Latest research from St.George Bank highlights only 17% of Australian households seek financial advice.
The bank's research also said 70% of parents taught themselves how to budget, however 43% did say there was some prior learning from their parents.
A quarter of the 1500 surveyed Australian parents said money was a source of conflict in their relationship, and 24% of respondents have a financial secret they don't tell their partner.
St.George Bank general manager Ross Miller said the bank encouraged families to regularly review their finances.
"At St.George we encourage families to regularly review their finances and accounts at least once per year to ensure you have the right accounts and saving strategies to suit the changing needs of your family," Miller said.
The bank's research also showed 51% of families combine their income, with 37% choosing to keep money separate.
Miller said it was interesting that only half of families combine their income, and added that sharing household expenses via a joint account might lead to better budgeting.
"Opening up a joint account is a great way for parents to share mutual financial goals and keep track of their household spending, and conversely combining savings into one account can help boost their savings," Miller said.
"By looking at the household expenses together and agreeing on key financial decisions, families may be able to budget better and improve on their savings strategy."
Additionally, the research found the top financial secret for mothers were large debts, while for fathers secret bank accounts topped the list. The bank also said 41% of mothers and 42% of fathers think their counterpart is responsible for overspending.