Board of Governors of the Federal Reserve System

Appendix B: Consumer Responses to Survey Questions

Questions are listed below in order in which they were presented to respondents. Questions with fewer than 12,295 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. First, do each of the following people currently live with you?

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

Question L0C. How many children do you have who are under age 18 and currently live with you?

Question L0E. How old is your youngest child that lives with you?

General Well-Being Section

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

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

Question B3A. You said that you (and your family) are (somewhat/much) worse off financially compared to 12 months ago. What factors(s) have contributed to that? Please select all that apply.

Question B3B. You said that you (and your family) are (somewhat/much) better off financially compared to 12 months ago. What factors(s) have contributed to that? Please select all that apply.

Question B7. How would you rate economic conditions today:

Question X12. Are each of the following a financial challenge or concern for you or your family?

Question X13. In the prior question you indicated that finding or keeping a job and increases in prices for things you buy were both (minor concerns or major concerns). Between the two, are you:

Caregiving Section

Question CG0. In the past week, did you use any paid childcare?

Question CG1A. In the past week, how many hours did you use paid childcare?

Question CG2. How much do you pay per week for childcare in total for all of your children?

Question CG7. In the past week, did you use of the following forms of unpaid childcare (select all that apply)?

Question CG8. In the past week, how many hours did you use the unpaid childcare you just mentioned?

Question CG3. When it comes to taking care of your children when they are at home, which of the following statements best describes the caretaking responsibilities?

Question CG4. Do you regularly provide unpaid help or care of an adult relative or friend who needs assistance due to aging, disability, or illness?

Question CG5. Do you regularly provide unpaid help or care to each of the following people due to aging, disability, or illness?

Question CG6. About how often do you provide unpaid help or care to an adult relative or friend who needs assistance due to aging, disability, or illness?

Employment Section

Question D1A. This section will ask some questions about your recent work-related activities. Last month, did you do any work for either pay or profit?

Question D4. Last month, did you have more than one job, including part time, evening, or weekend work?

Question D48. Thinking about all your jobs, do you usually work 35 hours or more per week?

Question D3B. Thinking about your main job (where you earn the most money), do you usually work 35 hours or more per week?

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

Question D22. Did each of the following contribute to you (not working/working less than 35 hours per week) in the last month?

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

Question D3E. You indicated that you (are self-employed/do not work for someone else). Do you own a business that has any paid employees, excluding owner(s)?

Question D28. How often do each of these statements describe your work situation at your main job?

Question D50. Did you use Generative AI at your job last month?

Question D51. Last month, about how often did you use Generative AI at your job?

Question D52. Do you agree or disagree with the following statements about using Generative AI for your job?

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?

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

Question D34D. Last week, how many days did you telecommute or work from home?

Question D36B. How likely would you be to actively look for another job or leave your job if your employer (kept your pay the same for a year/decreased your pay by 1 percent/5 percent/10 percent)?

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

Question D44. (Think about any job in the past 12 months.) In the past 12 months, have you:

Question D37A. You indicated that you started a new job in the past 12 months. Is your main job (where you earn the most money) the same as it was a year ago?

Question D38. Are each of the following better, the same, or worse at the main job you have now than the one you had a year ago?

Question D39. Overall, is the main job you have now better, the same, or worse than the one you had a year ago?

Question D1B. If you wanted to, how confident are you that you could get a job in the next 3 months?

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

Question D49. Does your spouse or partner usually work 35 hours or more per week?

Housing Section

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

Question GH12. Do you have either a homeowners insurance or a condo insurance policy for your primary residence?

Question GH12A. What is the main reason you do not have homeowners insurance?

Question GH14. Still thinking about homeowners insurance for your primary residence, how much do you pay for your homeowners insurance?

Question GH14A. Time period for homeowners insurance payment reported in GH14

Question GH15. Have you or someone in your household shopped around for homeowners insurance in the past 12 months?

Question GH16. Do you agree or disagree with the following statements about your homeowners insurance? (Please select all that apply)

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

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

Question R5B. Did each of the following contribute to your moving in the past year?

Question R5C. Did each of the following contribute to your moving in the past year?

Question R3. Approximately how much do you [and/or your spouse or partner] pay for rent each month?

Question R11. Have you been behind on your rent at any time in the past year?

Question R18. Do you (or your landlord) use a rent reporting service to report your rental payment history with at least one credit bureau?

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

Natural Disasters Section

Question ND0. In the past year, have you been financially affected by natural disasters or severe weather events like flooding, hurricanes, wildfires, or extreme temperatures?

Question ND1. In the past year, have natural disasters or severe weather events like flooding, hurricanes, wildfires, or extreme temperatures affected you in each of the following ways?

Question ND4. In the past year, have you done each of the following at least partially because of the threat of natural disasters or severe weather events?

Banking Section

Question BK1. This section will ask some questions about your experiences with banks and credit. Do you and/or your spouse or partner currently have a checking, savings, or money market account?

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

Question BK47. Some people experience fraud or scams involving their financial accounts. In the past year, have you personally experienced either of the following fraud or scams involving your money?

Question BK48. Did you lose any money to the fraud or scam?

Question BK49A. Approximately how much money did you lose in the fraud or scam before any money was recovered?

Question BK49B. Approximately how much money did you recover or get refunded?

Question BK53. Still thinking about the most recent financial fraud or scam you experienced in the past year (other than credit card fraud), which payment methods were involved? Please select all that apply.

Question BK54. Which of the following services was involved in the fraud or scam you experienced?

Question BK55. Did you communicate with your bank or financial services company for assistance in dealing with the most recent fraud or scam (that did not involve your credit card)?

Question BK56. Did you or your bank do each of the following because of the most recent fraud you experienced (that did not involve your credit card)?

Question BK57. Did you notify any of the following organizations about the most recent fraud or scam you experienced (that did not involve your credit card)?

Question BK50. Still thinking about the most recent financial fraud or scam you experienced in the past year, how much time have you spent trying to recover funds or dealing with the consequences?

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?

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

Question A7. What types of credit have you applied for in the past 12 months?

Question A0B. Was there a time in the past 12 months that you desired credit but chose not to submit a credit application?

Question A1. In the past 12 months, has each of the following happened to you:

Question A8. Were you turned down or offered less credit than requested for the following types of credit in the past 12 months?

Question A2. You indicated that you 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?

Credit Condition Section

Question C2A. Do you currently have at least one credit card? Please do not include debit cards or prepaid cards.

Question C3P. Last month, how did you handle your credit card bills?

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

Question BNPL1. In the past year, have you used a "Buy Now, Pay Later" service to buy something?

Question BNPL3. In the past year, have you ever been late making a payment for something you bought using a Buy Now, Pay Later service?

Question BNPL3A. In the past year, have you been charged extra because you were late on a Buy Now, Pay Later payment?

Question BNPL1A. In the past year, did any of your Buy Now, Pay Later payments trigger an overdraft or non-sufficient funds (NSF) fee on your bank account?

Question BNPL4. Thinking about the most recent time you used a Buy Now, Pay Later service, were each of the following a reason why you chose to finance the purchase in this way?

Question BNPL5. Thinking about the most recent time you used a Buy Now, Pay Later service, which of the following was the most important reason why you chose to finance the purchase in this way?

Question BNPL6. In the past year, when you have used Buy Now, Pay Later, which of the following have you used it for?

Question BNPL7. Do you agree or disagree with the following statements about using Buy Now, Pay Later?

Cryptocurrency Section

Question S16. In the past year, have you done the following with cryptocurrency, such as Bitcoin or Ethereum?

Question S18. Were any of the family or friends you sent cryptocurrency to living outside of the United States?

Question S21. What was the main reason you used cryptocurrency to buy something, make a payment, or send money?

Education Section

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

Question D1G. Are you currently enrolled as a student?

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

Student Loans Section

Question SL21. Do you have any student loans? These can be for your own or someone else's education.

Question SL22. Whose education were your student loans used for?

Question SL23. Last month, how did you handle your student loan payments?

Question SL24. In the past 12 months, did you have difficulty making payments on your student loans (for your own or someone else's education)?

Question SL25. Which of the following contributed to why you most recently had difficulty making student loan payments?

Question SL26. In the past 12 months, did you experience any of the following to collect money owed on your student loans?

Retirement and Investments Section

Question D1I. Do you consider yourself to be retired?

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

Question K8A. At what age did you retire?

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

Question K14. You indicated you consider yourself to be retired and that you worked for pay last month. Were each of the following important for your decision to work last month?

Question K15. Were each of the following true about your decision to work last month?

Question K21. Do you currently have each of the following types of savings or assets?

Question K5A. In the past 12 months, have you done each of the following?

Question DC4. How comfortable are you with choosing and managing your investments?

Question FL0. On a scale from zero to ten, where zero is not at all willing to take risks and ten is very willing to take risks, what number would you be on the scale?

Income and Consumption Section

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

Question I40. Which category represents your and your spouse/partner's total combined income in the past 12 months?

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

Question FS21. In the past 12 months, has anyone outside of your household helped you and/or your spouse or partner to pay each of the following expenses?

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

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

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

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

Inflation Section

Question INF4. Overall, have changes in the prices you pay compared to last year made your financial situation worse, better, or had little or no effect?

Question INF3. Did you take any of the following actions because of increases in prices over the past 12 months?

Question INF5. In the past 12 months, did you make any large purchases sooner than you had planned because you expected prices to increase?

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?

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?

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?

Question EF5C. Other than any credit card bills you may have, did you pay all your bills in full last month?

Question EF5D. Did you have any bills that you had difficulty paying last month?

Question EF8. (In addition to not paying a bill in full,) did you do each of the following when you had difficulty paying a bill last month?

Question EF7. Based on your current financial situation, what is the largest emergency expense that you could handle right now using only your savings?

Question EF7A. Based on your current financial situation, what is the largest emergency expense that you could handle right now using only your savings?

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

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

Food Security Section

Question FD3. In the past month, which of these statements best describes the food eaten in your household?

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?

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

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

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?

Question E11. During the past 12 months, have you had any of the following other unexpected major expenses?

Question E12. Approximately how much did you pay for these unexpected major expenses in the past 12 months?

Childhood Background Section

Question CH2A. Thinking about your family or primary caregivers growing up, what was the highest level of education achieved by any parent or guardian?

Merge Consent Section

Question CM0. Finally, to better understand the survey results, can we have your permission to anonymously match your credit history with your responses to this survey?

Question CM2. Thank you! To help make sure we are matching the right credit history, can we also use your birthday? After the match, your birthday will be deleted from the dataset.

Demographics

Summary statistics for demographics