and Decisionmaking Jeff Larrimore Consumer & Community - - PowerPoint PPT Presentation
SHED Survey of Household Economics and Decisionmaking Jeff Larrimore Consumer & Community Development Research Division of Consumer & Community Affairs The analysis and conclusions set forth in this presentation are our own do not
Jeff Larrimore Consumer & Community Development Research Division of Consumer & Community Affairs
The analysis and conclusions set forth in this presentation are our own do not indicate concurrence of the Federal Reserve Board, the Federal Reserve Banks, or their staff.
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relate to household finances and the broader economy
among low- and moderate-income populations
be other reliable data sources Findings and data released on May 19 in the Report on the Economic Well-Being of U.S. Households in 2016
INTRODUCTION
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Housing and Living Arrangements
Education and Human Capital
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Student Loans
Retirement
SECTION SECTION SECTION SECTION
Economic Well-Being
Employment
Income and Savings
Economic Preparedness and Emergency Savings
SECTION
Banking and Credit
SECTION SECTION SECTION SECTION INTRODUCTION
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OVERALL WELL-BEING
Which one of the following best describes how well you are managing financially these days? Doing
Living comfortably
Asked of all respondents. n = 6,610 in 2016
62% 65% 69% 70% 29% 28% 25% 25% 40% 41% 40% 38%
0% 10% 20% 30% 40% 50% 60% 70% 80%
2016 2015 2014 2013
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OVERALL WELL-BEING
Asked of all respondents. n = 6,610 in 2016
Do you expect to be able to pay all
full? How would a $400 emergency expense that you had to pay impact your ability to pay your
76% 23%
0% 20% 40% 60% 80%
Current situation
63% 35%
0% 20% 40% 60% 80%
With a $400 emergency expense
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TOP TAKEAWAYS
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Percent of young adults (under age 40) saying that they sometimes or regularly worried about each of the following when they were growing up
EMPLOYMENT AND INCOME
Among young adults under age 40. n = 1,699 in 2016
44% 28% 27% 20% 33% 16% 16% 12% 27% 8% 11% 7%
0% 10% 20% 30% 40% 50%
Family's finances Having enough food to eat Crime / personal safety Having a stable caregiver Both parents HS degree or less At least 1 with some college At least 1 with Bachelor's degree
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Among respondents who completed at least an Associate Degree. n = 2,825
Among respondents with at least an associate degree Overall how would you say the lifetime financial benefits of your education compare to the financial costs?
EDUCATION DECISIONS
Benefits higher About equal Costs higher
48% 51% 52% 63% 65% 70% 72% 24% 32% 25% 25% 19% 18% 15% 26% 17% 23% 11% 15% 11% 13%
0% 20% 40% 60% 80% 100%
All Other Vocational Social Sciences & Humanities Health Education Business STEM
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Among respondents who attended college and report the institution attended. n = 3,929
Overall how would you say the lifetime financial benefits of your education compare to the financial costs?
EDUCATION DECISIONS
Benefits higher About equal Costs higher
40% 65% 65% 34% 41% 36% 21% 19% 21% 29% 32% 37% 39% 16% 14% 35% 26% 25%
0% 20% 40% 60% 80% 100%
Completed degree, private for-profit Completed degree, private not-for-profit Completed degree, public No degree, private for-profit No degree, private not-for-profit No degree, public