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SCF Combined Extract Data
ATTITUDINAL
KNOWLRespondent's knowledge of personal finances
Text of this Question or Item
-1 is not at all knowledgeable. 10 is very knowledgeale.
Only available for 2016 and later surveys.
|
Percent |
N |
Value |
Label |
|
0.4 |
4,876,953 |
-1 |
|
|
71.4 |
965,348,694 |
0 |
|
|
0.2 |
2,295,475 |
1 |
|
|
0.3 |
4,718,516 |
2 |
|
|
0.7 |
9,228,712 |
3 |
|
|
1.1 |
14,256,700 |
4 |
|
|
3.6 |
48,218,044 |
5 |
|
|
3.1 |
41,968,380 |
6 |
|
|
5.2 |
70,885,088 |
7 |
|
|
5.7 |
77,430,111 |
8 |
|
|
2.8 |
38,450,869 |
9 |
|
|
5.4 |
73,601,672 |
10 |
|
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/260-261
|
FINLITNumber of financial literacy questions answered correctly
Text of this Question or Item
Only available for 2016 and later surveys.
|
Percent |
N |
Value |
Label |
|
72.5 |
979,813,147 |
0 |
|
|
4.8 |
65,043,159 |
1 |
|
|
10.3 |
138,655,180 |
2 |
|
|
12.4 |
167,767,730 |
3 |
|
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/309
|
YESFINRISKRespondent willing to take financial risk
|
Percent |
N |
Value |
Label |
|
96.2 |
1,300,063,458 |
0 |
No |
|
3.8 |
51,215,757 |
1 |
Yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/263
|
NOFINRISKRespondent not willing to take financial risk
|
Percent |
N |
Value |
Label |
|
57.0 |
770,558,466 |
0 |
No |
|
43.0 |
580,720,749 |
1 |
Yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/265
|
CKCONNECTNWhy chose main checking account institution: connection through work/school
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
98.3 |
1,328,109,895 |
0 |
no |
|
1.7 |
23,169,320 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/358
|
CKCONVPAYRLWhy chose main checking account institution: other convenience, payroll deduction/direct deposit
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
98.9 |
1,336,940,315 |
0 |
no |
|
1.1 |
14,338,900 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/364
|
CKLOCATIONWhy chose main checking account institution: location of their offices
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
60.4 |
816,751,518 |
0 |
no |
|
39.6 |
534,527,697 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/348
|
CKLONGTIMEWhy chose main checking account institution: always done business there, banked there a long time
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
97.7 |
1,320,180,415 |
0 |
no |
|
2.3 |
31,098,800 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/360
|
CKLOWFEEBALWhy chose main checking account institution: had the lowest fees/minimum balance requirement
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
87.3 |
1,179,403,530 |
0 |
no |
|
12.7 |
171,875,685 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/350
|
CKMANYSVCSWhy chose main checking account institution: able to obtain many services at one place
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
84.8 |
1,146,130,062 |
0 |
no |
|
15.2 |
205,149,152 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/352
|
CKPERSONALWhy chose main checking account institution: personal relationship
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
96.4 |
1,302,753,726 |
0 |
no |
|
3.6 |
48,525,489 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/356
|
CKRECOMFRNDWhy chose main checking account institution: recommended, friend/family has account there
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
96.7 |
1,306,100,778 |
0 |
no |
|
3.3 |
45,178,437 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/354
|
CKSAFETYWhy chose main checking account institution: offered safety and absence of risk
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
96.9 |
1,309,300,593 |
0 |
no |
|
3.1 |
41,978,622 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/362
|
CKOTHCHOOSEWhy chose main checking account institution: other reason
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
93.5 |
1,263,132,955 |
0 |
no |
|
6.5 |
88,146,260 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/366
|
MINBALWhy no checking account: minimum balance is too high
|
Percent |
N |
Value |
Label |
|
99.2 |
1,340,499,765 |
0 |
no |
|
0.8 |
10,779,450 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/332
|
CANTMANGWhy no checking account: can't manage/balance a checking account
|
Percent |
N |
Value |
Label |
|
99.4 |
1,343,456,054 |
0 |
no |
|
0.6 |
7,823,160 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/340
|
CREDITWhy no checking account: credit problems, bankruptcy, does not meet qualifications for an account
|
Percent |
N |
Value |
Label |
|
99.7 |
1,158,639,934 |
0 |
no |
|
0.3 |
3,701,561 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/342
|
DONTLIKEWhy no checking account: don't like dealing with banks
|
Percent |
N |
Value |
Label |
|
97.7 |
1,320,113,300 |
0 |
no |
|
2.3 |
31,165,914 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/334
|
DONTWANTWhy no checking account: does not want/need a checking account
|
Percent |
N |
Value |
Label |
|
99.4 |
1,155,170,853 |
0 |
no |
|
0.6 |
7,170,642 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/344
|
DONTWRITWhy no checking account: don�t write enough checks to make it worthwhile
|
Percent |
N |
Value |
Label |
|
97.0 |
1,311,395,772 |
0 |
no |
|
3.0 |
39,883,443 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/330
|
NOMONEYWhy no checking account: don't have (enough) money
|
Percent |
N |
Value |
Label |
|
98.4 |
1,329,909,068 |
0 |
no |
|
1.6 |
21,370,147 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/338
|
SVCCHGWhy no checking account: service changes are too high
|
Percent |
N |
Value |
Label |
|
98.8 |
1,334,520,373 |
0 |
no |
|
1.2 |
16,758,842 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/336
|
OTHERWhy no checking account: other
|
Percent |
N |
Value |
Label |
|
99.4 |
1,343,284,934 |
0 |
no |
|
0.6 |
7,994,281 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/346
|
WHYNOCKGReason household does not have a checking account
Text of this Question or Item
0=Inap
1=don't write enough checks to make it worthwhile
2=minimum balance is too high
3=do not like dealing with banks
4=service charges are too high
5=no bank has convenient hours or location
12=checkbook has been/could be lost/stolen
13=haven't gotten around to it
14=R has alternative source of checking services (money market, savings account,etc).
Does not include individuals who write checks for R
15=R not allowed to have account (e.g., asset test for welfare)
16=Someone else writes checks for R or manages R's finances
20=R does not need/want a checking account (NEC)
21=credit problems, bankruptcy, R does not meet
depositorys qualifications for having an account
22=Concern about overdraft fees
95=don't have(enough) money
-1=can't manage/balance a checking account
-7=other
NOTE: codeframe varies over the survey years, so beware of constructing overly specific comparisons of the distribution of
households over these categories over time.
|
Percent |
N |
Value |
Label |
|
0.1 |
1,479,076 |
-7 |
other |
|
0.4 |
5,887,245 |
-1 |
can't manage/balance a checking account |
|
89.1 |
1,204,013,753 |
0 |
Inap |
|
3.0 |
39,883,443 |
1 |
don't write enough checks to make it worthwhile |
|
0.8 |
10,779,450 |
2 |
minimum balance is too high |
|
2.3 |
31,165,914 |
3 |
do not like dealing with banks |
|
1.2 |
16,758,842 |
4 |
service charges are too high |
|
0.1 |
1,590,661 |
5 |
no bank has convenient hours or location |
|
0.1 |
954,340 |
12 |
checkbook has been/could be lost/stolen |
|
0.1 |
995,341 |
13 |
haven't gotten around to it |
|
0.0 |
491,860 |
14 |
R has alternative source of checking services (money market, savings account,etc). Does not include individuals who write checks for R |
|
0.1 |
713,405 |
15 |
R not allowed to have account (e.g., asset test for welfare) |
|
0.1 |
859,417 |
16 |
Someone else writes checks for R or manages R's finances |
|
0.6 |
7,681,007 |
20 |
R does not need/want a checking account (NEC) |
|
0.3 |
3,809,217 |
21 |
credit problems, bankruptcy, R does not meet depositorys qualifications for having an account |
|
0.1 |
910,180 |
22 |
Concern about overdraft fees |
|
1.6 |
21,370,147 |
95 |
don't have(enough) money |
|
0.1 |
1,935,915 |
96 |
can't manage/balance a checking account |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/327-328
|
SAVRES1Reason for saving: can't save
Text of this Question or Item
1. can't save
2. education
3. family
4. home
5. purchases
6.retirement
7.liquidity/the future
8. investment,
9. no particular reason
multiple saving reasons may be reported: here choosing only first (most important) reason.
|
Percent |
N |
Value |
Label |
|
95.4 |
1,288,882,717 |
0 |
no |
|
4.6 |
62,396,498 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/234
|
SAVRES2Reason for saving: education
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
91.6 |
1,238,276,377 |
0 |
no |
|
8.4 |
113,002,838 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/236
|
SAVRES3Reason for saving: family
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
95.0 |
1,283,454,744 |
0 |
no |
|
5.0 |
67,824,471 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/238
|
SAVRES4Reason for saving: home
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
95.7 |
1,292,844,527 |
0 |
no |
|
4.3 |
58,434,687 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/240
|
SAVRES5Reason for saving: purchases
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
89.5 |
1,209,018,182 |
0 |
no |
|
10.5 |
142,261,033 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/242
|
SAVRES6Reason for saving: retirement
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
71.3 |
963,106,151 |
0 |
no |
|
28.7 |
388,173,063 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/244
|
SAVRES7Reason for saving: liquidity/the future
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
65.3 |
882,464,272 |
0 |
no |
|
34.7 |
468,814,942 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/246
|
SAVRES8Reason for saving: investment
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
97.4 |
1,316,178,504 |
0 |
no |
|
2.6 |
35,100,711 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/248
|
SAVRES9Reason for saving: no particular reason
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
98.9 |
1,336,008,243 |
0 |
no |
|
1.1 |
15,270,972 |
1 |
yes |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/250
|
SAVEDIndicator of whether the household saved over the past 12 months
Text of this Question or Item
1 = Household saved
0 = Household did not save
Not available for 1989
|
Percent |
N |
Value |
Label |
|
44.1 |
554,653,798 |
0 |
Household did not save |
|
55.9 |
703,605,315 |
1 |
Household saved |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2244
|
WSAVEDspent more/same/less than income in past year
Text of this Question or Item
Not available for 1989.
|
Percent |
N |
Value |
Label |
|
15.1 |
190,503,166 |
1 |
spending exceeded income |
|
28.9 |
364,150,632 |
2 |
spending equaled income |
|
55.9 |
703,605,315 |
3 |
spending less than income |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2242
|
SPENDMORR would spend more if assets appreciated in value
Text of this Question or Item
Not available for 1989, 1992, and 1995.
|
Percent |
N |
Value |
Label |
|
7.1 |
75,449,283 |
1 |
agree strongly |
|
17.6 |
186,816,333 |
2 |
agree somewhat |
|
15.4 |
163,461,504 |
3 |
neither agree nor disagree |
|
29.6 |
314,716,041 |
4 |
disagree somewhat |
|
30.4 |
322,887,875 |
5 |
disagree strongly |
|
|
287,948,178 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2266
|
SPENDLESSR would spend less if assets depreciated in value
Text of this Question or Item
Not available for 1989, 1992, 1995, 1998, 2001, 2004, and 2007.
|
Percent |
N |
Value |
Label |
|
31.8 |
199,063,886 |
1 |
agree strongly |
|
27.7 |
173,110,144 |
2 |
agree somewhat |
|
15.4 |
96,342,775 |
3 |
neither agree nor disagree |
|
14.1 |
88,073,477 |
4 |
disagree somewhat |
|
11.1 |
69,479,526 |
5 |
disagree strongly |
|
|
725,209,407 |
. |
(No Data) |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2308
|
EHCHKGpeople w/o checking accounts: ever had an account?
|
Percent |
N |
Value |
Label |
|
89.1 |
1,204,013,753 |
0 |
N/A (has checking account) |
|
5.7 |
76,659,093 |
1 |
yes |
|
5.2 |
70,606,369 |
5 |
no |
|
100.0 |
1,351,279,215 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/325
|
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