This survey was commissioned by the national nonprofit credit counseling agency, CESI Debt Solutions in January 2011. Respondents had no affiliation with CESI and were recruited online by a third party research company.
Do you keep/maintain a regular savings plan, putting money away in a savings account frequently?
| Answer | Percentage |
| Yes | 46.50% |
| No | 41.35% |
| No answer | 12.15% |
| Not completed or not displayed | 0.00% |
If yes, how much do you save?
| Answer | Percentage |
| 1% of paycheck | 10.31% |
| 5% of paycheck | 11.29% |
| 10% of paycheck | 8.96% |
| More than 10% of paycheck | 8.22% |
| No answer | 7.73% |
| Not completed or not displayed | 53.50% |
What made you decide to start a regular savings plan?
| Answer | Percentage |
| Parents taught me to save something every paycheck, and I’ve kept it up. | 15.71% |
| I learned from experience (not my parents) to save money. | 18.04% |
| Scared and/or affected by the recession, I thought it was a good idea. | 4.91% |
| Saving for a specific reason: new car, remodeling, emergency, etc. | 5.64% |
| No answer | 2.21% |
| Not completed or not displayed | 53.50% |
When you save, what are you saving for? (Check as many as apply)
| Answer | Percentage |
| Retirement | 17.91% |
| A big purchase | 10.67% |
| A rainy day/emergency fund | 24.91% |
| College | 3.56% |
| I save a little money for each of these every paycheck | 10.06% |
| Comfort of knowing I have savings. | 21.10% |
How would you define your spending habits?
| Answer | Percent |
| Thrifty, make do without something | 20.25% |
| Careful spender: search for best deal, buy lowest cost item that will meet the need. | 50.43% |
| Buy it now on credit, pay for it later. | 5.64% |
| Only buy when I have saved enough to pay for it. | 13.25% |
| Cost isn’t an option, get the best. | 2.21% |
| No answer | 8.22% |
| Not completed or not displayed | 0.00% |
How many credit cards do you currently have?
| Answer | Percentage |
| 1 | 26.26% |
| 2 | 19.14% |
| 3 | 11.66% |
| 4 or more | 15.09% |
| No answer | 27.85% |
| Not completed or not displayed | 0.00% |
How much credit card debt do you currently owe?
| Answer | Percentage |
| None | 41.72% |
| $1-$499 | 11.04% |
| $500-$2,499 | 11.66% |
| $2,500-$4,999 | 7.73% |
| $5,000-$9,999 | 5.64% |
| $10,000-$14,999 | 4.42% |
| $15,000 or more | 5.52% |
| No answer | 12.27% |
| Not completed or not displayed | 0.00% |
How often do you currently use credit cards?
| Answer | Percentage |
| Daily | 6.13% |
| Several times per week | 15.46% |
| A few times per month | 27.61% |
| A few times per year | 20.49 |
| Never | 21.60% |
| No answer | 8.71% |
| Not completed or not displayed | 0.00% |
Do you set a regular budget and stick to it?
| Answer | Percentage |
| Yes | 50.55% |
| No | 40.98% |
| No answer | 8.47% |
| Not completed or not displayed | 0.00% |
How old are you?
| Answer | Percentage |
| Under 18 | 0.37% |
| 18-24 | 9.20% |
| 25-34 | 15.71% |
| 35-49 | 18.77% |
| 50-65 | 31.90% |
| 65+ | 18.77% |
| No answer | 4.29% |
| Not completed or not displayed | 0.98% |
What is your gender?
| Answer | Percentage |
| Female | 38.40% |
| Male | 56.56% |
| No answer | 4.05% |
| Not completed or not displayed | 0.98% |
Did your parents live through the “Great Depression” in the United States?
| Answer | Percentage |
| Yes | 50.92% |
| No | 39.51% |
| No answer | 8.59% |
| Not completed or not displayed | 0.98% |
Did your parent(s) say your family couldn’t afford something because of money issues?
| Answer | Percentage |
| Frequently | 29.33% |
| Sometimes | 44.05% |
| Rarely | 15.21% |
| Never | 3.07% |
| No answer | 7.36% |
| Not completed or not displayed | 0.98% |
Which of the following is true of your childhood? Check all that apply.
| Answer | Percentage |
| Money was tight, but we didn’t talk about it. | 57.91% |
| Money was tight, and it was talked about a lot. | 20.49% |
| Money was never an issue. | 19.02% |
Did your parents teach you about saving, investments, etc.
| Answer | Percentage |
| My parent(s) were frugal. | 20.86% |
| My parent(s) didn’t discuss money issues much. | 35.21% |
| My parent(s) taught me how to save money. | 28.71% |
| My parent(s) liked to spend money. | 2.94% |
| My parent(s) let me spend money however I wanted. | 0.74% |
| My parent(s) often bought me whatever I wanted growing up. | 2.94% |
| No answer | 7.61% |
| Not completed or not displayed | 0.98% |
Did you have an allowance growing up?
| Answer | Percentage |
| Yes | 47.12% |
| No | 46.63% |
| No answer | 5.28% |
| Not completed or not displayed | 0.98% |
Were you required to save part of that allowance?
| Answer | Percentage |
| Yes | 13.50% |
| No | 32.15% |
| No answer | 1.47% |
| Not completed or not displayed | 52.88% |
Do you agree with this statement about your childhood: When we wanted something, we got it.
| Answer | Percentage |
| Yes | 16.56% |
| No | 75.46% |
| No answer | 6.99% |
| Not completed or not displayed | 0.98% |