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Report on the Economic Well-Being of U.S. Households (SHED)

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Appendix B: Consumer Responses to Survey Questions

Questions are listed below in the order in which they were presented to respondents. Questions with fewer than 11,316 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 types of people currently live with you in your household?
Response Percent
My spouse or partner 65
My child(ren) under age 18 26
My adult child(ren) age 18 or older 15
My parent(s) 12
Extended family 7
Roommate(s) not related to me 5
Other individuals 4

Note: Number of unweighted respondents = 11,316.

Question L0A. Which of the following best describes the adult children (who are age 18 or older) who live with you?
Response Percent
All currently enrolled in school 31
One or more not currently enrolled in school 69
Refused 0

Note: Number of unweighted respondents = 1,650.

Question L1. You indicated that you live with (your parents, extended family members, a roommate, adult children who are not in school, or) someone outside of your immediate family. Are each of the following reasons why you live with these individuals?
Response Percent
To save money 57
To help those living with me financially 43
To care for family member or friend 28
To receive help with child care 7
Prefer living with others 22
Other 22

Note: Number of unweighted respondents = 2,905.

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 34
Doing okay 41
Just getting by 18
Finding it difficult to get by 7
Refused 0

Note: Number of unweighted respondents = 11,316.

Question B3. Compared to 12 months ago, would you say that you (and your family living with you) are better off, the same, or worse off financially?
Response Percent
Much better off 7
Somewhat better off 24
About the same 55
Somewhat worse off 11
Much worse off 2
Refused 0

Note: Number of unweighted respondents = 11,316.

Question B6. Think of your parents when they were your age. Would you say you (and your family living with you) are better off, the same, or worse off financially than they were?
Response Percent
Much better off 26
Somewhat better off 30
About the same 25
Somewhat worse off 14
Much worse off 5
Refused 1

Note: Number of unweighted respondents = 11,316.

Question B8. Imagine a ladder showing where people stand in the United States. At the top are the people who are best off—those who have the most money, the best education, and the most respected jobs. At the bottom are the people who are worst off—those who have the least money, the least education, and the least respected jobs or no job. Where would you place yourself on this ladder?
Response Percent
10. Top of the ladder 1
9 3
8 13
7 24
6 20
5 18
4 10
3 6
2 2
1. Bottom of the ladder 2
Refused 0

Note: Number of unweighted respondents = 11,316.

Question B7. How would you rate economic conditions today:
Response Percent
Poor Only fair Good Excellent Refused
In your community 7 29 53 11 0
In this country 10 37 44 7 1

Note: Number of unweighted respondents = 11,316.

Question B11. And now a general question about trust. On a scale from 0 to 10, where 0 is not at all and 10 is completely, in general how much do you trust most people?
Response Percent
0. Not at all 4
1 3
2 6
3 10
4 10
5 24
6 15
7 18
8 9
9 1
10. Completely 0
Refused 0

Note: Number of unweighted respondents = 11,316.

Employment Section

Question D1A. Last month, did you do any work for either pay or profit?
Response Percent
Yes 62
No 38
Refused 0

Note: Number of unweighted respondents = 11,316.

Question D1E. At any time during the past month did you want to work (more)?
Response Percent
Yes 32
No 67
Refused 0

Note: Number of unweighted respondents = 11,316.

Question D21. Did each of the following contribute to you not working or not working as much as you wanted last month?
Response Percent
Could not find (more) work 24
Child care 9
Other family or personal obligations 21
Health/medical limitations or disability 24
Going to school or in training 8
Retired 34
Other (please specify) 2

Note: Number of unweighted respondents = 7,039.

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:
Response Percent
For a single company or employer 87
For yourself or your family business 13
Other (please specify) 0
Refused 1

Note: Number of unweighted respondents = 6,440.

Question D3B. Still thinking about your main job, do you usually work:
Response Percent
Full time (35 or more hours per week) 74
Part time (less than 35 hours per week) 25
Refused 0

Note: Number of unweighted respondents = 6,440.

Question D20. You indicated that you did not work full time at this job. Did you want a full-time job?
Response Percent
Yes 24
No 64
Don't know 12
Refused 0

Note: Number of unweighted respondents = 1,736.

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 17
Refused 0

Note: Number of unweighted respondents = 5,447.

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
2–3 days in advance 12
4–6 days in advance 12
1–2 weeks in advance 23
3 weeks in advance or longer 16
Refused 0

Note: Number of unweighted respondents = 933.

Question D33. A temporary job lasts for a limited time or until the end of a project. Is your main job a temporary job?
Response Percent
Yes 8
No 90
Don't know 2
Refused 0

Note: Number of unweighted respondents = 6,440.

Question D4. In addition to your main job, did you have any other jobs last month?
Response Percent
Yes 15
No 85
Refused 0

Note: Number of unweighted respondents = 6,440.

Question D6. In your additional job(s), were you working:
Response Percent
For a single company or employer 63
For yourself or your family business 43
Other (please specify) 0

Note: Number of unweighted respondents = 998.

Question D44. Think about any job in the past 12 months not just your main job last month. In the past 12 months, have you:
Response Percent
Asked for a raise or a promotion 14
Received a raise or a promotion 44
Applied for a new job 21
Started a new job 13
Voluntarily left a job 8
Gotten laid-off or fired from a job 3

Note: Number of unweighted respondents = 6,440 (asked for or received a raise) and 11,316 (all others).

Question D5. Last month, did your spouse or partner do work for either pay or profit?
Response Percent
Yes 65
No 35
Refused 0

Note: Number of unweighted respondents = 6,807.

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 5
Dog walking, feeding pets, or housesitting 3
House cleaning, yard work, or other property maintenance work 6
Driving or ride-sharing, such as with Uber or Lyft 3
Paid tasks online, such as posting YouTube videos (do not include GfK surveys) 2
Other personal tasks, such as deliveries, running errands, or helping people move 4

Note: Number of unweighted respondents = 11,316.

Question GE2. In the past month, have you been paid for each of the following activities?
Response Percent
Sold goods yourself at flea markets or garage sales 5
Sold goods at consignment shops or thrift stores 3
Sold goods online, such as on eBay or Craigslist 10
Rented out property, such as your car or your house 4
Any other paid activities that you have not already mentioned in the survey (do not include GfK surveys). Please specify. 2

Note: Number of unweighted respondents = 11,316.

Question GE10. In the past month, what were your reasons for doing these activities? Check all that apply.
Response Percent
Earn money as main source of income 21
Earn money in addition to main source 50
Earn money to help family members 10
Maintain or acquire job-related skills 5
Sell items no longer needed 35
Meet people, have a social activity or hobby 8
Other (please specify) 4
Refused 9

Note: Number of unweighted respondents = 3,152.

Question GE11. In the past month, what was your reason for doing these activities? Check one.
Response Percent
Earn money as main source of income 18
Earn money in addition to main source 37
Earn money to help family members 4
Maintain or acquire job-related skills 1
Sell items no longer needed 23
Meet people, have a social activity or hobby 3
Other 5
Refused 9

Note: Number of unweighted respondents = 3,152.

Question GE4. Were any of these activities the main job that you told us about already?
Response Percent
Yes 26
No 74
Refused 1

Note: Number of unweighted respondents = 3,152.

Question GE20. How much time did you spend last month on any of these activities? (Do not include taking GfK Surveys.)
Statistic Value
Mean hours 21
Median hours 5
Refused (percent) 5

Note: Number of unweighted respondents = 3,203.

Question GE22. Relative to a year ago, did you spend more, the same, or less time on these activities last month?
Response Percent
More 9
Less 10
About the same 40
Does not apply, have not done these activities 40
Refused 1

Note: Number of unweighted respondents = 11,316.

Question GE40a. In the past 12 months, how much of your income was from these activities?
Response Percent
Under 10% 55
10–19% 9
20–29% 5
30–39% 3
40–49% 2
50–59% 2
60–69% 1
70–79% 1
80–89% 1
90% or more 6
Don't know 14
Refused 1

Note: Number of unweighted respondents = 3,152.

Question GE40b. In the past 12 months, have you regularly earned money from these activities?
Response Percent
Yes, in all or most months 30
No, only in some or a few months 69
Refused 1

Note: Number of unweighted respondents = 3,152.

Question GE5. Some people doing these activities use companies that connect them directly with customers using a website or mobile app. For example, Uber and Lyft help drivers find riders. Last month, did you find any paid work or customers using a company like this?
Response Percent
Yes 10
No 89
Refused 1

Note: Number of unweighted respondents = 3,152.

General Housing Section

Question GH1. Please describe the housing arrangement where you currently live. Do you and/or your spouse/partner:
Response Percent
Own home with a mortgage or loan 43
Own home free and clear (without a mortgage or loan) 21
Pay rent 27
Neither own home nor pay rent 9
Refused 0

Note: Number of unweighted respondents = 11,316.

Question GH2N. Did you move into your current home after October 2016?
Response Percent
Yes 22
No 78
Refused 0

Note: Number of unweighted respondents = 11,316.

Question GH3. How satisfied are you with each of the following aspects of your housing situation?
Response Percent
Very
dis-
satisfied		 Some-
what dis-
satisfied		 Neither satisfied nor dis-
satisfied		 Some-
what satisfied		 Very satisfied Refused
Overall quality of your neighborhood 4 8 12 34 42 0
Quality of your local schools 5 8 29 28 30 1
Safety of neighborhood 4 8 13 35 38 0
Quality of other neighborhood amenities 4 9 26 33 26 0
Overall quality of your housing 4 9 14 37 36 0
Cost of your housing 7 12 18 33 29 0

Note: Number of unweighted respondents = 10,555 (cost of housing) and 11,316 (all others).

Question GH10. In deciding where to live, how important is it to you to have convenient access to each of the following places in your local community?
Response Percent
Not important Slightly important Moder-
ately important		 Very important Refused
Park or playground 32 25 27 15 1
Library 26 25 29 20 1
Bank or credit union 14 20 35 30 1
Grocery store 3 9 30 58 1
Shops and restaurants 8 17 38 37 1
Church or place of worship 34 18 23 25 1
Public transportation 41 22 19 18 1

Note: Number of unweighted respondents = 11,316.

Rent Section

Question R1. Please select all the reasons below for why you rent your home rather than own your home.
Response Percent
Cheaper to rent 26
Owning is a bigger financial risk 22
More convenient to rent 31
Plan to move soon 19
Can't qualify for mortgage to buy 28
Can't afford down payment to buy 50
Prefer to rent 18
Currently looking to buy 13
Other 10
Refused 0

Note: Number of unweighted respondents = 3,071.

Question R4. Before your recent move, did you own your previous home?
Response Percent
No 86
Yes, and I still own that home 3
Yes, and I no longer own that home 10
Refused 0

Note: Number of unweighted respondents = 1,267.

Question R5A. An eviction is when your landlord forces you to move when you don't want to. Were you, or a person you were staying with, evicted from your home?
Response Percent
Yes 6
No 94
Refused 0

Note: Number of unweighted respondents = 1,048.

Question R5B. Did each of the following contribute to your moving from your previous home?
Response Percent
Received an eviction notice 1
Landlord told you, or a person you were staying with, to leave 4
You missed a rent payment and thought you would be evicted 2
City condemned the property and forced you to leave 0

Note: Number of unweighted respondents = 975.

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 9
Received a notice from bank that they planned to foreclose 9
Missed mortgage payments and thought bank would foreclose 9
City condemned the property and forced you to leave 1

Note: Number of unweighted respondents = 171.

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 52
No 48
Refused 0

Note: Number of unweighted respondents = 3,071.

Question R8. Did you contact your landlord about the problem with your house or apartment that needed to be fixed?
Response Percent
Yes 90
No 9
Refused 0

Note: Number of unweighted respondents = 1,639.

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
Substantial difficulty 17
Moderate difficulty 16
A little difficulty 21
None 45
Refused 0

Note: Number of unweighted respondents = 1,484.

Question R3. About how much do you (and/or your spouse and/or your partner) pay for rent each month?
Response Percent
Less than $250 6
$250–$499 14
$500–$749 20
$750–$999 19
$1,000–$1,249 13
$1,250–$1,499 8
$1,500–$1,749 6
$1,750–$1,999 4
$2,000 or above 7
Don't know 2
Refused 1

Note: Number of unweighted respondents = 3,071.

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–$749 13
$750–$999 14
$1,000–$1,249 16
$1,250–$1,499 13
$1,500–$1,749 8
$1,750–$1,999 6
$2,000–$2,499 9
$2,500 or above 9
Don't know 4
Refused 1

Note: Number of unweighted respondents = 4,653.

Banking Section

Question BK1. Do you (and/or your spouse and/or your partner) currently have a checking, savings, or money market account?
Response Percent
Yes 93
No 6
Refused 1

Note: Number of unweighted respondents = 11,316.

Question BK2. In the past 12 months, did you (and/or your spouse and/or your partner):
Response Percent
Purchase a money order from a place other than a bank 12
Cash a check at a place other than a bank 8
Take out a payday loan or payday advance 3
Take out a pawn shop loan or an auto title loan 3
Obtain a tax refund advance to receive your refund faster 1
Refused 0

Note: Number of unweighted respondents = 11,316.

Question BK11. In the past 12 months, did you (and/or your spouse and/or your partner) access a bank account in any of the following ways?
Response Percent
Visiting a bank teller 74
Using an ATM or bank kiosk 76
Calling the bank 33
Using a computer or tablet 75
Using a mobile phone, including an app 62
In any other way 4
Refused 0

Note: Number of unweighted respondents = 10,646.

Question BK20. In the past 12 months, have you (and/or your spouse and/or your partner) used your mobile phone to:
Response Percent
Deposit a check using your phone's camera 37
Pay for something in a store, such as with Apple Pay or Google Pay instead of cash or a physical card 19
Send money to a person, such as with Venmo, Cash App,
or Zelle		 27
Do not own a mobile phone 6
Refused 0

Note: Number of unweighted respondents = 11,316.

Question BK40. In the past 12 months, have you had difficulty getting money out of your bank account for any of the following reasons? (Please check all that apply.)
Response Percent
Delay in when you could use your money (deposit hold) 6
Your account was locked or frozen 3
Bank's website or mobile app didn't work 7
Other (please specify) 1

Note: Number of unweighted respondents = 10,646.

Question BK42. Which of these would you say was your most serious problem?
Response Percent
Delay in when you could use your money (deposit hold) 38
Your account was locked or frozen 17
Bank's website or mobile app didn't work 38
Other 6
Refused 1

Note: Number of unweighted respondents = 1,345.

Question BK44. Did you contact your bank about this problem?
Response Percent
By phone, by going to the bank, or via the bank's website or app 62
Using social media, such as by tweeting at the bank or posting on the bank's Facebook page 4
Other (please specify) 1

Note: Number of unweighted respondents = 1,357.

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
Very confident 60
Somewhat confident 19
Not confident 15
Don't know 6
Refused 0

Note: Number of unweighted respondents = 11,316.

Question A0. In the last 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 35
No 64
Refused 0

Note: Number of unweighted respondents = 11,316.

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 9
No 91
Refused 1

Note: Number of unweighted respondents = 7,456.

Question A1. In the past 12 months, please tell us if each of the following has or has not happened to you (or your spouse/or your partner):
Response Percent
You (or your spouse or your partner) were turned down
for credit		 23
You (or your spouse/or your partner) were approved for credit, but were not given as much credit as you applied for 17
You (or your spouse/or your partner) put off applying for credit because you thought you might be turned down 15
Refused 0

Note: Number of unweighted respondents = 3,860.

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 57
No 42
Refused 1

Note: Number of unweighted respondents = 663.

Credit Condition Section

Question C2A. Do you have at least one credit card?
Response Percent
Yes 81
No 18
Refused 0

Note: Number of unweighted respondents = 11,316.

Question C3. Do you currently have any outstanding unpaid credit card debt?
Response Percent
Yes 45
No 55
Refused 0

Note: Number of unweighted respondents = 9,400.

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
Less debt now 30
About the same 40
More debt now 30
Refused 0

Note: Number of unweighted respondents = 4,272.

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) 47
Once 6
Some of the time 20
Most or all of the time 27
Refused 0

Note: Number of unweighted respondents = 9,400.

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 28
Some college but no degree (including currently enrolled
in college)		 17
Certificate or technical degree 5
Associate degree 9
Bachelor's degree 19
Master's degree 9
Professional degree (e.g., MBA, MD, JD) 3
Doctoral degree 2

Note: Number of unweighted respondents = 11,316.

Question D1G. Are you currently enrolled as a student?
Response Percent
No 91
Yes, as a part-time student 3
Yes, as a full-time student 5
Refused 0

Note: Number of unweighted respondents = 11,316.

Question ED0B. What type of program are you currently pursuing?
Response Percent
High school or GED program 7
Non-degree training program 3
Certificate or technical degree 10
Associate degree 15
Bachelor's degree 43
Master's degree 12
Professional degree (e.g., MBA, MD, JD) 4
Doctoral degree 6
Refused 0

Note: Number of unweighted respondents = 680.

Question ED0D. Have you ever enrolled in an educational degree program beyond high school?
Response Percent
Yes 12
No 88
Refused 0

Note: Number of unweighted respondents = 2,670.

Question ED1. Which one of the following broad categories best describes your current/most recent educational program?
Response Percent
Humanities/arts 9
Social/behavioral sciences 7
Life sciences 3
Physical sciences/math 4
Computer/information sciences 8
Engineering 7
Education 9
Business/management 20
Health 12
Law 3
Vocational/technical training 8
Undeclared 6
Other (please specify) 0
Refused 3

Note: Number of unweighted respondents = 8,575.

Question ED4. In what year did you last attend this educational program?
Statistic Value
Mean year 1996
Median year 1998
Refused (percent) 6

Note: Number of unweighted respondents = 2,778.

Question ED5. Overall, how would you say the lifetime financial benefits of your current/most recent educational program compare to its financial costs?
Response Percent
Financial benefits are much larger 18
Financial benefits are somewhat larger 14
About the same financial benefits and financial costs 36
Financial costs are somewhat larger 10
Financial costs are much larger 16
Refused 5

Note: Number of unweighted respondents = 3,110.

Question ED6. If you could go back and make your education decisions again, would you have done any of these things?
Response Percent
Chosen a different field of study 40
Attended a different school 34
Completed less education 5
Completed more education 72
Chosen not to attend college 11

Note: Number of unweighted respondents = 2,778.

Question ED9. In what year did you receive your most recent degree?
Statistic Value
Mean year 1996
Median year 2000
Refused (percent) 2

Note: Number of unweighted respondents = 5,436.

Question ED10. Overall, how would you say the lifetime financial benefits of your associate degree/bachelor's degree program compare to its financial costs:
Response Percent
Financial benefits are much larger 40
Financial benefits are somewhat larger 22
About the same financial benefits and financial costs 21
Financial costs are somewhat larger 9
Financial costs are much larger 7
Refused 1

Note: Number of unweighted respondents = 5,436.

Question ED11. If you could go back and make decisions regarding your most recent education program again, would you have done any of these things:
Response Percent
Chosen a different field of study 36
Attended a different school 23
Completed less education 4
Completed more education 40
Chosen not to attend college 4

Note: Number of unweighted respondents = 5,436.

Question ED0C. Have you ever enrolled in a 4-year bachelor's degree program?
Response Percent
Yes 23
No 77
Refused 0

Note: Number of unweighted respondents = 156.

Question ED4A. In what year did you last attend the bachelor's degree program that you were enrolled in?
Statistic Value
Mean year 2014
Median year 2014
Refused (percent) 1

Note: Number of unweighted respondents = 35

Question ED4B. How likely is it that you will return to school and complete the program that you started but did not complete?
Response Percent
Definitely will return and complete program 17
Probably will return and complete program 21
Not sure 32
Probably will not return and complete program 9
Definitely will not return and complete program 21
Refused 0

Note: Number of unweighted respondents = 246.

Question ED13. Which of the following are reasons why you did not attend college?
Response Percent
Too expensive 33
Had to take care of child(ren) 14
Supported or cared for parents or siblings 4
Needed to earn money 32
Wanted to work 35
Simply was not interested in college 39
Was not admitted 1
Did not think benefits of attending college were worth the cost 16
Illness or health issues 4
Other (please specify) 3
Refused 2

Note: Number of unweighted respondents = 2,334.

Question ED14. Which of the following are reasons why you did not complete your college degree?
Response Percent
Too expensive 37
Had to take care of child(ren) 23
Supported or cared for parents or siblings 5
Needed to earn money 45
Wanted to work 25
Simply not interested in continuing in college 20
Low grades 10
Did not think the benefits of continuing college were worth the cost 18
Illness or health issues 13
Other (please specify) 6
Refused 2

Note: Number of unweighted respondents = 699.

Student Loans Section

Question SL1. Do you currently have student loan debt or owe any money used to pay for your own education? Please include any loans on which you are a co-signer that were used to pay for your education beyond high school (including student loans, home equity loans, or credit cards paid off over time).
Response Percent
Yes 16
No 84
Refused 1

Note: Number of unweighted respondents = 11,316.

Question SL2. Think about the money you currently owe for your own education. Is the money you owe for that education a student loan, a home equity loan, a credit card debt, or some other type of loan? If you have multiple loans, please select all that apply.
Response Percent
Student loan 93
Home equity loan 7
Credit card 24
Other loan (please specify) 12

Note: Number of unweighted respondents = 1,640.

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 15
$5,000–$9,999 12
$10,000–$14,999 10
$15,000–$19,999 8
$20,000–$24,999 7
$25,000–$29,999 7
$30,000–$39,999 8
$40,000–$49,999 7
$50,000–$74,999 9
$75,000–$99,999 4
$100,000 or above 7
Don't know 5
Refused 1

Note: Number of unweighted respondents = 1,640.

Question SL4. Approximately how much is the total monthly payment that you are required to make on the loans from your education? Please only include the amount that you are paying, and not money that is paid by others on your behalf.
Response Percent
I am currently not required to make any payments on
these loans		 28
$1–$49 4
$50–$99 9
$100–$199 15
$200–$299 11
$300–$399 8
$400–$499 4
$500–$749 6
$750–$999 2
$1,000 or above 4
Don't know 8
Refused 1

Note: Number of unweighted respondents = 1,640.

Question SL6. Are you behind on payments or in collections for one or more of the loans from your own education?
Response Percent
Yes 19
No 81
Refused 1

Note: Number of unweighted respondents = 1,640.

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 = 9,676.

Question SL8. Still thinking about the money you borrowed to pay for your own education, did you borrow money for each of the following educational programs (including any loans which you have completely repaid or for education you did not complete)?
Response Percent
Certificate or technical training 14
Associate degree 21
Bachelor's degree 62
Professional degree (e.g., MBA, MD, JD) 9
Master's degree or doctoral degree 18

Note: Number of unweighted respondents = 3,503.

Question SL10. Do you currently owe any money used to pay for your spouse's/partner's education? Please only include any loans on which you are a co-signer that were used to pay for their education beyond high school (including student loans, home equity loans, or credit cards paid off over time).
Response Percent
Yes 5
No 94
Refused 1

Note: Number of unweighted respondents = 6,807.

Question SL11. Do you currently owe any money used to pay for your child's or grandchild's education? Please only include any loans on which you are a co-signer that were used to pay for their education beyond high school (including student loans, home equity loans, or credit cards paid off over time).
Response Percent
Yes 6
No 75
Do not have children or grandchildren 19
Refused 0

Note: Number of unweighted respondents = 9,895.

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 81
Home equity loan 11
Credit card 15
Other loan (please specify) 9

Note: Number of unweighted respondents = 543.

Retirement Planning Section

Question D1I. Do you consider yourself to be retired?
Response Percent
Yes 27
No 73
Refused 1

Note: Number of unweighted respondents = 11,316.

Question K0. Do you think that your retirement savings plan is currently on track?
Response Percent
Yes 36
No 44
Don't know 19
Refused 1

Note: Number of unweighted respondents = 7,306.

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 22
IRA or Roth IRA 33
Savings outside a retirement account 42
Real estate or land that will provide income in retirement 14
Ownership of a business 7
Other retirement savings (please specify) 1

Note: Number of unweighted respondents = 7,306.

Question K20. Approximately how much money do you currently have saved for retirement?
Response Percent
Less than $10,000 19
$10,000–$24,999 10
$25,000–$49,999 9
$50,000–$99,999 11
$100,000–$249,999 14
$250,000–$499,999 10
$500,000–$999,999 7
Over $1,000,000 5
Don't know 13
Refused 1

Note: Number of unweighted respondents = 5,064.

Question DC4. How comfortable are you with making your own investment decisions in your retirement accounts?
Response Percent
Very comfortable 13
Mostly comfortable 27
Slightly comfortable 35
Not comfortable 25
Refused 0

Note: Number of unweighted respondents = 5,064.

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 5
Yes, cashed out 4
Yes, both 1
No 90
Refused 1

Note: Number of unweighted respondents = 7,306.

Question K8A. At what age did you retire?
Statistic Value
Mean age 59
Median age 62
Not sure (percent) 14
Refused (percent) 1

Note: Number of unweighted respondents = 4,010.

Question K9. How important were each of the following in your decision to retire at the age that you did?
Response Percent
Not important Somewhat important Very important Refused
Poor health 60 15 23 2
Wanted to do other things 42 30 25 3
Didn't like the work 70 19 8 4
Family responsibilities 64 16 17 3
Wanted to spend more time
with family		 45 26 26 3
Forced to retire or lack of available work 73 10 13 3

Note: Number of unweighted respondents = 4,010.

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 or salaries 68
Self-employment 16
Other paid activities (do not include GfK surveys) 12
Interest, dividends, or rental income 28
Social Security (including old age, SSI, and DI) 28
Unemployment income 3
Pension 18
Any other income 9

Note: Number of unweighted respondents = 11,316.

Question I0A. Did you (and/or your spouse/partner) receive any income from any source in the past 12 months?
Response Percent
Yes 19
No 74
Refused 7

Note: Number of unweighted respondents = 661.

Question I40. Which of the following categories best describes the total income that you (and your spouse/and your partner) received from all sources, before taxes and deductions, in the past 12 months?
Response Percent
$0 5
$1–$4,999 6
$5,000–$14,999 7
$15,000–$24,999 8
$25,000–$39,999 11
$40,000–$49,999 8
$50,000–$74,999 15
$75,000–$99,999 11
$100,000–$149,999 13
$150,000–$199,999 8
$200,000 or higher 6
Refused 1

Note: Number of unweighted respondents = 11,316.

Question I41. In the past 12 months, have you (and/or your spouse and/or your partner) received any of the following?
Response Percent
Earned Income Tax Credit (EITC) 9
Supplemental Nutrition Assistance Program (SNAP or food stamps) 9
Women, Infants, and Children (WIC) nutrition program benefits 2
Housing assistance from government program 3
Free or reduced price school lunches 5
Cash assistance from a welfare program, such as TANF 1

Note: Number of unweighted respondents = 11,316.

Question I9. In the past 12 months, which one of the following best describes your (and your spouse's/part-ner'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 9
Refused 1

Note: Number of unweighted respondents = 11,316.

Question I12. Because your income varies, have you (and your spouse/partner) struggled to pay your bills in the past 12 months?
Response Percent
Yes 33
No 67
Refused 0

Note: Number of unweighted respondents = 2,975.

Question I20. In the past month, would you say that your (and your spouse's/partner's) total spending was:
Response Percent
Less than your income 51
The same as your income 32
More than your income 16
Refused 1

Note: Number of unweighted respondents = 11,316.

Financial Support from Outside the Home Section

Question FS10. Does anyone living outside of your household (such as a parent, child, other relatives, or friends) provide you with regular financial support? This may include cash or help with rent, groceries, education expenses, student loans, car payments, or other expenses.
Response Percent
Yes 11
No 89
Refused 1

Note: Number of unweighted respondents = 11,316.

Question FS20. Do you receive each of the following types of financial support from people living outside of your household?
Response Percent
Help paying rent or mortgage 35
Help with education expenses or student loans 24
Help with car payment 20
Help with other bills 45
Money for general expenses or anything else 59

Note: Number of unweighted respondents = 985.

Question FS30. Who outside of your household provides you with regular financial support or helps you with bill payments?
Response Percent
Parent(s) 64
My adult child 13
Other relatives 19
Friends 9
Other 8

Note: Number of unweighted respondents = 985.

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, education expenses, student loans, car payments, or other expenses.
Response Percent
Yes 15
No 84
Refused 1

Note: Number of unweighted respondents = 11,316.

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 51
No 48
Refused 1

Note: Number of unweighted respondents = 11,316.

Question EF2. If you were to lose your main source of income (e.g., job, government benefits), could you cover your expenses for 3 months by borrowing money, using savings, selling assets, or borrowing from friends/family?
Response Percent
Yes 39
No 59
Refused 2

Note: Number of unweighted respondents = 5,339.

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? If you would use more than one method to cover this expense, please select all that apply.
Response Percent
Put it on my credit card and pay it off in full at
the next statement		 33
Put it on my credit card and pay it off over time 16
With the money currently in my checking/savings account
or with cash		 45
Using money from a bank loan or line of credit 3
By borrowing from a friend or family member 10
Using a payday loan, deposit advance, or overdraft 2
By selling something 6
I wouldn't be able to pay for the expense right now 12
Other (please specify) 0
Refused 2

Note: Number of unweighted respondents = 11,316.

Question EF5A. Which best describes your ability to pay all of your bills in full this month?
Response Percent
Able to pay all of bills 82
Can't pay some bills 17
Refused 1

Note: Number of unweighted respondents = 11,316.

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
Would still be able to pay all bills 85
Could not pay some bills 14
Refused 0

Note: Number of unweighted respondents = 9,353.

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 22
Credit card 42
Water, gas, or electric bill 33
Phone or cable bill 32
Car payment 19
Student loan 12
Other (please specify) 3

Note: Number of unweighted respondents = 1,891.

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 11
Credit card 45
Water, gas, or electric bill 23
Phone or cable bill 49
Car payment 14
Student loan 24
Other (please specify) 4

Note: Number of unweighted respondents = 1,351.

Health and Insurance Section

Question E1. During the past 12 months, was there a time when you needed any of the following, but went without because you couldn't afford it?
Response Percent
Prescription medicine 10
Seeing a doctor 12
Mental health care or counseling 6
Dental care 17
Seeing a specialist 8
Follow-up care 7

Note: Number of unweighted respondents = 11,316.

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 21
No 78
Refused 1

Note: Number of unweighted respondents = 11,316.

Question E2A. Approximately how much did you pay out of pocket for unexpected major medical expenses in the past 12 months?
Response Percent
$1–$499 23
$500–$999 22
$1,000–$4,999 39
$5,000–$9,999 9
$10,000 or higher 3
Don't know 4
Refused 0

Note: NNumber of unweighted respondents = 2,523.

Question E2B. Do you currently have any debt from the unexpected major medical expenses that you had in the past 12 months?
Response Percent
Yes 39
No 61
Refused 0

Note: Number of unweighted respondents = 2,523.

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 57
Insurance purchased directly from an insurance company 11
Medicare for people 65 or older 22
Medicaid or other programs for those with low incomes
or disability		 11
TRICARE or other military health care 3
VA or other veteran's health care 4
Insurance purchased through a health insurance exchange 4
Any other 4

Note: Number of unweighted respondents = 11,316.

Question E5. Do you personally know someone who has been addicted to opioids or prescription painkillers?
Response Percent
Yes 21
No 79
Refused 1

Note: Number of unweighted respondents = 11,316.

Childhood Background Section

Question CH1. When you were growing up (under age 17), how frequently did you worry about each of the following?
Response Percent
Never worried Rarely worried Some-
times
worried		 Regularly worried Refused
Your family's finances 42 19 25 13 1
Having enough food to eat 65 16 11 6 1
Crime and personal safety 56 24 14 5 1
Having a stable caregiver 73 13 8 4 1

Note: Number of unweighted respondents = 11,196.

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 6
Bachelor's degree 13
Graduate degree 7
Don't know 5
Refused 2

Note: Number of unweighted respondents = 11,316.

Question CH3. What is the highest level of education that your father completed?
Response Percent
Less than high school degree 20
High school degree or GED 29
Some college but no degree 9
Certificate or technical degree 5
Associate degree 4
Bachelor's degree 13
Graduate degree 9
Don't know 10
Refused 2

Note: Number of unweighted respondents = 11,316.

Financial Literacy Section

Question FL0. Some people are fully prepared to take financial risks when they save or make investments, while others try to avoid taking financial risks. On a scale from 0 to 10, where 0 is not at all willing to take risks and 10 is very willing to take risks, what number would you (and/or your spouse/partner) be on the scale?
Response Percent
0. Not at all willing to take risks 13
1 5
2 8
3 12
4 10
5 22
6 11
7 10
8 4
9 1
10. Very willing to take risks 2
Refused 1

Note: Number of unweighted respondents = 11,316.

Question FL1. Do you think the following statement is true or false? "Housing prices in the U.S. can never go down."
Response Percent
True 17
False (*correct response*) 61
Don't know 22
Refused 1

Note: Number of unweighted respondents = 11,316.

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
True 3
False (*correct response*) 47
Don't know 49
Refused 1

Note: Number of unweighted respondents = 11,316.

Question FL3. Considering a long time period (for example, 10 or 20 years), which asset described below normally gives the highest returns?
Response Percent
Stocks (*correct response*) 42
Bonds 9
Savings accounts 3
Precious metals 6
Don't know 39
Refused 1

Note: Number of unweighted respondents = 11,316.

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
More than today 5
Exactly the same 8
Less than today (*correct response*) 59
Don't know 27
Refused 1

Note: Number of unweighted respondents = 11,316.

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
More than $102 (*correct response*) 70
Exactly $102 6
Less than $102 5
Don't know 18
Refused 1

Note: Number of unweighted respondents = 11,316.

Respondent Demographics

Summary statistics for demographics
Demographic characteristic Weighted percent Unweighted percent
Gender
Male 48 49
Female 52 51
Age1
18–29 20 13
30–44 25 21
45–59 26 27
Ages 60+ 29 39
Education
Less than high school 7 4
High school degree 28 24
Some college, certificate, or technical school 22 24
Associate degree 9 10
Bachelor's degree or higher 34 38
Race and ethnicity
White, non-Hispanic 64 70
Black, non-Hispanic 12 11
Other, non-Hispanic 6 4
Hispanic 16 12
2+ races, non-Hispanic 1 3
Family income
Family income less than $40,000 37 41
Family income $40,000–$100,000 34 33
Family income greater than $100,000 28 25
Household income
Household income less than $40,000 26 38
Household income $40,000–$100,000 38 32
Household income greater than $100,000 36 30
Marital status
Married 55 54
Not married 45 46
Region
Northeast 18 19
Midwest 21 23
South 37 35
West 24 23

Note: Number of unweighted respondents = 11,316.

 1. Mean weighted age = 48. Mean unweighted age = 53. Return to table

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Last Update: June 06, 2019