SCF Combined Extract Data
| KNOWL |
|
Respondent'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 |
|
0.1 |
|
1,496,856 |
|
-1 |
|
|
|
88.5 |
|
965,348,694 |
|
0 |
|
|
|
0.1 |
|
798,755 |
|
1 |
|
|
|
0.1 |
|
1,592,388 |
|
2 |
|
|
|
0.3 |
|
2,904,378 |
|
3 |
|
|
|
0.4 |
|
4,117,979 |
|
4 |
|
|
|
1.6 |
|
16,964,979 |
|
5 |
|
|
|
1.1 |
|
12,444,799 |
|
6 |
|
|
|
2.1 |
|
22,381,156 |
|
7 |
|
|
|
2.3 |
|
25,118,300 |
|
8 |
|
|
|
1.1 |
|
12,507,338 |
|
9 |
|
|
|
2.4 |
|
25,654,774 |
|
10 |
|
|
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/244-245
|
|
|
|
| FINLIT |
|
Number of financial literacy questions answered correctly |
|
| Text of this Question or Item |
Only available for 2016 and later surveys.
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
89.0 |
|
970,915,582 |
|
0 |
|
|
|
1.9 |
|
20,627,627 |
|
1 |
|
|
|
4.2 |
|
45,675,814 |
|
2 |
|
|
|
5.0 |
|
54,111,371 |
|
3 |
|
|
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/289
|
|
|
|
| YESFINRISK |
|
Respondent willing to take financial risk |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
96.2 |
|
1,050,249,152 |
|
0 |
|
No |
|
3.8 |
|
41,081,243 |
|
1 |
|
Yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/247
|
|
|
|
| NOFINRISK |
|
Respondent not willing to take financial risk |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
55.9 |
|
610,348,695 |
|
0 |
|
No |
|
44.1 |
|
480,981,699 |
|
1 |
|
Yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/249
|
|
|
|
| CKCONNECTN |
|
Why chose main checking account institution: connection through work/school |
|
| Text of this Question or Item |
See X3530 for full codeframe
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
98.4 |
|
1,073,620,477 |
|
0 |
|
no |
|
1.6 |
|
17,709,917 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/338
|
|
|
|
| CKCONVPAYRL |
|
Why 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 |
|
99.0 |
|
1,080,266,396 |
|
0 |
|
no |
|
1.0 |
|
11,063,998 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/344
|
|
|
|
| CKLOCATION |
|
Why chose main checking account institution: location of their offices |
|
| Text of this Question or Item |
See X3530 for full codeframe
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
60.6 |
|
660,984,788 |
|
0 |
|
no |
|
39.4 |
|
430,345,606 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/328
|
|
|
|
| CKLONGTIME |
|
Why 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 |
|
98.0 |
|
1,069,438,503 |
|
0 |
|
no |
|
2.0 |
|
21,891,891 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/340
|
|
|
|
| CKLOWFEEBAL |
|
Why 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 |
|
86.9 |
|
948,666,152 |
|
0 |
|
no |
|
13.1 |
|
142,664,243 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/330
|
|
|
|
| CKMANYSVCS |
|
Why 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 |
|
84.7 |
|
924,017,283 |
|
0 |
|
no |
|
15.3 |
|
167,313,111 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/332
|
|
|
|
| CKPERSONAL |
|
Why chose main checking account institution: personal relationship |
|
| Text of this Question or Item |
See X3530 for full codeframe
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
96.3 |
|
1,051,032,892 |
|
0 |
|
no |
|
3.7 |
|
40,297,503 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/336
|
|
|
|
| CKRECOMFRND |
|
Why 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 |
|
97.1 |
|
1,059,831,181 |
|
0 |
|
no |
|
2.9 |
|
31,499,213 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/334
|
|
|
|
| CKSAFETY |
|
Why 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 |
|
97.3 |
|
1,061,873,156 |
|
0 |
|
no |
|
2.7 |
|
29,457,239 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/342
|
|
|
|
| CKOTHCHOOSE |
|
Why chose main checking account institution: other reason |
|
| Text of this Question or Item |
See X3530 for full codeframe
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
93.8 |
|
1,023,539,664 |
|
0 |
|
no |
|
6.2 |
|
67,790,730 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/346
|
|
|
|
| MINBAL |
|
Why no checking account: minimum balance is too high |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
99.1 |
|
1,081,234,776 |
|
0 |
|
no |
|
0.9 |
|
10,095,619 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/312
|
|
|
|
| CANTMANG |
|
Why no checking account: can't manage/balance a checking account |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
99.3 |
|
1,083,795,807 |
|
0 |
|
no |
|
0.7 |
|
7,534,587 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/320
|
|
|
|
| CREDIT |
|
Why no checking account: credit problems, bankruptcy, does not meet qualifications for an account |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
99.6 |
|
899,049,340 |
|
0 |
|
no |
|
0.4 |
|
3,343,334 |
|
1 |
|
yes |
|
|
|
188,937,720 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/322
|
|
|
|
| DONTLIKE |
|
Why no checking account: don't like dealing with banks |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
97.5 |
|
1,064,001,988 |
|
0 |
|
no |
|
2.5 |
|
27,328,407 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/314
|
|
|
|
| DONTWANT |
|
Why no checking account: does not want/need a checking account |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
99.3 |
|
896,338,127 |
|
0 |
|
no |
|
0.7 |
|
6,054,547 |
|
1 |
|
yes |
|
|
|
188,937,720 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/324
|
|
|
|
| DONTWRIT |
|
Why no checking account: don�t write enough checks to make it worthwhile |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
96.8 |
|
1,056,482,431 |
|
0 |
|
no |
|
3.2 |
|
34,847,964 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/310
|
|
|
|
| NOMONEY |
|
Why no checking account: don't have (enough) money |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
98.2 |
|
1,071,264,760 |
|
0 |
|
no |
|
1.8 |
|
20,065,635 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/318
|
|
|
|
| SVCCHG |
|
Why no checking account: service changes are too high |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
98.7 |
|
1,076,751,016 |
|
0 |
|
no |
|
1.3 |
|
14,579,379 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/316
|
|
|
|
| OTHER |
|
Why no checking account: other |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
99.4 |
|
1,084,526,335 |
|
0 |
|
no |
|
0.6 |
|
6,804,059 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/326
|
|
|
|
| WHYNOCKG |
|
Reason 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 |
|
0.5 |
|
5,598,672 |
|
-1 |
|
can't manage/balance a checking account |
|
88.0 |
|
960,058,843 |
|
0 |
|
Inap |
|
3.2 |
|
34,847,964 |
|
1 |
|
don't write enough checks to make it worthwhile |
|
0.9 |
|
10,095,619 |
|
2 |
|
minimum balance is too high |
|
2.5 |
|
27,328,407 |
|
3 |
|
do not like dealing with banks |
|
1.3 |
|
14,579,379 |
|
4 |
|
service charges are too high |
|
0.1 |
|
1,298,106 |
|
5 |
|
no bank has convenient hours or location |
|
0.1 |
|
813,829 |
|
12 |
|
checkbook has been/could be lost/stolen |
|
0.1 |
|
909,442 |
|
13 |
|
haven't gotten around to it |
|
0.0 |
|
418,234 |
|
14 |
|
R has alternative source of checking services (money market, savings account,etc). Does not include individuals who write checks for R |
|
0.1 |
|
590,130 |
|
15 |
|
R not allowed to have account (e.g., asset test for welfare) |
|
0.1 |
|
640,211 |
|
16 |
|
Someone else writes checks for R or manages R's finances |
|
0.6 |
|
6,564,913 |
|
20 |
|
R does not need/want a checking account (NEC) |
|
0.3 |
|
3,450,990 |
|
21 |
|
credit problems, bankruptcy, R does not meet depositorys qualifications for having an account |
|
0.1 |
|
655,032 |
|
22 |
|
Concern about overdraft fees |
|
1.8 |
|
20,065,635 |
|
95 |
|
don't have(enough) money |
|
0.2 |
|
1,935,915 |
|
96 |
|
can't manage/balance a checking account |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/307-308
|
|
|
|
| SAVRES1 |
|
Reason 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 |
|
95.0 |
|
1,036,588,315 |
|
0 |
|
no |
|
5.0 |
|
54,742,079 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/218
|
|
|
|
| SAVRES2 |
|
Reason for saving: education |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
90.6 |
|
989,229,015 |
|
0 |
|
no |
|
9.4 |
|
102,101,380 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/220
|
|
|
|
| SAVRES3 |
|
Reason for saving: family |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
95.2 |
|
1,038,839,172 |
|
0 |
|
no |
|
4.8 |
|
52,491,223 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/222
|
|
|
|
| SAVRES4 |
|
Reason for saving: home |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
95.8 |
|
1,045,777,189 |
|
0 |
|
no |
|
4.2 |
|
45,553,205 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/224
|
|
|
|
| SAVRES5 |
|
Reason for saving: purchases |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
89.6 |
|
977,630,164 |
|
0 |
|
no |
|
10.4 |
|
113,700,231 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/226
|
|
|
|
| SAVRES6 |
|
Reason for saving: retirement |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
71.0 |
|
774,687,359 |
|
0 |
|
no |
|
29.0 |
|
316,643,035 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/228
|
|
|
|
| SAVRES7 |
|
Reason for saving: liquidity/the future |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
66.8 |
|
728,495,367 |
|
0 |
|
no |
|
33.2 |
|
362,835,027 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/230
|
|
|
|
| SAVRES8 |
|
Reason for saving: investment |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
97.2 |
|
1,060,367,562 |
|
0 |
|
no |
|
2.8 |
|
30,962,832 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/232
|
|
|
|
| SAVRES9 |
|
Reason for saving: no particular reason |
|
| Text of this Question or Item |
See inserted comment for SAVRES1
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
98.9 |
|
1,079,029,013 |
|
0 |
|
no |
|
1.1 |
|
12,301,382 |
|
1 |
|
yes |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/234
|
|
|
|
| SAVED |
|
Indicator 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 |
|
44.5 |
|
444,274,711 |
|
0 |
|
Household did not save |
|
55.5 |
|
554,035,582 |
|
1 |
|
Household saved |
|
|
|
93,020,101 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2185
|
|
|
|
| WSAVED |
|
spent more/same/less than income in past year |
|
| Text of this Question or Item |
Not available for 1989.
|
|
|
Percent |
|
N |
|
Value |
|
Label |
|
15.3 |
|
152,274,649 |
|
1 |
|
spending exceeded income |
|
29.2 |
|
292,000,062 |
|
2 |
|
spending equaled income |
|
55.5 |
|
554,035,582 |
|
3 |
|
spending less than income |
|
|
|
93,020,101 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2183
|
|
|
|
| SPENDMOR |
|
R 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 |
|
7.0 |
|
56,319,549 |
|
1 |
|
agree strongly |
|
17.9 |
|
144,045,092 |
|
2 |
|
agree somewhat |
|
15.7 |
|
125,918,571 |
|
3 |
|
neither agree nor disagree |
|
29.9 |
|
240,514,518 |
|
4 |
|
disagree somewhat |
|
29.4 |
|
236,584,487 |
|
5 |
|
disagree strongly |
|
|
|
287,948,178 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2207
|
|
|
|
| SPENDLESS |
|
R 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 |
|
32.7 |
|
119,630,195 |
|
1 |
|
agree strongly |
|
28.3 |
|
103,663,128 |
|
2 |
|
agree somewhat |
|
15.3 |
|
55,945,270 |
|
3 |
|
neither agree nor disagree |
|
13.5 |
|
49,293,347 |
|
4 |
|
disagree somewhat |
|
10.3 |
|
37,589,047 |
|
5 |
|
disagree strongly |
|
|
|
725,209,407 |
|
. |
|
(No Data) |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2249
|
|
|
|
| EHCHKG |
|
people w/o checking accounts: ever had an account? |
|
|
Percent |
|
N |
|
Value |
|
Label |
|
88.0 |
|
960,058,843 |
|
0 |
|
N/A (has checking account) |
|
6.2 |
|
67,703,983 |
|
1 |
|
yes |
|
5.8 |
|
63,567,569 |
|
5 |
|
no |
|
100.0 |
|
1,091,330,394 |
|
|
|
Total |
|
| Properties |
| Data type: |
numeric |
| Record/column: |
1/305
|
|
|
|