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Transcript of 1 Business and Personal Finance Survey Managing Director – Brandon Tilus Executive Director –...
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
DemographicsDemographics
0%
20%
40%
60%
80%
100%
Male Female
Overall12th9th6th
GenderGender
Variance:.250Variance:.250N: 3645N: 3645
5
DemographicsDemographics
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
DemographicsDemographics
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
DemographicsDemographics
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
DemographicsDemographics
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
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DemographicsDemographics
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
DemographicsDemographics
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
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DemographicsDemographics
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
12
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)
Variance:1.198Variance:1.198N: 3504N: 3504
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Financial DemographicsFinancial Demographics
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)
Variance:4.156Variance:4.156N: 3517N: 3517
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Financial DemographicsFinancial Demographics
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
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Financial DemographicsFinancial Demographics
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
Financial DemographicsFinancial Demographics
0%
20%
40%
60%
80%
100%
Yes
Overall12th9th6th
Do you have a checking account? (Check one)Do you have a checking account? (Check one)
Variance: .232Variance: .232
N: 3651N: 3651
Mean: .37Mean: .37
13371337
653653
287287322322
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Financial DemographicsFinancial Demographics
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
Financial DemographicsFinancial Demographics
0%
20%
40%
60%
80%
100%
Yes
Overall12th9th6th
Do you carry a credit card? (Check one)Do you carry a credit card? (Check one)
Variance: .072Variance: .072
N: 3592N: 3592
Mean:.08Mean:.08
280280
196196
3636 2929
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Financial DemographicsFinancial Demographics
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
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Financial DemographicsFinancial Demographics
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
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Financial DemographicsFinancial Demographics
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
Financial DemographicsFinancial Demographics
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
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PerceptionsPerceptions
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
PerceptionsPerceptions
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
PerceptionsPerceptions
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)
Variance: .755Variance: .755
N: 3643N: 3643
Mean: 3.69Mean: 3.69
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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
Personal Finance QuestionsPersonal Finance Questions
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
All the moneyyou make minus
the expensesyou had inmaking that
money
The amount ofmoney you
receive from allsources
I don't know
Overall12th9th6th
What is your “income?” (Check one)What is your “income?” (Check one)
Variance: 1.146Variance: 1.146
N:3665N:3665
Strongly Strongly DisagreeDisagree
Strongly Strongly AgreeAgree
I know what I know what incomeincome is. is.
30
Personal Finance Correct Personal Finance Correct ResponsesResponses
What is your “income?” (Check one)What is your “income?” (Check one)
0%
20%
40%
60%
80%
100%
Schools
31
Personal Finance QuestionsPersonal Finance Questions
0%
20%
40%
60%
80%
100%
The amount ofassets you have
minus yourliabilities
The money thatyou receive
from anemployer or
your parents asan allowance
All the moneyyou make minus
the expensesyou had inmaking that
money
The amount ofmoney you
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
Strongly Strongly DisagreeDisagree
Strongly Strongly AgreeAgree
I know what I know what net worthnet worth is. is.
32
Personal Finance Correct Personal Finance Correct ResponsesResponses
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)
Variance: 1.959Variance: 1.959
N: 3655N: 3655
Strongly Strongly DisagreeDisagree
Strongly Strongly AgreeAgree
I know what I know what revenuerevenue is. is.
34
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Schools
Personal Finance Correct Personal Finance Correct ResponsesResponses
What is “revenue?” (Check one)What is “revenue?” (Check one)
35
Business Finance QuestionsBusiness Finance Questions
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)
Variance: 1.169Variance: 1.169
N: 3663N: 3663
Strongly Strongly DisagreeDisagree
Strongly Strongly AgreeAgree
I know what I know what profitprofit is. is.
36
Personal Finance Correct Personal Finance Correct ResponsesResponses
How would you define “profit?” (Check one)How would you define “profit?” (Check one)
0%
20%
40%
60%
80%
100%
Schools
37
Business Finance QuestionsBusiness Finance Questions
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
Strongly Strongly DisagreeDisagree
Strongly Strongly AgreeAgree
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
Business Finance QuestionsBusiness Finance Questions
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
Business Finance Correct Business Finance Correct Overall ResponsesOverall Responses
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
Business Finance QuestionsBusiness Finance Questions
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
Business Finance Correct Business Finance Correct Overall ResponsesOverall Responses
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
Business Finance QuestionsBusiness Finance Questions
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?