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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 |
6,614,212 |
-1 |
|
|
65.0 |
965,348,694 |
0 |
|
|
0.2 |
2,943,953 |
1 |
|
|
0.4 |
6,555,692 |
2 |
|
|
0.8 |
12,114,522 |
3 |
|
|
1.3 |
19,295,265 |
4 |
|
|
4.2 |
62,401,221 |
5 |
|
|
3.8 |
56,500,817 |
6 |
|
|
6.4 |
95,414,963 |
7 |
|
|
7.1 |
105,914,865 |
8 |
|
|
3.6 |
53,518,872 |
9 |
|
|
6.7 |
99,619,829 |
10 |
|
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/300-301
|
FINLITNumber of financial literacy questions answered correctly
Text of this Question or Item
Only available for 2016 and later surveys.
|
Percent |
N |
Value |
Label |
|
66.3 |
985,472,913 |
0 |
|
|
6.0 |
88,912,136 |
1 |
|
|
12.5 |
185,635,906 |
2 |
|
|
15.2 |
226,221,951 |
3 |
|
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/349
|
YESFINRISKRespondent willing to take financial risk
|
Percent |
N |
Value |
Label |
|
96.3 |
1,430,546,050 |
0 |
No |
|
3.7 |
55,696,856 |
1 |
Yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/303
|
NOFINRISKRespondent not willing to take financial risk
|
Percent |
N |
Value |
Label |
|
57.5 |
854,671,815 |
0 |
No |
|
42.5 |
631,571,091 |
1 |
Yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/305
|
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 |
1,461,092,077 |
0 |
no |
|
1.7 |
25,150,828 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/398
|
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 |
1,469,297,721 |
0 |
no |
|
1.1 |
16,945,185 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/404
|
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 |
|
60.6 |
900,485,043 |
0 |
no |
|
39.4 |
585,757,863 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/388
|
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 |
|
97.6 |
1,449,840,214 |
0 |
no |
|
2.4 |
36,402,692 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/400
|
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 |
|
87.4 |
1,298,803,593 |
0 |
no |
|
12.6 |
187,439,312 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/390
|
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 |
|
84.9 |
1,261,290,783 |
0 |
no |
|
15.1 |
224,952,123 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/392
|
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 |
1,433,442,498 |
0 |
no |
|
3.6 |
52,800,408 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/396
|
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 |
|
96.5 |
1,434,067,183 |
0 |
no |
|
3.5 |
52,175,722 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/394
|
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 |
|
96.6 |
1,436,023,474 |
0 |
no |
|
3.4 |
50,219,431 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/402
|
CKOTHCHOOSEWhy chose main checking account institution: other reason
Text of this Question or Item
See X3530 for full codeframe
|
Percent |
N |
Value |
Label |
|
93.3 |
1,386,090,262 |
0 |
no |
|
6.7 |
100,152,643 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/406
|
MINBALWhy no checking account: minimum balance is too high
|
Percent |
N |
Value |
Label |
|
99.3 |
1,475,290,412 |
0 |
no |
|
0.7 |
10,952,494 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/372
|
CANTMANGWhy no checking account: can't manage/balance a checking account
|
Percent |
N |
Value |
Label |
|
99.5 |
1,478,235,241 |
0 |
no |
|
0.5 |
8,007,665 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/380
|
CREDITWhy no checking account: credit problems, bankruptcy, does not meet qualifications for an account
|
Percent |
N |
Value |
Label |
|
99.7 |
1,293,446,877 |
0 |
no |
|
0.3 |
3,858,309 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/382
|
DONTLIKEWhy no checking account: don't like dealing with banks
|
Percent |
N |
Value |
Label |
|
97.8 |
1,453,298,962 |
0 |
no |
|
2.2 |
32,943,943 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/374
|
DONTWANTWhy no checking account: does not want/need a checking account
|
Percent |
N |
Value |
Label |
|
99.4 |
1,289,757,088 |
0 |
no |
|
0.6 |
7,548,098 |
1 |
yes |
|
|
188,937,720 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/384
|
DONTWRITWhy no checking account: don�t write enough checks to make it worthwhile
|
Percent |
N |
Value |
Label |
|
97.2 |
1,444,301,155 |
0 |
no |
|
2.8 |
41,941,751 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/370
|
NOMONEYWhy no checking account: don't have (enough) money
|
Percent |
N |
Value |
Label |
|
98.5 |
1,464,138,929 |
0 |
no |
|
1.5 |
22,103,977 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/378
|
SVCCHGWhy no checking account: service changes are too high
|
Percent |
N |
Value |
Label |
|
98.8 |
1,468,812,206 |
0 |
no |
|
1.2 |
17,430,700 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/376
|
OTHERWhy no checking account: other
|
Percent |
N |
Value |
Label |
|
99.4 |
1,477,426,555 |
0 |
no |
|
0.6 |
8,816,350 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/386
|
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 |
6,071,749 |
-1 |
can't manage/balance a checking account |
|
89.6 |
1,332,021,599 |
0 |
Inap |
|
2.8 |
41,941,751 |
1 |
don't write enough checks to make it worthwhile |
|
0.7 |
10,952,494 |
2 |
minimum balance is too high |
|
2.2 |
32,943,943 |
3 |
do not like dealing with banks |
|
1.2 |
17,430,700 |
4 |
service charges are too high |
|
0.1 |
1,727,389 |
5 |
no bank has convenient hours or location |
|
0.1 |
954,340 |
12 |
checkbook has been/could be lost/stolen |
|
0.1 |
1,346,802 |
13 |
haven't gotten around to it |
|
0.0 |
543,807 |
14 |
R has alternative source of checking services (money market, savings account,etc). Does not include individuals who write checks for R |
|
0.1 |
799,019 |
15 |
R not allowed to have account (e.g., asset test for welfare) |
|
0.1 |
936,096 |
16 |
Someone else writes checks for R or manages R's finances |
|
0.5 |
8,058,463 |
20 |
R does not need/want a checking account (NEC) |
|
0.3 |
3,965,965 |
21 |
credit problems, bankruptcy, R does not meet depositorys qualifications for having an account |
|
0.1 |
1,029,820 |
22 |
Concern about overdraft fees |
|
1.5 |
22,103,977 |
95 |
don't have(enough) money |
|
0.1 |
1,935,915 |
96 |
can't manage/balance a checking account |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/columns: |
1/367-368
|
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 |
|
95.6 |
1,420,314,313 |
0 |
no |
|
4.4 |
65,928,593 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/274
|
SAVRES2Reason for saving: education
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
92.1 |
1,369,015,201 |
0 |
no |
|
7.9 |
117,227,705 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/276
|
SAVRES3Reason for saving: family
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
94.8 |
1,409,558,896 |
0 |
no |
|
5.2 |
76,684,010 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/278
|
SAVRES4Reason for saving: home
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
95.7 |
1,422,204,421 |
0 |
no |
|
4.3 |
64,038,484 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/280
|
SAVRES5Reason for saving: purchases
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
89.4 |
1,328,083,915 |
0 |
no |
|
10.6 |
158,158,990 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/282
|
SAVRES6Reason for saving: retirement
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
71.7 |
1,065,938,641 |
0 |
no |
|
28.3 |
420,304,265 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/284
|
SAVRES7Reason for saving: liquidity/the future
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
64.4 |
956,900,530 |
0 |
no |
|
35.6 |
529,342,376 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/286
|
SAVRES8Reason for saving: investment
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
97.4 |
1,448,283,691 |
0 |
no |
|
2.6 |
37,959,214 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/288
|
SAVRES9Reason for saving: no particular reason
Text of this Question or Item
See inserted comment for SAVRES1
|
Percent |
N |
Value |
Label |
|
98.9 |
1,469,643,637 |
0 |
no |
|
1.1 |
16,599,269 |
1 |
yes |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/290
|
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 |
|
44.3 |
617,547,549 |
0 |
Household did not save |
|
55.7 |
775,675,255 |
1 |
Household saved |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2288
|
WSAVEDspent more/same/less than income in past year
Text of this Question or Item
Not available for 1989.
|
Percent |
N |
Value |
Label |
|
15.5 |
216,003,053 |
1 |
spending exceeded income |
|
28.8 |
401,544,495 |
2 |
spending equaled income |
|
55.7 |
775,675,255 |
3 |
spending less than income |
|
|
93,020,101 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2286
|
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 |
|
7.3 |
87,960,327 |
1 |
agree strongly |
|
17.7 |
212,548,323 |
2 |
agree somewhat |
|
15.2 |
181,555,115 |
3 |
neither agree nor disagree |
|
29.6 |
354,353,665 |
4 |
disagree somewhat |
|
30.2 |
361,877,297 |
5 |
disagree strongly |
|
|
287,948,178 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2310
|
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 |
|
31.6 |
240,651,089 |
1 |
agree strongly |
|
28.2 |
214,344,743 |
2 |
agree somewhat |
|
15.0 |
114,180,342 |
3 |
neither agree nor disagree |
|
14.1 |
107,521,147 |
4 |
disagree somewhat |
|
11.1 |
84,336,178 |
5 |
disagree strongly |
|
|
725,209,407 |
. |
(No Data) |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/2352
|
EHCHKGpeople w/o checking accounts: ever had an account?
|
Percent |
N |
Value |
Label |
|
89.6 |
1,332,021,599 |
0 |
N/A (has checking account) |
|
5.4 |
80,010,227 |
1 |
yes |
|
5.0 |
74,211,079 |
5 |
no |
|
100.0 |
1,486,242,906 |
|
Total |
| Properties |
| Data type: |
numeric |
| Record/column: |
1/365
|
MPSPENDPercent of income windfall would spend
Text of this Question or Item
Only available for 2025 and later surveys.
Total Cases:
1,486,242,906 (Range of valid codes: 0.00-100.00)
| Properties |
| Data type: |
numeric |
| Decimals: |
2 |
| Record/columns: |
1/129-133
|
MPSAVEPercent of income windfall would save
Text of this Question or Item
Only available for 2025 and later surveys.
Total Cases:
1,486,242,906 (Range of valid codes: 0.00-100.00)
| Properties |
| Data type: |
numeric |
| Decimals: |
2 |
| Record/columns: |
1/135-139
|
MPDEBTPercent of income windfall would use to pay down debt
Text of this Question or Item
Only available for 2025 and later surveys.
Total Cases:
1,486,242,906 (Range of valid codes: 0.00-100.00)
| Properties |
| Data type: |
numeric |
| Decimals: |
2 |
| Record/columns: |
1/141-145
|
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