of-financial-advice-survey/

Methodology

LendingTree commissioned Qualtrics to conduct an online survey of 1,049 Americans, with the sample base proportioned to represent the general population. The survey was fielded May 13-15, 2019.

About LendingTree
LendingTree (TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network, and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
press@lendingtree.com

Cision

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