Financial Satisfaction Survey Results…

Reading survey results is a heck of a lot easier than writing about them.

Our sincere thanks to the dozens of Americans who responded to the Financial Satisfaction Survey that The Money for Life Blog ran through Survey Monkey durning the month of February 2008. The survey asked eight questions about how the survey takers regarde aspects of their personal economies. The survey results are shown at the end of this post. In the meantime, here are a few observations.

OVERALL:

1. 27% of the respondents rated themselves in the top 3 catagories;
2. 27.7% rated themselves in the bottom 3 catagories;
3. 45.3% ended up in the middle 3 catagories;
4. Many more respondents rated themselves in the bottom catagory (Ugly) than gave themselves a top rating (WOW);
5. 55.3%, however, placed themselves in the top 4 rating catagories;
6. 32.9% landed in the bottom 4;
7. Only 10.8% rated themselves in the middle.

CATAGORIES: Contrary to the protestations of almost every pundit and politician, most American’s seem to feel pretty good about their personal economies. The survey felt the catagory ratings would be meaningfully divided into three sections – top 3, middle 3 and lower 3. As it turns out,however, the top catagory received very few responses – just over 1% of the total – so we dropped down to the bottom 4 versus the top 4.

1. 71.5% fell into the top income satisfaction catagories;
2. 62.2% saw their debt situation as satifactory (5.6% saw it as WOW);
3. 66.7% – almost exactly 2/3rds – were happy with the ready cash they had available;
4. Satisfation with long term savings split almost evenly between the top 4 (50.1%) and the bottom 4 (49.9%);
5. 56.6% felt more secure than not (2.8% voted WOW);
6. 64% didn’t see taxes as a major burden (and I feel pretty confident the wealthiest in America were not responding);
7. Only 25% were worried about their personal economies while a whopping 75% seem pretty comfortable;
8. An equally small group (25%) felt their pesonal economies were too complex.

Granted, this is not a scientific survey. The individuals who took the survey are currently more interested in building a solid personal economy than the average American; taking the survey is itself an indication of that. Regardless of these considerations it is worth noting that not even one of those who took the survey considered him/her self a financial failure.

The weakest ratings related to long term savings. This doesn’t surprise us. The primary focus of www.TheMoneyForLifeBook.com is on demonstrating how to make certain your savings allow you to thrive in good times and bad.

Thanks again to all of the participants!

	Ugly!	Oi vei!	Help!	Mom!	Eh?	OK.	Good.	Mrvls!	WOW!
Income?	5.6%	5.6%	11.1%	8.3%	16.7%	38.9%	8.3%	5.6%	0.0%
Debt?	13.9%	8.3%	5.6%	5.6%	5.6%	16.7%	16.7%	22.2%	5.6%
Cash?	16.7%	5.6%	5.6%	5.6%	11.1%	27.8%	22.2%	5.6%	0.0%
Savings?	22.2%	2.8%	19.4%	5.6%	2.8%	27.8%	16.7%	2.8%	0.0%
Security?	13.9%	0.0%	11.1%	5.6%	11.1%	25.0%	19.4%	11.1%	2.8%
Taxes?	8.3%	13.9%	11.1%	2.8%	16.7%	41.7%	5.6%	0.0%	0.0%
Worries?	11.1%	5.6%	8.3%	0.0%	16.7%	27.8%	27.8%	2.8%	0.0%
Complex?	11.1%	0.0%	5.6%	8.3%	5.6%	27.8%	41.7%	0.0%	0.0%

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The Satisfaction Survey results will also be posted as a separate page on the blog –>

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