business and personal finance survey

1

Business and Personal Business and Personal Finance SurveyFinance Survey

Managing Director – Brandon Tilus

Executive Director – Mike Rich

2

FundingFunding

This study is the product of a Federal Congressional This study is the product of a Federal Congressional Earmark Grant funded through SWIF and written by Earmark Grant funded through SWIF and written by

SW/WC service co-op.SW/WC service co-op.

3

DemographicsDemographics

0%

20%

40%

60%

80%

100%

Percentage

Other12th9th6th

GradesGrades

Variance: .764Variance: .764

N: 3633N: 3633

125125

1046104612331233 12291229

4


0%

20%

40%

60%

80%

100%

Male Female

Overall12th9th6th

GenderGender

Variance:.250Variance:.250N: 3645N: 3645

5


10

12

14

16

18

20

Average Age

Overall12th9th6th

Age (average)Age (average)

Variance:6.015Variance:6.015N: 3605N: 3605Mean: 14.25Mean: 14.25

6


0%

20%

40%

60%

80%

100%

None 1 Class 2 Classes 3 Classes 4 or More

Overall12th9th6th

How many business classes have you taken since you have been in school? How many business classes have you taken since you have been in school? (Check one)(Check one)

Variance:.969Variance:.969N: 3544N: 3544Mean:1.63Mean:1.63

7


0%

20%

40%

60%

80%

100%

4th 5th 6th 7th 8th 9th 10th 11th 12th

Overall12th9th6th

In what grade(s) did you take a In what grade(s) did you take a business classbusiness class? ? (Check all that apply)(Check all that apply)

N: 1321N: 1321

8


0%

20%

40%

60%

80%

100%

Overall12th9th6th

In what grade(s) did you take a In what grade(s) did you take a Junior Achievement classJunior Achievement class? ? (Check all that apply)(Check all that apply)

N: 3321N: 3321

9


0%

20%

40%

60%

80%

100%

BothParents

Father Mother Reletive FosterHome

Adopted Other Alone

Overall12th9th6th

Who do you currently live with? Who do you currently live with? (Check one)(Check one)

Variance:.961Variance:.961N: 3586N: 3586

10


0%

20%

40%

60%

80%

100%

Overall12th9th6th

What does one of your parents (or guardians) with whom you live, do for a livingWhat does one of your parents (or guardians) with whom you live, do for a living(or where does he or she work)? (or where does he or she work)?

(Please write your answer)(Please write your answer)

Variance:11.940Variance:11.940N: 3495N: 3495

11


0%

20%

40%

60%

80%

100%

Overall12th9th6th

If it applies, what does your other parent (or guardian) with whom you live, do for If it applies, what does your other parent (or guardian) with whom you live, do for a living (or where does he or she work)? a living (or where does he or she work)?

(Please write your answer)(Please write your answer)

Variance: 12.249Variance: 12.249N: 2974N: 2974

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Financial DemographicsFinancial Demographics

0%

20%

40%

60%

80%

100%

Parents/Family J ob/Work Holidays Birthdays Other

Overall12th9th6th

Where do you Where do you get mostget most of your money? (Check one) of your money? (Check one)


13


0%

20%

40%

60%

80%

100%

Car Clothes Food Games Sports Save Other

Overall12th9th6th

On what do you On what do you spend mostspend most of your money? (Check one) of your money? (Check one)


14


0%

20%

40%

60%

80%

100%

None < 1/2 1/2 > 1/2 All

Overall12th9th6th

How much of your money do you save? (Check one)How much of your money do you save? (Check one)

Variance: 1.082Variance: 1.082N: 3673N: 3673Mean: 3.08Mean: 3.08

15


0%

20%

40%

60%

80%

100%

Home Parents Bank Other

Overall12th9th6th

Where do you save your money? (Check all that apply)Where do you save your money? (Check all that apply)

N: 3662N: 3662

16


0%

20%

40%

60%

80%

100%

Yes

Overall12th9th6th

Do you have a checking account? (Check one)Do you have a checking account? (Check one)


N: 3651N: 3651

Mean: .37Mean: .37

13371337

653653

287287322322

17


0%

20%

40%

60%

80%

100%

Parents Yours Other

Overall12th9th6th

Whose money is put into your checking account? (Check all that apply)Whose money is put into your checking account? (Check all that apply)

N: 1327N: 1327

18


0%

20%

40%

60%

80%

100%

Yes

Overall12th9th6th

Do you carry a credit card? (Check one)Do you carry a credit card? (Check one)


N: 3592N: 3592

Mean:.08Mean:.08

280280

196196

3636 2929

19


0%

20%

40%

60%

80%

100%

Yes

Overall12th9th6th

Do you use it to buy things? (Check one)Do you use it to buy things? (Check one)

Variance:.169Variance:.169N: 279N: 279Mean: .78Mean: .78

20


0%

20%

40%

60%

80%

100%

Parents Yours Other

Overall12th9th6th

Whose money is used to pay your credit card bills? (Check all that apply)Whose money is used to pay your credit card bills? (Check all that apply)

N: 278N: 278

21


0%

10%

20%

30%

40%

50%

12th9th

Write the amount you would spend on the following things.Write the amount you would spend on the following things.(The total should equal$10,000)(The total should equal$10,000)

N:1941N:1941

22


0%

10%

20%

30%

40%

50%

6th

Write the amount you would spend on the following things.Write the amount you would spend on the following things.(The total should equal$1,000)(The total should equal$1,000)

N: 1020N: 1020

23

PerceptionsPerceptions

Business Computer History Math Personal Reading Science Writing

Overall12th9th6th

Please check the box that indicates how well you understand or can work with thePlease check the box that indicates how well you understand or can work with thefollowing subjects: (Check one answer for each subject)following subjects: (Check one answer for each subject)

VeryVeryWellWell

WellWell

KnowKnowA LittleA Little

PoorPoor

VeryVeryPoorPoor

FinanceFinanceFinanceFinance

24


Income Expenses Net Worth Budget

Overall12th9th6th

Please indicate your level of agreement with the following statements:Please indicate your level of agreement with the following statements:I know what _______is/are. (Check one answer for each statement)I know what _______is/are. (Check one answer for each statement)

StronglyStronglyAgreeAgree

AgreeAgree

SlightlySlightlyAgreeAgree

SlightlySlightlyDisagreeDisagree

StronglyStronglyDisagreeDisagree

DisagreeDisagree

When thinking about Personal Finance…

25


Liabilities Assets Profit Revenue

Overall12th9th6th

Please indicate your level of agreement with the following statements:Please indicate your level of agreement with the following statements:I know what _______is/are. (Check one answer for each statement)I know what _______is/are. (Check one answer for each statement)

StronglyStronglyAgreeAgree

AgreeAgree

SlightlySlightlyAgreeAgree

SlightlySlightlyDisagreeDisagree

StronglyStronglyDisagreeDisagree

DisagreeDisagree

When thinking about Business Finance…

26


0%

20%

40%

60%

80%

100%

Not at allConfident

NotConfident

Somewhat Confident VeryConfident

Overall12th9th6th

How confident are you about the answers you gave to the previous questions?How confident are you about the answers you gave to the previous questions?(Circle One)(Circle One)


N: 3643N: 3643

Mean: 3.69Mean: 3.69

27

Personal Finance QuestionsPersonal Finance Questions

0%

20%

40%

60%

80%

100%

The amount ofmoney you loan

to friends

The process ofplanning whereand how muchmoney you willspend before

you get it

All the moneyyou make minus

the expensesyou had inmaking that

money

The amount ofmoney you

receive from allsources

I don't know

Overall12th9th6th

What does it mean to “budget” your money? (Check one)What does it mean to “budget” your money? (Check one)

Variance: 1.306Variance: 1.306

N: 3606N: 3606

Strongly Strongly DisagreeDisagree

Strongly Strongly AgreeAgree

I know how to make a I know how to make a budget.budget.

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Personal Finance Correct Personal Finance Correct ResponsesResponses

What does it mean to “budget” your money? (Check one)What does it mean to “budget” your money? (Check one)

0%

20%

40%

60%

80%

100%

Schools

29


0%

20%

40%

60%

80%

100%

The amount ofmoney you have

in the bank

The amount ofmoney your

employer owesyou but hasn'tyet paid you



money


receive from allsources

I don't know

Overall12th9th6th

What is your “income?” (Check one)What is your “income?” (Check one)


N:3665N:3665



I know what I know what incomeincome is. is.

30


What is your “income?” (Check one)What is your “income?” (Check one)

0%

20%

40%

60%

80%

100%

Schools

31


0%

20%

40%

60%

80%

100%

The amount ofassets you have

minus yourliabilities

The money thatyou receive

from anemployer or

your parents asan allowance



money


expect to makein the coming

year

I don't know

Overall12th9th6th

What is your personal “net worth?” (Check one)What is your personal “net worth?” (Check one)

Variance: 2.450Variance: 2.450N:3664N:3664



I know what I know what net worthnet worth is. is.

32


What is your personal “net worth?” (Check one)What is your personal “net worth?” (Check one)

0%

20%

40%

60%

80%

100%

Schools

33

Business Finance QuestionsBusiness Finance Questions

0%

20%

40%

60%

80%

100%

The retail pricecharged to a

customer for aproduct

The money thatcomes into abusiness from

the sale ofproducts or

services

All the money abusiness makesminus expenses

The amount ofmoney a

business pays tothe government

each year

I don't know

Overall12th9th6th

What is “revenue?” (Check one)What is “revenue?” (Check one)


N: 3655N: 3655



I know what I know what revenuerevenue is. is.

34

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Schools


What is “revenue?” (Check one)What is “revenue?” (Check one)

35


0%

20%

40%

60%

80%

100%

The amount ofcash a business

has on hand

The money thatcomes into abusiness from

the sale ofproducts or

services

All the money abusiness makesminus expenses

The amount ofmoney a

business pays tothe government

each year

I don't know

Overall12th9th6th

How would you define “profit?” (Check one)How would you define “profit?” (Check one)


N: 3663N: 3663



I know what I know what profitprofit is. is.

36


How would you define “profit?” (Check one)How would you define “profit?” (Check one)

0%

20%

40%

60%

80%

100%

Schools

37


0%

20%

40%

60%

80%

100%

Supplies Materials Payroll Rent Inventory Cash Land I don'tknow

Overall12th9th6th

Which of the following do you think are considered “assets?” (Check all that apply)Which of the following do you think are considered “assets?” (Check all that apply)

N: 3653N: 3653



I know what I know what assetsassets are. are.

38

0%

20%

40%

60%

80%

100%

Schools

Business Finance Correct Business Finance Correct Overall ResponsesOverall Responses

Which of the following do you think are considered “assets?” (Check all that apply)Which of the following do you think are considered “assets?” (Check all that apply)

39


0%

20%

40%

60%

80%

100%

Supplies Materials Payroll Rent Inventory Cash Land I don'tknow

Overall12th9th6th

Which of the following do you think are considered “expenses?” (Check all that apply)Which of the following do you think are considered “expenses?” (Check all that apply)

N: 3640N: 3640

40

0%

20%

40%

60%

80%

100%

Schools


Which of the following do you think are considered “expenses?” (Check all that apply)Which of the following do you think are considered “expenses?” (Check all that apply)

41


0%

20%

40%

60%

80%

100%

High Risk/HighReward

High Risk/LowReward

Low Risk/HighReward

Low Risk/LowReward

I don't know

Overall12th9th6th

In business, which of the following statementsIn business, which of the following statementsare generally accepted as realistic? (Check all that apply)are generally accepted as realistic? (Check all that apply)

N: 3632N: 3632

42

0%

20%

40%

60%

80%

100%

Schools


In business, which of the following statements are generallyIn business, which of the following statements are generallyaccepted as realistic? (Check all that apply)accepted as realistic? (Check all that apply)

43


0%

20%

40%

60%

80%

100%

Overall12th9th6th

Where does the government get their money? (Check all that apply)Where does the government get their money? (Check all that apply)

N: 3640N: 3640

44

0%

20%

40%

60%

80%

100%

Schools

Finance Correct ResponsesFinance Correct ResponsesWhere does the government get their money? (Check all that apply)Where does the government get their money? (Check all that apply)

45

Total Percent Correct for all Total Percent Correct for all ResponsesResponses

0%

20%

40%

60%

80%

100%

High Med Low

Schools

46

Questions?Questions?

business and personal finance survey

Documents

check onevariance

financial demographicsdo

financial demographicshow

financial demographicswhere

financial demographicswrite

financial demographicson

circle onevariance

following things