Questionnaire Public Report

04/09/2019 03:31:00 PM

Cohort:

National Longitudinal Survey of Youth 1979

Round:

NLSY79 Round 28

Instrument :

R28 Youth Main Field

  1. Financial Literacy

 

FIN_LIT_LINT

Section: Financial Literacy

[last round R completed]>=25

If Answer = 1 Then Go To LIFE-SATISFACTION

Default Next:

FIN_LIT_1

Lead-In:

FORECLOSURE_LINT [Default], FORECLOSURE-9 [Default], FORECLOSURE-10 [Default], FORECLOSURE-12 [Default], FORECLOSURE-13 [Default]


 

FIN_LIT_1

Section: Financial Literacy

Have you set aside emergency or rainy day funds that would cover your expenses for 3 months, in case of sickness, job loss, economic downturn, or other emergencies?

 

1   YES

 

0   NO

 

Default Next:

FIN_LIT_2

Lead-In:

FIN_LIT_LINT [Default]


 

FIN_LIT_2

Section: Financial Literacy

How strongly do you agree or disagree with the following statements? Please give your answer on a scale of 1 to 7, where 1 means 'strongly disagree' 7 means 'strongly agree,' and 4 means 'neither agree nor disagree.'

 

- I am good at dealing with day-to-day financial matters, such as checking accounts, credit and debit cards, and tracking expenses

 

- I regularly keep up with economic and financial news

 

 

1   1 (disagree strongly)

 

2   2

 

3   3

 

4   4

 

5   5

 

6   6

 

7   7 (agree strongly)

 

Default Next:

FIN_LIT_3

Lead-In:

FIN_LIT_1 [Default]


 

FIN_LIT_3

Section: Financial Literacy

On a scale from 1 to 7, where 1 means very low and 7 means very high, how would you assess your overall financial knowledge?

 

1   1

 

2   2

 

3   3

 

4   4

 

5   5

 

6   6

 

7   7

 

Default Next:

FIN_LIT_4

Lead-In:

FIN_LIT_2 [Default]


 

FIN_LIT_4

Section: Financial Literacy

Do you think that the following statement is true or false? Buying a single company stock usually provides a safer return than a stock mutual fund.

 

1   True

 

0   False

 

Default Next:

FIN_LIT_5

Lead-In:

FIN_LIT_3 [Default]


 

FIN_LIT_5

Section: Financial Literacy

Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After 5 years, how much do you think you would have in the account if you left the money to grow: more than $102, exactly $102, or less than $102?

 

1   More than $102

 

2   Exactly $102

 

3   Less than $102

 

Default Next:

FIN_LIT_6

Lead-In:

FIN_LIT_4 [Default]


 

FIN_LIT_6

Section: Financial Literacy

Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, would you be able to buy more than, exactly the same as, or less than today with the money in this account?

 

1   More than today

 

2   Exactly the same as today

 

3   Less than today

 

Default Next:

FIN_LIT_7

Lead-In:

FIN_LIT_5 [Default]


 

FIN_LIT_7

Section: Financial Literacy

If interest rates rise, what will typically happen to bond prices?

 

1   They will rise

 

2   They will fall

 

3   They will stay the same

 

4   There is no relationship between bond prices and the interest rate

 

Default Next:

FIN_LIT_8

Lead-In:

FIN_LIT_6 [Default]


 

FIN_LIT_8

Section: Financial Literacy

Do you think that the following statement is true or false? A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage, but the total interest paid over the life of the loan will be less.

 

1   True

 

0   False

 

Default Next:

LIFE-SATISFACTION

Lead-In:

FIN_LIT_7 [Default]