why no formal savings
Datafile
Index term
Question asked in the latest wave:
wealthassetsanddebt_w4.nosvy
Question label:
Why no formal savings
Question text:
What is the main reason you do not have any saving accounts?
Question universe:
if (GRIDVARIABLES.EMBoost = 1 | GRIDVARIABLES.GPCompare = 1 | GRIDVARIABLES.LDA = 1 | ff_NewImm = 1) & SVACTS = 96 (Part of the EMBoost, GP Comparison or LDA sample or is a recent immigrant and has no savings accounts)
Question interviewer instructions:
CODE ONE ONLY
Further details:
For further details about this question, please see the questionnaires
| Value label | Value | Absolute frequency | Relative frequency |
|---|---|---|---|
| inapplicable | -8 | 40729 | 86.52% |
| proxy | -7 | 3935 | 8.36% |
| refusal | -2 | 3 | 0.01% |
| don't know | -1 | 5 | 0.01% |
| no money, little money to save | 1 | 1913 | 4.06% |
| don't understand how these accounts work | 2 | 19 | 0.04% |
| tried but was refused | 3 | 2 | 0.0% |
| don't want to save money in these ways | 4 | 88 | 0.19% |
| religious or ethical reasons | 5 | 34 | 0.07% |
| don't trust banks | 6 | 15 | 0.03% |
| don't understand the point of saving | 7 | 12 | 0.03% |
| never thought to do it | 8 | 100 | 0.21% |
| none of these | 96 | 150 | 0.32% |
| other | 97 | 69 | 0.15% |
| Total | 47074 | 100.0% |
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