Financial Planning for Generation X & Y Women
 
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Polls

Have you succeeded in keeping your "financial resolutions" this year?

(July 2011 - July 2011)

• Yesbar graph796 responses
• Nobar graph37 responses
• Not yet, but I haven't given up hope!bar graph75 responses

The New Year often brings with it a desire to organize or re-organize your life. One of your New Years resolutions may be to become financially organized.

How financially organized are you?

(January 2011 - July 2011)

• I am comfortable with my financial organization.bar graph25 responses
• I plan to get my files and records organized through the Wi$eUp Program.bar graph63 responses
• I do not plan to get financially organized at this time. bar graph7 responses

Wi$eUp on Credit Cards

(October 2010 - December 2010)

• I do NOT have credit cards.bar graph37 responses
• I have at least one credit card but have no credit card balance.bar graph49 responses

I have stopped using my credit card/s and :

(October 2010 - December 2010)

• Pay ONLY the minimum payment each month.bar graph8 responses
• Pay MORE than the minimum payment each month.bar graph42 responses
• Have skipped at least one credit card payment in the last 6 months.bar graph9 responses

I continue to use my credit card/s and:

(October 2010 - December 2010)

• Generally pay the balance in FULL each month.bar graph46 responses
• Pay MORE than the minimum payment each month.bar graph40 responses
• Pay ONLY the minimum payment each month.bar graph10 responses
• Have skipped at least one credit card payment in the last 6 months.bar graph7 responses

What are your savings habits?

(September 2010 - October 2010)

• I am saving MORE than 10% of my monthly income.bar graph23 responses
• I am saving at least 10% of my monthly income.bar graph4 responses
• I am saving between 5 -10% of my monthly income.bar graph6 responses
• I am saving LESS than 5% of my monthly income, but I am saving.bar graph7 responses
• I am currently NOT savings on a regular basis.bar graph32 responses
• I plan to begin saving regularly by the end of this year.bar graph14 responses

Which of the following statements applies to you?

(August 2010 - September 2010)

• I work from home.
bar graph12 responses
• I am employed and plan to continue working where I am.
bar graph64 responses
• I am employed but looking for different employment.
bar graph37 responses
• I am unemployed and looking for a job.
bar graph21 responses
• I am in school and working full time.
bar graph14 responses
• I am in school and working part time.
bar graph6 responses
• I am in school and currently not employed.
bar graph6 responses

I am finished with school, and my entire student debt is/was:

(June 2010 - August 2010)

• less than $5,000 bar graph21 responses
• $5,000 - $9,999bar graph9 responses
• $10,000 - $29,999bar graph30 responses
• $30,000 - $59,999bar graph33 responses
• $60,000 or more
bar graph37 responses

I am currently in school and I estimate that my entire student debt is/will be:

(June 2010 - August 2010)

• less than $5,000bar graph2 responses
• $5,000 - $9,999bar graph5 responses
• $10,000 - $29,999bar graph11 responses
• $30,000 - $59,999bar graph7 responses
• $60,000 or more
bar graph8 responses

It took/will take me:

(June 2010 - August 2010)

• 0-2 years to pay off student debt.bar graph14 responses
• 3-5 years to pay off student debt.bar graph14 responses
• 5-7 years to pay off student debt.bar graph17 responses
• 7-10 years to pay off student debt.bar graph23 responses
• 11 or more years to pay off student debt. bar graph68 responses

Have you calculated how much income you will need in retirement?

(April 2010 - June 2010)

• Yesbar graph20 responses
• Nobar graph53 responses

How confident are you that you will reach your retirement income needs?

(April 2010 - June 2010)

• Very confident bar graph12 responses
• Somewhat confidentbar graph14 responses
• Not very confidentbar graph27 responses
• I have not calculated my retirement income.bar graph17 responses
• If I increase my contributions I can meet my retirement goals. bar graph3 responses

Which of the following is a claim of a debt relief scam? The company claims that

You can stop making payments to or communicating with your creditors.

(March 2010 - April 2010)

• True
Correct!
bar graph70 responses
• False
Wrong!
For more information go to Federal Trade Commision Scam Watch
bar graph43 responses

The scam company tells you your unsecured debts can be paid off for pennies on the dollar.

(March 2010 - April 2010)

• True
Correct!
bar graph83 responses
• False
Wrong!
For more information go to Federal Trade Commision Scam Watch
bar graph32 responses

The scam company tells you that your creditors can sue you for the unpaid portion of your unsecured debts.

(March 2010 - April 2010)

• True
Wrong!
bar graph54 responses
• False
Correct!

The truth is that the scam company will not tell you that creditors can sue you for the unpaid portion of your unsecured debts.


For more information go to Federal Trade Commision Scam Watch
bar graph61 responses

Which of the following practices is a sign of a credit repair scam?

The scam company tells you that your creditor can sue you for the unpaid portion of your unsecured debts.

(March 2010 - April 2010)

• True
Correct!
bar graph62 responses
• False
Wrong!
For more information go to Federal Trade Commision Scam Watch
bar graph52 responses

A credit repair scam company first tells you your rights and what you can do for yourself for free.

(March 2010 - April 2010)

• True
Wrong!
bar graph30 responses
• False
Correct!

The truth is that most scam companies do not tell you your rights, or that there are a number of steps you can take for free


For more information go to Federal Trade Commision Scam Watch
bar graph84 responses

The credit repair scam company will provide you services only after you pay certain fees up front.

(March 2010 - April 2010)

• True
Correct!
bar graph110 responses
• False
Wrong!
For more information go to Federal Trade Commision Scam Watch
bar graph8 responses

What method of tax preparation do you use?

(March 2010 - April 2010)

• I feel confident doing it myselfbar graph15 responses
• I use tax preparation softwarebar graph30 responses
• I use the federal e-file optionbar graph20 responses
• I use a tax professionalbar graph33 responses

I plan to do the following when filing my tax return this year.

(March 2010 - April 2010)

• Wait until the last day to do my taxes.bar graph6 responses
• File my return promptly after getting my W-2s and other paperwork together.bar graph45 responses
• File for an extension. bar graph2 responses
• I feel confident a tax professional will give me the best results.bar graph21 responses

Are you satified with your credit score?

(January 2010 - February 2010)

• Yes bar graph24 responses
• Nobar graph54 responses
• I have not checked my credit score in the past year.bar graph26 responses
• I have never checked my credit scorebar graph12 responses

Are you willing to give up brand name products to save money?

(January 2010 - January 2010)

• Yes, I have already switched a number of products, and have seen a positive impact on my budget. bar graph23 responses
• Yes, I plan to compare value and quality with some of the products I use and switch if its worth it. bar graph23 responses
• No, I will keep purchasing brand name products.bar graph0 responses
• No, I very seldom use brand name products.bar graph6 responses

How have your holiday shopping habits changed since last year? Choose all that apply.

(November 2009 - January 2010)

• I created a budget and plan to stick to it. bar graph27 responses
• I plan to spend less money on gifts this year than last year. bar graph40 responses
• I wont use credit cards if I dont have the money to pay before interest is charged.bar graph34 responses
• I plan to put everything on a credit card and pay after January.bar graph7 responses
• I plan to use a store lay-away option.bar graph5 responses
• I plan to purchase less expensive gifts.bar graph36 responses
• I decided not to give gifts this year.bar graph14 responses
• Gift giving is not a part of my holidays.bar graph6 responses

Do you believe that keeping a spending diary would help you save?

(September 2009 - November 2009)

• Yes, it helps me keep track of where my money is really going each month/paycheck.bar graph52 responses
• Yes it keeps me on budget.bar graph14 responses
• Yes I think it would help, but I do not keep a spending diary.bar graph81 responses
• No I do not believe keeping a spending diary would help curb my spending. bar graph6 responses
• No Its too much trouble to keep a spending diary.bar graph10 responses
• No I am on a budget and know where my money is going. bar graph12 responses

Do you have an emergency fund?

Yes, I have enough money set aside to pay my bills for:

(August 2009 - September 2009)

• less than one month.bar graph32 responses
• 1 to 2 months.bar graph18 responses
• 3 to 4 months.bar graph8 responses
• 5 to 6 months.bar graph4 responses
• more than 6 months. bar graph9 responses
• No, I do not have an emergency fund set up at this time. bar graph51 responses

Im feeling most stressed about:

(July 2009 - August 2009)

• Paying back school loans.bar graph21 responses
• Finding a job.bar graph41 responses
• Funding my retirement.bar graph26 responses
• Paying my bills.bar graph71 responses
• Juggling work and family responsibilities.bar graph31 responses
• Im Okay - I feel that I have things under control.bar graph13 responses

Have you cut back on retirement savings during the market crunch?

(May 2009 - June 2009)

• Yes I have cut back by less than 15%.bar graph15 responses
• Yes I have cut back by 15%.bar graph2 responses
• Yes - I have cut back by more than 15%bar graph18 responses
• No - I have kept the amount I am saving the same.bar graph69 responses
• No - I have increased the amount I am saving.bar graph22 responses
• I do not have a retirement savings account. bar graph25 responses

Do you feel that your debt is manageable?

(March 2009 - April 2009)

• Yes, my debt is manageablebar graph183 responses
• No, my debt is NOT manageablebar graph106 responses
• I have no credit card debtbar graph86 responses

Do you know your debt-to-income-ratio?

(March 2009 - April 2009)

• Yesbar graph108 responses
• Nobar graph263 responses

Do you know how to calculate your debt-to-income-ratio?

(Chapter 4 of the Wi$eUp Curriculum provides information on how to calculate your debt-to-income-ratio. Registration for the Wi$eUp online course is free.)

(March 2009 - April 2009)

• yesbar graph120 responses
• Nobar graph244 responses
bar graph0 responses

Have you recently (in the last 6 months) lost your job?

(January 2009 - March 2009)

• Yesbar graph39 responses
• Nobar graph197 responses

Are you having trouble meeting monthly expenses?

(January 2009 - March 2009)

• Yes - it is hard to get by each month.bar graph165 responses
• NO - I have money left over for savings.bar graph76 responses

Which is the OFFICIAL site to help consumers obtain their free credit report?

(January 2009 - January 2009)

• www.annualcreditreports.com
Wrong! Be careful about imposter websites!
bar graph34 responses
www.annualcreditreport.com
Correct! It is the OFFICIAL website authorized by the Federal government.
bar graph95 responses

Have you requested a free credit report in the last 12 months?

(January 2009 - January 2009)

• Yesbar graph82 responses
• No bar graph66 responses

Have you tapped into your savings or retirement account in the past few months to make ends meet?

(December 2008 - January 2009)

• Yesbar graph122 responses
• Nobar graph130 responses

Given the current economic climate, do you plan on postponing a large monetary purchase?

(November 2008 - December 2008)


Given the current economic climate, will you start paying down your debt faster?

(November 2008 - December 2008)

• Yesbar graph107 responses
• Nobar graph40 responses
• No - I am debt freebar graph34 responses

Are you worried about funding your child's college education?

(August 2008 - October 2008)

• No, I have a plan in place.bar graph8 responses
• Yes, I haven't planned that far ahead.bar graph41 responses
• Yes. Even though I am saving, I feel it will not be enough.bar graph26 responses
• This question is not applicable to me.bar graph45 responses

Do you take advantage of the Employee Benefits offered through your employer?

(September 2008 - October 2008)

• I am Self Employedbar graph11 responses
• Yesbar graph53 responses
• Nobar graph4 responses
• Not Applicablebar graph6 responses

Which of the following Employee Benefits are provided by your employer?

(August 2008 - September 2008)

• Health Insurancebar graph59 responses
• Life Insurancebar graph50 responses
• Retirement Plansbar graph52 responses
• Matching funds for a retirement planbar graph41 responses
• Other Amenitiesbar graph30 responses
• No Benefits bar graph10 responses
• I am Unemployedbar graph5 responses

Does your family have a written emergency preparedness plan in place?

(July 2008 - August 2008)

• Yesbar graph42 responses
• Nobar graph330 responses

As gasoline prices soar, how are you cutting back? Please check all that apply:

(June 2008 - July 2008)

• Using mass transportation.bar graph109 responses
• Using alternative transportation (bicycle, car pool, etc.)bar graph72 responses
• Cutting back on eating out.bar graph273 responses
• Minimize driving by planning/consolidating my errands around town.bar graph321 responses
• Cutting back on entertainment.bar graph206 responses
• Will not take a vacation this year.bar graph125 responses
• Do not need to cut back.bar graph19 responses
• Otherbar graph33 responses
• Looking for a part-time jobbar graph54 responses

Studies show that happiness is related to good money control. Which financial habits do you practice to control your money? Check all that apply.

(May 2008 - June 2008)

• Stick to a written budget to guide spending.bar graph19 responses
• Keep written records of money spent.bar graph22 responses
• Balance checkbooks at least once a month.bar graph42 responses
• Pay bills before they are due to avoid late fees.bar graph61 responses
• Track all credit card spending by writing it down.bar graph12 responses

If your household will receive an economic stimulus payment, how do you plan to use most of your rebate?

(April 2008 - May 2008)

• Save or invest itbar graph57 responses
• Pay down debt with itbar graph77 responses
• Put it toward a down payment for a homebar graph8 responses
• Spend it on home improvementsbar graph11 responses
• Put it toward buying a vehiclebar graph3 responses
• Pay down college expensesbar graph7 responses
• Use it for regular household expensesbar graph16 responses
• Otherbar graph9 responses
• Undecidedbar graph9 responses

If you will be receiving a tax refund, will you:

(April 2008 - May 2008)

• Spend it!bar graph52 responses
• Save it!bar graph124 responses
• Pay off debt with itbar graph235 responses

What is your most important savings goal for this year?

(February 2008 - March 2008)

• Save for retirementbar graph164 responses
• Save for a down payment on a housebar graph54 responses
• Save for another major purposebar graph125 responses
• I cannot save this year.bar graph75 responses

Do you make regular deposits to an emergency fund to build up enough money to cover 3–6 months' living expenses?

(February 2008 - March 2008)

• Yesbar graph138 responses
• Nobar graph281 responses

Do you "pay yourself first" by saving regularly every month?

(February 2008 - March 2008)

• Yesbar graph237 responses
• Nobar graph179 responses

Do you have a savings account?

(February 2008 - March 2008)

• Yesbar graph345 responses
• Nobar graph73 responses

Do you feel overwhelmed at the thought of organizing your financial records and emergency instructions?

(December 2007 - January 2008)

• Yesbar graph74 responses
• Nobar graph42 responses
• Partiallybar graph48 responses
• NA — I've already done this.bar graph8 responses

Do you have emergency instructions, such as emergency contacts, letters of instruction, and other vital information (about parents or children) in place in the case of a major emergency?

(December 2007 - January 2008)

• Yesbar graph19 responses
• Nobar graph109 responses
• Partiallybar graph44 responses

Are your financial records (vital documents, account numbers, passwords, and personal identification numbers (PINs)) organized in one place where they can be easily reached?

(December 2007 - January 2008)

• Yesbar graph43 responses
• Nobar graph63 responses
• Partiallybar graph66 responses

Pay for holiday gifts

(October 2007 - November 2007)

• I pay my holiday charge cards by April.bar graph8 responses
• I pay all year for holiday charges.bar graph1 responses
• I pay cash for all my holiday gifts.bar graph16 responses
• I pay a combination of cash and credit for holiday gifts.bar graph48 responses

Holiday Shopping

(October 2007 - November 2007)

• I shop for gifts on line.bar graph3 responses
• I shop both online and at retail stores.bar graph39 responses
• I shop locally to help our economy.bar graph16 responses

Has your identity ever been stolen?

(June 2007 - September 2007)

• My Identity has never been stolen.bar graph66 responses
• My Identity has been stolen once.bar graph14 responses
• My Identity has been stolen more than once.bar graph5 responses

What type of home mortgage do you have?

(March 2007 - May 2007)

ARM: Adjustable Rate Mortgage: subject to interest rate changes; rates adjust at intervals determined by the lender, usually subject to a Cap.bar graph10 responses
Balloon Mortgage: typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after which the balance is due or refinanced.bar graph2 responses
30 Year Fixed Rate: mortgage payments that remain fix through the life of the loan.bar graph28 responses
15 Year Fixed Rate: mortgage payments that remain fix through the life of the loan.bar graph2 responses
None — I am a renterbar graph15 responses
None — My mortgage is paid offbar graph5 responses
None — I never had a mortgagebar graph3 responses

In 2007, I would like to learn more about:

(December 2006 - January 2007)

• Recognizing and avoiding phishing/email scams, investing cons, pyramid schemes, etc.bar graph43 responses
• How to lower monthly shopping costs (e.g., for groceries and clothes)bar graph107 responses
• How to talk to somebody else about fixing their financial problembar graph52 responses
• Financial programs targeted toward helping people of specific background (e.g., minorities, immigrants, and single parents)bar graph87 responses
• The finances behind buying and maintaining a carbar graph80 responses
• Filing for federal income tax in April 2007bar graph10 responses

My greatest financial need is to:

(October 2006 - November 2006)

• improve my budgeting skillsbar graph62 responses
• reduce my debtbar graph55 responses
• increase my savingsbar graph50 responses
• save more for my retirementbar graph37 responses

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