The Fed - Supplemental Appendixes to the Report on the Economic Well-Being of U.S. Households in 2020 - May 2021

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Overview Appendix A: 2020 Survey Questionnaire Appendix B: Consumer Responses to 2020 Survey Questions

Appendix B: Consumer Responses to Survey Questions

Questions are listed below in order in which they were presented to respondents. Questions with fewer than 11,648 respondents were not asked to the full sample, and the question-specific screening criteria are available in appendix A. All data are weighted to yield estimates for the U.S. adult population.

Living Arrangements Section

Question L0. Do each of the following people currently live with you?

Response	Percent
My spouse or partner	65
My children under age 18	25
My adult child(ren) age 18 or older	16
My parent(s)	13
Other individuals	14

Note: Number of unweighted respondents = 11,648.

Question L0A. Are the adult children (who are age 18 or older) who live with you:

Response	Percent
All currently enrolled in school	30
One or more not currently enrolled in school	69
Refused	1

Note: Number of unweighted respondents = 1,843.

Question L0B. Other than your spouse or partner, children, or parents, are the people living with you:

Response	Percent
Your brother(s) or sister(s)	42
Other relatives	33
Other people not related to you	36

Note: Number of unweighted respondents = 1,395.

Question L1. You indicated that you live with (your parents, adult children who are not in school, you siblings, or) someone outside of your immediate family. Are each of the following reasons why you live with these individuals?

Response	Percent
To save money	60
To help those living with me financially	47
To care for family member or friend	33
To receive help with childcare	8
Prefer living with others	31

Note: Number of unweighted respondents = 3,171.

Question L4. Did the people who you are living with change at any point in the past year, even temporarily?

Response	Percent
Yes, temporarily	10
Yes, permanently	7
No	82
Refused	0

Note: Number of unweighted respondents = 11,648.

Question L5. Was the change in who you were living with because of factors related to the COVID-19 pandemic such as social distancing, employment changes, or the increased availability of telework?

Response	Percent
Yes	39
No	61
Refused	0

Note: Number of unweighted respondents = 1,984.

Question L6. Are any of your children currently enrolled in kindergarten through 12th grade?

Response	Percent
Enrolled in a public school	69
Enrolled in a private school	9
Home schooled	15

Note: Number of unweighted respondents = 2,633.

Question L7. Of your children enrolled in kindergarten through 12th grade, how is the youngest child receiving their education?

Response	Percent
Classes are completely in person	27
Classes completely use a distance learning format	48
Classes use a combination of in-person and distance learning	24
Refused	0

Note: Number of unweighted respondents = 1,981.

Question L12. Do you agree or disagree with each statement related to your child's experience with distance learning classes?

Response	Percent
Response	Disagree	Neither agree nor disagree	Agree	Refused
They are learning just as much as they would taking classes in person	59	19	22	0
They have remained connected to other students and peers at their school	47	23	29	0
They have access to their teachers	9	18	73	0
They have adequate access to the internet and technology to complete coursework	6	12	82	0

Note: Number of unweighted respondents = 1,428.

Question L8. Prior to the onset of the COVID-19 pandemic in March, did you regularly use any of the following types of childcare:

Response	Percent
A private daycare, private preschool, or childcare center	20
Public preschool, Head Start, or Early Head Start	11
A grandparent who is not living with you	17
Someone else living outside your household	10

Note: Number of unweighted respondents = 2,633.

Question L9. Has your access to childcare been disrupted since the onset of the COVID-19 pandemic in March?

Response	Percent
Yes	60
No	40
Refused	0

Note: Number of unweighted respondents = 1,086.

Question L10. Did your private daycare close, either temporarily or permanently, since the onset of the COVID-19 pandemic in March?

Response	Percent
Yes, permanently	10
Yes, temporarily	80
No	10

Note: Number of unweighted respondents = 401.

Question L11. Are you either not working or working fewer hours at your job because your child's classes are not completely in person or because your access to childcare was disrupted?

Response	Percent
Yes, not working	13
Yes, working less	20
No	68
Refused	0

Note: Number of unweighted respondents = 1,773.

General Well-Being Section

Question B2. Overall, which one of the following best describes how well you are managing financially these days?

Response	Percent
Living comfortably	35
Doing okay	40
Just getting by	18
Finding it difficult to get by	7
Refused	0

Note: Number of unweighted respondents = 11,648.

Question B0. How well do each of these statements describe you or your situation?

Response	Percent
Response	Completely	Very well	Somewhat	Very little	Not at all	Refused
Because of my money situation, I feel like I will never have the things I want in life	8	9	30	27	26	0
I am just getting by financially	10	13	31	20	25	0
I am concerned that the money I have or will save won't last	17	14	32	19	18	0

Note: Number of unweighted respondents = 11,648.

Question B1. How often do each of these statements apply to you?

Response	Percent
Response	Always	Often	Sometimes	Rarely	Never	Refused
I have money left over at the end of the month	25	21	27	17	10	0
My finances control my life	10	16	32	29	13	0

Note: Number of unweighted respondents = 11,648.

Question B3. Compared to 12 months ago, would you say that you (and your family) are better off, the same, or worse off financially?

Response	Percent
Much better off	6
Somewhat better off	19
About the same	51
Somewhat worse off	18
Much worse off	6
Refused	0

Note: Number of unweighted respondents = 11,648.

Question B6. Think of your parents when they were your age. Would you say you (and your family) are better, the same, or worse off financially than they were?

Response	Percent
Much better off	25
Somewhat better off	29
About the same	24
Somewhat worse off	15
Much worse off	7
Refused	0

Note: Number of unweighted respondents = 11,648.

Question B7. How would you rate economic conditions today:

Response	Percent
Response	Excellent	Good	Only fair	Poor	Refused
In your community	3	39	44	14	0
In this country	2	23	48	26	0

Note: Number of unweighted respondents = 11,648.

Employment Section

Question D1A. Last month, did you do any work for either pay or profit?

Response	Percent
Yes	59
No	41

Note: Number of unweighted respondents = 11,648.

Question D1E. At any time during the past month, did you want to work? (more hours)

Response	Percent
Yes	33
No	67
Refused	0

Note: Number of unweighted respondents = 11,648.

Question D21. Did each of the following contribute to you not working or not working as much as you wanted last month?

Response	Percent
Employer would not offer more hours	56
Could not find work/another job	22
Childcare	9
Other family or personal obligations	20
Health limitations or disability	22
In school or training	8
Retired	35
Other (please specify)	6

Note: Number of unweighted respondents = 2,156 (employer would not offer more hours) and 6,994 (all others).

Question D3A. Think about your main job (the job from which you earned the most income in the past month). In this job, were you working for someone else, self-employed, or something else?

Response	Percent
Working for someone else	88
Self-employed (working for myself)	10
Other work arrangement	2
Refused	0

Note: Number of unweighted respondents = 6,809.

Question D3B. Still thinking about your main job, do you usually work:

Response	Percent
Full time (35 or more hours per week)	77
Part time (less than 35 hours per week)	23
Refused	0

Note: Number of unweighted respondents = 6,809.

Question D30. Still thinking about your main job, do you normally start and end work around the same time each day that you work or does it vary?

Response	Percent
Normally work the same hours	74
Schedule varies, primarily at my request	10
Schedule varies, primarily based on my employer's needs	16
Refused	0

Note: Number of unweighted respondents = 5,936.

Question D31. Approximately how far in advance does your employer usually tell you the hours that you will need to work on any given day?

Response	Percent
One day in advance or less (including on call)	36
2 to 3 days in advance	15
4 to 6 days in advance	13
1 to 2 weeks in advance	20
3 weeks in advance or longer	16
Refused	1

Note: Number of unweighted respondents = 937.

Question D33. Is your main job a temporary job?

Response	Percent
Yes	7
No	90
Don't know	3
Refused	0

Note: Number of unweighted respondents = 6,809.

Question D34A. Thinking about the work you did last week, how much of it did you do by telecommuting or working from home?

Response	Percent
None	55
Some	15
All	29
Refused	0

Note: Number of unweighted respondents = 6,809.

Question D4. In addition to your main job, did you have any other jobs last month?

Response	Percent
Yes	12
No	88
Refused	0

Note: Number of unweighted respondents = 6,809.

Question D44. Think about any job in the past 12 months, not just your main job. In the past 12 months have you:

Response	Percent
Asked for a raise or a promotion	12
Received a raise or a promotion	36
Applied for a new job	21
Started a new job	12
Voluntarily left a job	7

Note: Number of unweighted respondents = 6,809 (asked for a raise or a promotion or received a raise or a promotion) and 11,648 (all others).

Question D44_f. In the past 12 months, have you gotten laid off or lost a job (including a temporary layoff)?

Response	Percent
Yes	14
No	86
Refused	0

Note: Number of unweighted respondents = 11,648.

Question D46. Do you expect to return to the same employer that you worked for before you were laid off?

Response	Percent
No, do not expect to return to the same employer	47
Yes, employer expressed this is temporary but did not provide a return date	25
Yes, employer provided definite return date	4
Yes, already returned to work for the same employer	24
Refused	0

Note: Number of unweighted respondents = 1,520.

Question D5. Last month, did your spouse or partner do any work for either pay or profit?

Response	Percent
Yes	59
No	41
Refused	0

Note: Number of unweighted respondents = 7,446.

Gig Economy Section

Question GE1. In the past month, have you been paid for each of the following activities?

Response	Percent
Child or elder care services	3
Dog walking, feeding pets, or house sitting	2
House cleaning, yard work, or other property maintenance work	6
Driving or ride-sharing, such as with Uber or Lyft	2
Paid tasks online, such as freelance work through Fiverr or Upwork (do not include KnowledgePanel surveys)	2
Other paid personal tasks, such as deliveries, running errands, or helping people move	4

Note: Number of unweighted respondents = 11,648.

Question GE2. In addition, in the past month, have you been paid for each of the following activities?

Response	Percent
Selling goods yourself at flea markets or garage sales	5
Selling goods at consignment shops or thrift stores	3
Selling goods online, such as on eBay or Etsy	9
Selling goods at an event you plan, such as Avon parties	1
Renting out property, such as your car or your house	3
Any other paid activities that you have not already mentioned (do not include KnowledgePanel surveys)	4

Note: Number of unweighted respondents = 11,648.

Question GE12. Are the items you sold ones that you:

Response	Percent
Made or repurposed, such as handmade crafts	18
Sell on behalf of a company, such as Avon or Pampered Chef	6
Purchased to resell for a profit	22
Previously owned for personal use, such as old clothing	72

Note: Number of unweighted respondents = 1,493.

Question GE20A. Did you spend at least 20 hours in the past month doing these activities? (Do not include taking KnowledgePanel Surveys.)

Response	Percent
Yes	30
No	70
Refused	0

Note: Number of unweighted respondents = 3,132.

Question GE22. Relative to a year ago, last month did you spend more, the same, or less time doing these activities?

Response	Percent
More	26
Less	29
About the same	44
Refused	0

Note: Number of unweighted respondents = 3,132.

Question GE23. Relative to a year ago, last month did you make more, less, or the same amount of money doing these activities?

Response	Percent
More	25
Less	30
About the same	45
Refused	1

Note: Number of unweighted respondents = 3,132.

Question GE40A. In the past month, how much of your income was from doing these activities?

Response	Percent
Under 10%	61
10% to 50%	14
50% to 90%	4
Over 90%	7
Don't know	14
Refused	1

Note: Number of unweighted respondents = 3,132.

Question GE41. Has doing these activities affected the amount your family income varies from month to month?

Response	Percent
Yes, it increased the amount income varies	21
Yes, it reduced the amount income varies	9
No	70
Refused	1

Note: Number of unweighted respondents = 3,132.

Question GE5. Last month when doing these activities did you find customers with a company's website or mobile app and receive your payment through that company? For example, Uber drivers find riders with the Uber app and receive payments through Uber.

Response	Percent
Yes	14
No	85
Refused	1

Note: Number of unweighted respondents = 3,132.

General Housing Section

Question GH1. Do you and/or your spouse/partner:

Response	Percent
Own your home with a mortgage or loan	44
Own your home free and clear (without a mortgage or loan)	21
Pay rent	27
Neither own nor pay rent	8
Refused	0

Note: Number of unweighted respondents = 11,648.

Question GH2. When did you move into your current home?

Response	Percent
Before 2019	82
2019	8
2020	9
Refused	0

Note: Number of unweighted respondents = 11,648.

Question GH7. Do you live in the same state that you lived in before your move?

Response	Percent
Yes	79
No	21
Refused	0

Note: Number of unweighted respondents = 1,964.

Question GH5. Compared with where you lived before your move, would you say that you now live closer to, the same distance from, or farther away from each of the following?

Response	Percent
Response	Closer	Same distance	Farther away	Refused
Extended family	22	49	29	0
Friends	17	48	35	1
Usual workplace outside your home	27	44	29	0

Note: Number of unweighted respondents = 1,410 (usual workplace outside your home) and 1,964 (all others).

Question GH6. A year from now, do you expect to be living in your current home?

Response	Percent
Yes	70
No	30
Refused	0

Note: Number of unweighted respondents = 1,964.

Rent Section

Question R4. Before your most recent move, did you own your previous home?

Response	Percent
No	75
Yes, and I still own that home	6
Yes, and I no longer own that home	19
Refused	0

Note: Number of unweighted respondents = 1,964.

Question R5B. Did each of the following contribute to your moving from your previous home?

Response	Percent
Evicted or received an eviction notice	3
Landlord told you, or a person you were staying with, to leave	8
You missed a rent payment and thought you would be evicted	3
City condemned the property and forced you to leave	1

Note: Number of unweighted respondents = 1,448.

Question R5C. Did each of the following contribute to your moving from your previous home?

Response	Percent
Bank took possession of your home in foreclosure	1
Received a notice from bank that they planned to foreclose	2
Missed mortgage payments and thought bank would foreclose	3
City condemned the property and forced you to leave	0

Note: Number of unweighted respondents = 412.

Question R7. In the past 12 months, have you experienced any problems with your house or apartment that you felt needed to be fixed, such as a leak or a broken appliance?

Response	Percent
Yes	53
No	47
Refused	0

Note: Number of unweighted respondents = 2,931.

Question R8. Did you contact your landlord about the problem with your house or apartment that needed to be fixed?

Response	Percent
Yes	87
No	13
Refused	0

Note: Number of unweighted respondents = 1,588.

Question R8A. After you contacted your landlord about the problem with your house or apartment, how much difficulty did you have getting them to fix the problem?

Response	Percent
None	42
A little difficulty	27
Moderate difficulty	15
Substantial difficulty	17
Refused	0

Note: Number of unweighted respondents = 1,391.

Question R3. About how much do you (and/or your spouse/partner) pay for rent each month?

Response	Percent
Less than $500	17
$500 to $749	21
$750 to $999	18
$1,000 to $1,249	14
$1,250 to 1,499	10
$1,500 to $1,999	10
$2,000 or above	9
Don't know	1
Refused	0

Note: Number of unweighted respondents = 2,931.

Mortgage Section

Question M4. About how much is your total monthly mortgage payment (i.e., the amount you send to the bank)?

Response	Percent
Less than $500	7
$500 to $749	12
$750 to $999	14
$1,000 to $1,249	15
$1,250 to 1,499	13
$1,500 to $1,999	15
$2,000 or above	20
Don't know	3
Refused	1

Note: Number of unweighted respondents = 5,155.

Question M5. Have you refinanced your mortgage in the past year?

Response	Percent
Yes	20
No	80
Refused	0

Note: Number of unweighted respondents = 5,155.

Internet Section

Question GH4. Do you or any member of your household have access to the internet using a:

Response	Percent
Cellular data plan for a smartphone or other mobile device	92
Broadband (high speed) internet service in your home, such as cable, fiber optic, or DSL	88

Note: Number of unweighted respondents = 11,648.

Banking Section

Question BK1. Do you (and/or your spouse/partner) currently have a checking, savings, or money market account?

Response	Percent
Yes	94
No	5
Refused	0

Note: Number of unweighted respondents = 11,648.

Question BK2. In the past 12 months, did you and/or your spouse or partner:

Response	Percent
Purchase a money order from a place other than a bank	10
Cash a check at a place other than a bank	6
Take out a payday loan or payday advance	2
Take out a pawn shop loan or an auto title loan	2
Obtain a tax refund advance to receive your refund faster	1

Note: Number of unweighted respondents = 11,648.

Credit Application Section

Question A6. If you were to apply for a credit card today, how confident are you that your application would be approved?

Response	Percent
Not confident	15
Somewhat confident	19
Very confident	61
Don't know	5
Refused	0

Note: Number of unweighted respondents = 11,648.

Question A0. In the past 12 months, have you (or your spouse/or your partner) applied for any credit (such as a credit card, higher credit card limit, mortgage, refinance, student loan, personal loan, or other loan)?

Response	Percent
Yes	37
No	63
Refused	0

Note: Number of unweighted respondents = 11,648.

Question A0B. Was there a time in the past 12 months that you (or your spouse/or your partner) desired credit but chose not to submit a credit application?

Response	Percent
Yes	11
No	89
Refused	0

Note: Number of unweighted respondents = 7,348.

Question A1. In the past 12 months, has each of the following happened to you or your spouse/partner:

Response	Percent
Turned down for credit	24
Approved for credit, but were not given as much credit as you applied for	17
Put off applying for credit because you thought you might be turned down	18

Note: Number of unweighted respondents = 4,300.

Question A2. You indicated that you (or your spouse/or your partner) desired credit in the past 12 months but did not submit a credit application. Was this because you thought that you might be turned down or denied credit?

Response	Percent
Yes	65
No	35
Refused	0

Note: Number of unweighted respondents = 701.

Credit Condition Section

Question C2A. Do you currently have at least one credit card?

Response	Percent
Yes	83
No	17
Refused	0

Note: Number of unweighted respondents = 11,648.

Question C3. Do you currently have any outstanding unpaid credit card debt?

Response	Percent
Yes	43
No	57
Refused	0

Note: Number of unweighted respondents = 10,043.

Question C3A. Do you (and your spouse/and your partner) currently have more, less, or about the same amount of credit card debt than you had 12 months ago?

Response	Percent
More debt now	26
About the same	39
Less debt now	34
Refused	0

Note: Number of unweighted respondents = 4,189.

Question C4A. In the past 12 months, how frequently have you carried an unpaid balance on one or more of your credit cards?

Response	Percent
Never carried an unpaid balance (always pay in full)	50
Once	5
Some of the time	20
Most or all of the time	25
Refused	0

Note: Number of unweighted respondents = 10,043.

Question C5. In the past 12 months, did you (and/or your spouse/partner) experience any of the following on your bank account or credit card?

Response	Percent
Unexpected fees	11
Fraudulent transactions	16
Delays or problems with customer service	8
Bank locked or closed account	4
Credit limit reduced	5

Note: Number of unweighted respondents = 11,648.

Education Section

Question ED0. What is the highest level of school you have completed or the highest degree you have received?

Response	Percent
Less than high school degree	7
High school degree or GED	22
Some college but no degree (including currently enrolled in college)	21
Certificate or technical degree	5
Associate degree	8
Bachelor's degree	20
Master's degree	10
Professional degree (e.g., MBA, MD, JD)	4
Doctoral degree	2

Note: Number of unweighted respondents = 11,648.

Question D1G. Are you currently enrolled as a student?

Response	Percent
Yes, as a full-time student	5
Yes, as a part-time student	3
No	91
Refused	0

Note: Number of unweighted respondents = 11,648.

Question ED0B. What type of program are you currently pursuing?

Response	Percent
High school or GED program	8
Non-degree training program	3
Certificate or technical degree	8
Associate degree	16
Bachelor's degree	40
Master's degree	14
Professional degree (e.g., MBA, MD, JD)	5
Doctoral degree	6
Refused	1

Note: Number of unweighted respondents = 871.

Question ED20. Before the start of the pandemic in March, were you planning on continuing or starting an educational program in the fall of 2020 that you are not currently enrolled in?

Response	Percent
Yes	11
No	89
Refused	0

Note: Number of unweighted respondents = 3,148.

Question ED21. Since the onset of the COVID-19 pandemic in March, have you taken online classes?

Response	Percent
Yes	88
No	12
Refused	0

Note: Number of unweighted respondents = 871.

Question ED22. Do you agree or disagree with each statement related to your experience with online classes?

Response	Percent
Response	Disagree	Neither agree nor disagree	Agree	Refused
I am learning just as much as I would taking classes in person	43	23	34	0
I feel connected to students and peers at my school	59	24	17	0
I have access to my teachers	12	21	67	0
Online learning is worth the cost	40	31	30	0
I have adequate access to the internet and technology to complete coursework online	5	15	79	1

Note: Number of unweighted respondents = 772.

Question ED23. Since the start of the pandemic, are any of the following reasons why you did not enroll full time or enroll in an educational program?

Response	Percent
Financial concerns	59
Childcare responsibilities	24
Caring for parents or other family members	17
Health or safety concerns	43
Unreliable technology	15

Note: Number of unweighted respondents = 641.

Question ED0D. Have you ever enrolled in an educational degree program beyond high school?

Response	Percent
Yes	13
No	87
Refused	0

Note: Number of unweighted respondents = 2,515.

Question ED1. Which one of the following broad categories best describes your current/most recent educational program?

Response	Percent
Humanities/arts	7
Social/behavioral sciences	7
Life sciences	3
Physical sciences/math	3
Computer/information sciences	8
Engineering	6
Education	8
Business/management	20
Health	11
Law	4
Vocational/technical training	7
Undeclared	5
Other	10
Refused	1

Note: Number of unweighted respondents = 8,878.

Question ED5. Overall, how would you say the lifetime financial benefits of your current/most recent educational program compare to its costs?

Response	Percent
Financial benefits are much larger	15
Financial benefits are somewhat larger	15
About the same	40
Financial costs are somewhat larger	12
Financial costs are much larger	14
Refused	4

Note: Number of unweighted respondents = 2,922.

Question ED6. If you could go back and make your education decisions again, would you have done each of these things:

Response	Percent
Chosen a different field of study	40
Attended a different school	33
Not attended college or completed less education	12
Completed more education	71

Note: Number of unweighted respondents = 2,534.

Question ED10. Overall, how would you say the lifetime financial benefits of your associate/bachelor's degree compare to its costs?

Response	Percent
Financial benefits are much larger	39
Financial benefits are somewhat larger	24
About the same	20
Financial costs are somewhat larger	10
Financial costs are much larger	7
Refused	1

Note: Number of unweighted respondents = 5,956.

Question ED11. If you could go back and make decisions regarding your current/most recent educational program again, would you have done each of these things:

Response	Percent
Chosen a different field of study	35
Attended a different school	23
Not attended college or completed less education	5
Completed more education	41

Note: Number of unweighted respondents = 5,956.

Student Loans Section

Question SL1. Do you currently have student loan debt or owe any money used to pay for your own education?

Response	Percent
Yes	15
No	85
Refused	0

Note: Number of unweighted respondents = 11,648.

Question SL2. Think about the money you currently owe for your own education. Is this money you owe for that education on a:

Response	Percent
Student loan	95
Home equity loan	4
Credit card	21
Other loan	12

Note: Number of unweighted respondents = 1,759.

Question SL3. Thinking specifically about the money that you owe for your own education, please tell us the total amount that you currently owe on these loans.

Response	Percent
Less than $5,000	12
$5,000 to $9,999	13
$10,000 to $14,999	12
$15,000 to $19,999	9
$20,000 to $24,999	8
$25,000 to $29,999	6
$30,000 to $39,999	7
$40,000 to $49,999	6
$50,000 to $74,999	9
$75,000 to $99,999	4
$100,000 or above	10
Don't know	3
Refused	0

Note: Number of unweighted respondents = 1,759.

Question SL4. Prior to the onset of COVID-19, approximately how much is the total monthly payment that you are required to make on the loans from your education?

Response	Percent
I was not required to make any payments on these loans	28
$1 to $99	13
$100 to $199	17
$200 to $299	12
$300 to $399	7
$400 to $499	4
$500 to $999	8
$1,000 or above	3
Don't know	8
Refused	0

Note: Number of unweighted respondents = 1,759.

Question SL6. Are you behind on payments or in collections for one or more of the loans from your own education?

Response	Percent
Yes	18
No	81
Refused	0

Note: Number of unweighted respondents = 1,759.

Question SL7. Did you borrow money or take out any loans to pay for your own education that you have since repaid?

Response	Percent
Yes	17
No	83
Refused	0

Note: Number of unweighted respondents = 9,889.

Question SL8. Still thinking about your own education, did you borrow money for each of the following educational programs (including any repaid loans of education you did not complete)?

Response	Percent
Certificate or technical training	13
Associate degree	21
Bachelor's degree	63
Professional degree (e.g., MBA, MD, JD)	10
Master's degree or doctoral degree	18

Note: Number of unweighted respondents = 3,700.

Question SL10. Do you currently owe any money used to pay for your spouse's/partner's education?

Response	Percent
Yes	6
No	94
Refused	0

Note: Number of unweighted respondents = 7,446.

Question SL11. Do you currently owe money used to pay for child's or grandchild's education?

Response	Percent
Yes	6
No	76
Do not have children or grandchildren	17
Refused	0

Note: Number of unweighted respondents = 9,530.

Question SL12. Is the money you owe for your child's or grandchild's education a student loan, home equity loan, credit card debt, or some other type of loan? If you have multiple loans, please select all that apply.

Response	Percent
Student loan	86
Home equity loan	9
Credit card	14
Other loan	9

Note: Number of unweighted respondents = 564.

Retirement Planning Section

Question D1I. Do you consider yourself to be retired?

Response	Percent
Yes	27
No	73
Refused	0

Note: Number of unweighted respondents = 11,648.

Question K0. Do you think that your retirement savings plan is currently on track?

Response	Percent
Yes	36
No	45
Don't know	19
Refused	0

Note: Number of unweighted respondents = 8,030.

Question K2. Do you currently have each of the following types of retirement savings?

Response	Percent
401(k), 403(b), Keogh, or other defined contribution plan through an employer	54
Pension with a defined benefit through an employer that will pay a fixed monthly amount in retirement	21
IRA or Roth IRA	33
Savings outside a retirement account	48
Own a business or real estate that will provide income in retirement	9
Other retirement savings	12

Note: Number of unweighted respondents = 8,030.

Question K8B. When did you retire?

Response	Percent
Within the past year	9
1 or 2 years ago	10
3 or 4 years ago	12
5 years ago or more	68
Refused	1

Note: Number of unweighted respondents = 3,618.

Question K9. Were each of the following important to your decision to retire at the age that you did?

Response	Percent
Health problem	29
Wanted to do other things or spend time with family	48
Didn't like the work	14
Care for family members	15
Reached normal retirement age	45
Forced to retire or lack of available work	11

Note: Number of unweighted respondents = 3,618.

Question K10. Did factors related to COVID-19 contribute to you retiring in the past year?

Response	Percent
Yes	29
No	70
Refused	2

Note: Number of unweighted respondents = 302.

Question K20. Approximately how much money do you currently have saved for retirement?

Response	Percent
Less than $10,000	20
$10,000 to $24,999	8
$25,000 to $49,999	8
$50,000 to $99,999	9
$100,000 to $249,999	13
$250,000 to $499,999	10
$500,000 to $999,999	8
Over $1,000,000	9
Don't know	13
Refused	1

Note: Number of unweighted respondents = 9,628.

Question DC4. How comfortable are you with making your own investment decisions in your retirement accounts?

Response	Percent
Very comfortable	14
Mostly comfortable	25
Slightly comfortable	33
Not comfortable	28
Refused	0

Note: Number of unweighted respondents = 6,010.

Question K5A. In the past 12 months, have you borrowed money from or cashed out (permanently withdrawn) money from any of your retirement savings accounts?

Response	Percent
Yes, borrowed money	4
Yes, cashed out	5
Yes, both	1
No	90
Refused	0

Note: Number of unweighted respondents = 8,030.

Income and Consumption Section

Question I0. In the past 12 months, did you and/or your spouse/partner receive any income from the following sources:

Response	Percent
Wages, salaries, or self-employment income	67
Interest, dividends, or rental income	32
Social Security (including old age and DI)	27
Supplemental Security Income (SSI), TANF, or cash assistance from a welfare program	5
Unemployment income	14
Pension	19

Note: Number of unweighted respondents = 11,648.

Question I0A. Did you (and/or your spouse/partner) receive any income from any source in the past 12 months?

Response	Percent
Yes	33
No	65
Refused	1

Note: Number of unweighted respondents = 917.

Question I40. Which of the following categories best describes the total income that you (and your spouse/partner) received from all sources, before taxes and deductions, in the past 12 months?

Response	Percent
$0	6
$1 to $4,999	6
$5,000 to $14,999	8
$15,000 to $24,999	7
$25,000 to $39,999	10
$40,000 to $49,999	7
$50,000 to $74,999	14
$75,000 to $99,999	11
$100,000 to $149,999	14
$150,000 to $199,999	7
$200,000 or higher	7
Refused	1

Note: Number of unweighted respondents = 11,648.

Question I41. In the past 12 months, have you and/or your spouse/partner received any of the following?

Response	Percent
Earned Income Tax Credit (EITC)	9
Supplemental Nutrition Assistance Program (SNAP or food stamps)	10
Women, Infants, and Children (WIC) nutrition program benefits	9
Housing assistance from government program	3
Free or reduced price school lunches	25
Stimulus payment from the government (typically $1,200 per adult)	70

Note: Number of unweighted respondents = 2,633 (women, infants, and children (WIC) nutrition program benefits or free or reduced price school lunches) and 11,648 (all others).

Question I9. In the past 12 months, which one of the following best describes your (and your spouse's/and your partner's) income?

Response	Percent
Roughly the same amount each month	71
Occasionally varies from month to month	19
Varies quite often from month to month	10
Refused	0

Note: Number of unweighted respondents = 11,648.

Question I12. Because your income varies, have you (and your spouse/and your partner) struggled to pay your bills in the past 12 months?

Response	Percent
Yes	37
No	62
Refused	0

Note: Number of unweighted respondents = 3,152.

Question I20. In the past month, would you say that your (and your spouse's/and your partner's) total spending was:

Response	Percent
More than your income	16
The same as your income	29
Less than your income	55
Refused	1

Note: Number of unweighted respondents = 11,648.

Question I21. Compared to a year ago, have each of the following for you (and/or your spouse/partner) increased, decreased, or stayed about the same?

Response	Percent
Response	Increased	About the same	Decreased	Refused
Total monthly income	24	56	19	0
Total monthly spending	20	58	22	0
Monthly credit card spending	15	56	29	0
Amount of money usually in your checking and savings accounts after paying your monthly bills	21	57	22	0

Note: Number of unweighted respondents = 10,015 (monthly credit card spending), 11,149 (amount of money usually in your checking and savings accounts after paying your monthly bills), and 11,648 (all others).

Question I22. Did each of the following contribute to you (and your spouse/partner) usually having more money in your checking and savings accounts after paying your monthly bills?

Response	Percent
Higher income from job or business	54
Saved at least some of the stimulus payment	68
Saved at least some of unemployment income	72
Paid less on your rent or mortgage	15
Other spending was lower	69

Note: Number of unweighted respondents = 1,738 (saved at least some of the stimulus payment), 303 (saved at least some of unemployment income), and 2,427 (all others).

Financial Support from Outside the Home Section

Question FS11. In the past year, have you (and/or your spouse/partner) received each of the following?

Response	Percent
Free groceries or meals through a food pantry, religious, or community organization	12
Financial assistance from a religious or community organization	2
Financial assistance from friends or family members not living with you	8

Note: Number of unweighted respondents = 11,648.

Question FS30. Who outside of your household provides you with regular financial support or helps you with bill payments?

Response	Percent
Parent(s)	54
My adult child	11
Other relatives	31
Friends	22

Note: Number of unweighted respondents = 857.

Question FS40. Do you provide regular financial support to anyone living outside of your household (such as a parent, child, other relatives, or friends)? This may include cash or help with rent, groceries, educational expenses, student loans, car payments, or other expenses.

Response	Percent
Yes	17
No	83
Refused	0

Note: Number of unweighted respondents = 11,648.

Question FS60. Since the onset of the COVID-19 pandemic in March, have you (and/or your spouse/partner) received any reductions in the amount or extensions to the due date for any of the following regular bills?

Response	Percent
Response	Yes, currently receiving	Yes, previously received but not receiving now	No	Refused
Rent or mortgage	2	2	96	0
Credit card	1	2	97	0
Water, gas, or electric bill	3	2	95	0
Phone or cable bill	2	2	96	0
Car payment	1	2	96	0
Student loan	8	1	91	0
Other bills	2	3	95	1

Note: Number of unweighted respondents = 11,648.

Question FS70. Have any of the following helped you stay in your home since the onset of the COVID-19 pandemic in March?

Response	Percent
Federal, state, or local eviction ban	5
Unemployment assistance	11
Stimulus payment from the government (typically $1,200 per adult)	35
An agreement with my landlord to defer rent payments or make partial payments	5
Mortgage forbearance	4

Note: Number of unweighted respondents = 2,931 (federal, state, or local eviction ban or an agreement with my landlord to defer rent payments or make partial payments), 5,155 (mortgage forbearance), and 11,648 (all others).

Emergency Fund Section

Question EF1. Have you set aside emergency or rainy day funds that would cover your expenses for 3 months in case of sickness, job loss, economic downturn, or other emergencies?

Response	Percent
Yes	55
No	45
Refused	0

Note: Number of unweighted respondents = 11,648.

Question EF2. If you were to lose your main source of income (for example, job or government benefits), could you cover your expenses for 3 months by borrowing money, using savings, or selling assets?

Response	Percent
Yes	33
No	66
Refused	1

Note: Number of unweighted respondents = 4,800.

Question EF3. Suppose that you have an emergency expense that costs $400. Based on your current financial situation, how would you pay for this expense?

Response	Percent
Put it on my credit card and pay it off in full at the next statement	35
Put it on my credit card and pay it off over time	15
With the money currently in my checking/savings account or with cash	44
Using money from a bank loan or line of credit	2
By borrowing from a friend or family member	9
Using a payday loan, deposit advance, or overdraft	1
By selling something	6
I would not be able to pay for the expense right now	12

Note: Number of unweighted respondents = 11,648.

Question EF5A. Which best describes your ability to pay all of your bills in full this month?

Response	Percent
Cannot pay some bills	16
Able to pay all bills	83
Refused	0

Note: Number of unweighted respondents = 11,648.

Question EF5B. How would a $400 emergency expense that you had to pay impact your ability to pay your other bills this month?

Response	Percent
Could not pay some bills	13
Would still be able to pay all bills	87
Refused	0

Note: Number of unweighted respondents = 9,965.

Question EF6A. Are you expecting to be unable to pay or only make a partial payment on each of the following bills this month?

Response	Percent
Rent or mortgage	25
Credit card	39
Water, gas, or electric bill	34
Phone or cable bill	31
Car payment	18
Student loan	11
Other bills	28

Note: Number of unweighted respondents = 1,639.

Question EF6B. Which of the following bills would you likely skip paying, or make only a partial payment on, if you had a $400 emergency expense that you had to pay?

Response	Percent
Rent or mortgage	9
Credit card	46
Water, gas, or electric bill	22
Phone or cable bill	40
Car payment	12
Student loan	26
Other bills	42

Note: Number of unweighted respondents = 1,153.

Question EF7. If you had to move out of your home because you could no longer make your rent payments, where would you go?

Response	Percent
I would find another home to rent	19
I would move in with family or friends	38
I would go to a local shelter	5
I would not have anywhere to go	36
Other	2
Refused	1

Note: Number of unweighted respondents = 1,211.

Health and Insurance Section

Question E1. During the past 12 months, was there a time when you needed each of the following, but went without because you couldn't afford it?

Response	Percent
Prescription medicine	8
Seeing a doctor or specialist	13
Mental health care or counseling	7
Dental care	17
Follow-up care	8

Note: Number of unweighted respondents = 11,648.

Question E1A. Aside from concerns about affording medical care, since the onset of the COVID-19 pandemic in March, was there a time when you needed medical care, but you either delayed or did not receive care because of safety concerns or difficulty accessing care due to COVID-19?

Response	Percent
Yes	30
No	70
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E2. During the past 12 months, have you had any unexpected major medical expenses that you had to pay out of pocket because they were not completely paid for by insurance?

Response	Percent
Yes	17
No	83
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E2A. Approximately how much did you pay out of pocket for unexpected major medical expenses in the past 12 months?

Response	Percent
$1 to $499	21
$500 to $999	20
$1,000 to $1,999	21
$2,000 to $4,999	21
$5,000 or higher	12
Don't know	4
Refused	1

Note: Number of unweighted respondents = 1,983.

Question E2B. Do you currently have any debt from medical care you or your family members have received?

Response	Percent
Yes	16
No	83
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E10. Have you had any medical expenses that you had to pay out of pocket for COVID-19 related care, including a COVID-19 test?

Response	Percent
Yes	6
No	94
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E4. Are you currently covered by any of the following types of health insurance or health coverage plans?

Response	Percent
Insurance through an employer or union	56
Insurance purchased directly from an insurance company	10
Medicare or Medicaid	32
TRICARE, VA, or other military or veteran's health care	5
Insurance purchased through a health insurance exchange	4
Any other health insurance	6

Note: Number of unweighted respondents = 11,648.

Question E5. Do you personally know someone who is currently addicted to opioids or prescription painkillers?

Response	Percent
Yes	8
No	91
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E6C. Do you or someone in your immediate family currently have any unpaid legal expenses, fines, fees, or court costs?

Response	Percent
Yes	6
No	94
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E7. During the past 12 months, have you personally experienced discrimination or unfair treatment because of your race, ethnicity, age, religion, disability status, sexual orientation, gender, or gender identity?

Response	Percent
Yes	10
No	90
Refused	0

Note: Number of unweighted respondents = 11,648.

Question E8. In the past 12 months, did you personally experience discrimination or unfair treatment while doing any of the following?

Response	Percent
Working or applying for a job	43
Banking or applying for a loan	13
Interacting with the police or a government official	23
Receiving or scheduling medical care	13
Renting or buying a home	11
Shopping for goods or services, including restaurants	44
Other activities not listed (please specify)	13

Note: Number of unweighted respondents = 1,088.

Question E9. In the past 12 months, did you personally experience discrimination due to each of the following characteristics?

Response	Percent
Race or ethnicity	66
Age	38
Religion	15
Disability status	15
Gender	37
Sexual orientation	12

Note: Number of unweighted respondents = 1,088.

Childhood Background Section

Question CH2. What is the highest level of education that your mother completed?

Response	Percent
Less than high school degree	18
High school degree or GED	35
Some college but no degree	10
Certificate or technical degree	5
Associate degree	5
Bachelor's degree	13
Graduate degree	7
Don't know	5
Refused	1

Note: Number of unweighted respondents = 11,648.

Question CH3. What is the highest level of education that your father completed?

Response	Percent
Less than high school degree	19
High school degree or GED	30
Some college but no degree	9
Certificate or technical degree	5
Associate degree	3
Bachelor's degree	12
Graduate degree	10
Don't know	10
Refused	1

Note: Number of unweighted respondents = 11,648.

Financial Literacy Section

Question FL2. Do you think the following statement is true or false? "Buying a single company's stock usually provides a safer return than a stock mutual fund."

Response	Percent
Response	Excluding "Don't know"	Including "Don't know"
True	15	4
False	82	42
Don't know	n/a	54
Refused	3	0

Note: Number of unweighted respondents = 5,826 (excluding "Don't know") and 5,822 (including "Don't know"). In the 2020 SHED, half of the respondents received the financial literacy questions as they have been fielded on prior surveys, including the "Don't know" answer option. The other half of the respondents received the same questions without the "Don't know" option.

n/a Not applicable.

Question FL4. Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?

Response	Percent
Response	Excluding "Don't know"	Including "Don't know"
More than today	8	5
Exactly the same	18	7
Less than today	71	61
Don't know	n/a	58
Refused	2	0

n/a Not applicable.

Question FL5. Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?

Response	Percent
Response	Excluding "Don't know"	Including "Don't know"
More than $102	79	73
Exactly $102	11	5
Less than $102	7	5
Don't know	n/a	17
Refused	2	0

n/a Not applicable.

Respondent Demographics

Summary statistics for demographics

Demographic characteristic	Weighted percent	Unweighted percent
Gender
Male	48	51
Female	52	49
Age¹
18–29	21	18
30–44	25	22
45–59	24	24
60+	30	36
Education
Less than high school	7	5
High school degree	22	19
Some college or technical degree	26	25
Associate degree	8	9
Bachelor's degree or more	36	43
Race/ethnicity
White, non-Hispanic	63	70
Black, non-Hispanic	12	10
Hispanic	17	12
Asian, non-Hispanic	6	4
Other, non-Hispanic	3	4
Family income
Less than $25,000	28	24
$25,000–$49,999	17	18
$50,000–$99,999	25	26
$100,000 or more	29	31
Household income
Less than $25,000	13	12
$25,000–$49,999	17	17
$50,000–$99,999	32	31
$100,000 or more	39	40
Marital status
Single, not living with partner	37	36
Living with partner	7	6
Married	56	58
Region
Northeast	17	18
Midwest	21	23
South	38	36
West	24	23

Note: Number of unweighted respondents = 11,648.

1. Mean weighted age = 48. Mean unweighted age = 51. Return to table

Last Update: June 13, 2022