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Full Debt DNA Survey Results

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?

AnswerPercentage
Yes46.50%
No41.35%
No answer12.15%
Not completed or not displayed0.00%

If yes, how much do you save?

AnswerPercentage
1% of paycheck10.31%
5% of paycheck11.29%
10% of paycheck8.96%
More than 10% of paycheck8.22%
No answer7.73%
Not completed or not displayed53.50%

What made you decide to start a regular savings plan?

AnswerPercentage
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 answer2.21%
Not completed or not displayed53.50%

When you save, what are you saving for? (Check as many as apply)

AnswerPercentage
Retirement17.91%
A big purchase10.67%
A rainy day/emergency fund24.91%
College3.56%
I save a little money for each of these every paycheck10.06%
Comfort of knowing I have savings.21.10%

How would you define your spending habits?

AnswerPercent
Thrifty, make do without something20.25%
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 answer8.22%
Not completed or not displayed0.00%

How many credit cards do you currently have?

AnswerPercentage
126.26%
219.14%
311.66%
4 or more15.09%
No answer27.85%
Not completed or not displayed0.00%

How much credit card debt do you currently owe?

AnswerPercentage
None41.72%
$1-$49911.04%
$500-$2,49911.66%
$2,500-$4,9997.73%
$5,000-$9,9995.64%
$10,000-$14,9994.42%
$15,000 or more5.52%
No answer12.27%
Not completed or not displayed0.00%

How often do you currently use credit cards?

AnswerPercentage
Daily6.13%
Several times per week15.46%
A few times per month27.61%
A few times per year20.49
Never21.60%
No answer8.71%
Not completed or not displayed0.00%

Do you set a regular budget and stick to it?

AnswerPercentage
Yes50.55%
No40.98%
No answer8.47%
Not completed or not displayed0.00%

How old are you?

AnswerPercentage
Under 180.37%
18-249.20%
25-3415.71%
35-4918.77%
50-6531.90%
65+18.77%
No answer4.29%
Not completed or not displayed0.98%

What is your gender?

AnswerPercentage
Female38.40%
Male56.56%
No answer4.05%
Not completed or not displayed0.98%

Did your parents live through the “Great Depression” in the United States?

AnswerPercentage
Yes50.92%
No39.51%
No answer8.59%
Not completed or not displayed0.98%

Did your parent(s) say your family couldn’t afford something because of money issues?

AnswerPercentage
Frequently29.33%
Sometimes44.05%
Rarely15.21%
Never3.07%
No answer7.36%
Not completed or not displayed0.98%

Which of the following is true of your childhood? Check all that apply.

AnswerPercentage
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.

AnswerPercentage
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 answer7.61%
Not completed or not displayed0.98%

Did you have an allowance growing up?

AnswerPercentage
Yes47.12%
No46.63%
No answer5.28%
Not completed or not displayed0.98%

Were you required to save part of that allowance?

AnswerPercentage
Yes13.50%
No32.15%
No answer1.47%
Not completed or not displayed52.88%

Do you agree with this statement about your childhood: When we wanted something, we got it.

AnswerPercentage
Yes16.56%
No75.46%
No answer6.99%
Not completed or not displayed0.98%

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1 Response to Full Debt DNA Survey Results

  1. […] can view the full survey results here. Posted in News and […]

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