HMSRU3 HMSRU User Survey

NONPUBLIC//FDIC BUSINESS

NONPUBLIC//FDIC BUSINESS

How Money Smart Are You? User Survey

[PRE-SURVEY INTRO]

What is the purpose of this survey?

The purpose of the How Money Smart Are You? User Survey is to better understand users’ experiences with the resource and the benefits that playing its games can provide. The FDIC is working to continuously improve the platform and find better ways to provide helpful information to consumers. Most of the questions in this survey are multiple choice and ask how you feel about your current financial situation and your familiarity with general financial topics. After you complete several of the games, you will receive an invitation to take another survey that asks about your experiences.

How long will this survey take?

This survey should take about 15 minutes to complete. If you have to stop in the middle and return later, your answers on any pages that you have completed will be saved.

What will the information be used for?

Responses to this survey will only be reported in aggregate; individual responses will not be shared and will only be used by the FDIC for internal purposes unless required by law.

What if I have questions?

If you have questions about this survey or experience any problems completing it, please contact the Help Desk at 1-888-XXX-XXXX or XXXXXXX@icf.com.

Thank you for your invaluable participation in the How Money Smart Are You? User Survey.

OMB Control No. XXXX-XXXX

Expiration Date: XXXX

PRA Burden Statement

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. The FDIC’s How Money Smart Are You? User Survey constitutes a collection of information under the Paperwork Reduction Act (PRA) which has been cleared by OMB under Control Number XXXX-XXXX (expiration date: XXXX). Public reporting burden for this information collection is estimated to average 15 minutes. These times include reviewing instructions and completing the survey. You can send comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, to the Paperwork Reduction Act Clearance Officer, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429; and to the Office of Management and Budget, Paperwork Reduction Project (Re: Control Number XXXX-XXXX), Washington DC 20503.

How Money Smart Are You? User Survey

[POST-SURVEY INTRO]

What is the purpose of this survey?

The purpose of the How Money Smart Are You? User Survey is to better understand users’ experiences with the resource and the benefits that playing its games can provide. The FDIC is working to continuously improve the platform and find better ways to provide helpful information to consumers users. Most of the questions in this survey are multiple choice questions about your experiences using How Money Smart Are You , how you feel about your current financial situation, and your familiarity with general financial topics. You will also receive another survey in about three months, so we can see how your answers to some of these questions may have changed over that time.

How long will this survey take?

The survey should take about 15 minutes to complete. If you have to stop in the middle and return later, your answers on any pages that you have completed will be saved.

What will the information be used for?

Responses to this survey will only be reported in aggregate; individual responses will not be shared and will only be used by the FDIC for internal purposes unless required by law.

What if I have questions?

If you have questions about this survey or experience any problems completing it, please contact the Help Desk at 1-888-XXX-XXXX or XXXXXXX@icf.com.

Thank you for your invaluable participation in the How Money Smart Are You? User Survey.

OMB Control No. XXXX-XXXX

Expiration Date: XXXX

PRA Burden Statement

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. The FDIC’s How Money Smart Are You? User Survey constitutes a collection of information under the Paperwork Reduction Act (PRA) which has been cleared by OMB under Control Number XXXX-XXXX (expiration date: XXXX). Public reporting burden for this information collection is estimated to average 15 minutes. These times include reviewing instructions and completing the survey. You can send comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, to the Paperwork Reduction Act Clearance Officer, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429; and to the Office of Management and Budget, Paperwork Reduction Project (Re: Control Number XXXX-XXXX), Washington DC 20503.

How Money Smart Are You? User Survey

[FOLLOW-UP SURVEY INTRO]

What is the purpose of this survey?

The purpose of the How Money Smart Are You? User Survey is to better understand users’ experiences with the resource and the benefits that playing its games can provide. The FDIC is working to continuously improve the platform and find better ways to provide helpful information to consumers. Most of the questions in the survey are multiple choice questions and ask how you feel about your current financial situation and your familiarity with general financial topics. Some of these questions are repeated from How Money Smart Are You User Surveys that you completed earlier, so that we can see how your answers may have changed since you used the website.

How long will this survey take?

The survey should take about 15 minutes to complete. If you have to stop in the middle and return later, your answers on any pages that you have completed will be saved.

What will the information be used for?

Responses to this survey will only be reported in aggregate; individual responses will not be shared and will only be used by the FDIC for internal purposes unless required by law.

What if I have questions?

If you have questions about this survey or experience any problems completing it, please contact the Help Desk at 1-888-XXX-XXXX or XXXXXXX@icf.com.

Thank you for your invaluable participation in the How Money Smart Are You? User Survey.

OMB Control No. XXXX-XXXX

Expiration Date: XXXX

PRA Burden Statement

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. The FDIC’s How Money Smart Are You? User Survey constitutes a collection of information under the Paperwork Reduction Act (PRA) which has been cleared by OMB under Control Number XXXX-XXXX (expiration date: XXXX). Public reporting burden for this information collection is estimated to average 15 minutes. These times include reviewing instructions and completing the survey. You can send comments regarding this burden estimate or any other aspect of this information collection, including suggestions for reducing the burden, to the Paperwork Reduction Act Clearance Officer, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429; and to the Office of Management and Budget, Paperwork Reduction Project (Re: Control Number XXXX-XXXX), Washington DC 20503.

Financial Wellbeing & Confidence

First, we would like to understand how you feel about your financial situation and how you manage your money. Please tell us how well each of the following statements describes you or your situation.

1. I could handle a major unexpected expense.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

2. I am securing my financial future.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

3. Because of my money situation, I feel like I will never have the things I want in life.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

4. I can enjoy life because of the way I’m managing my money.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

5. I am just getting by financially.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

6. I am concerned that the money I have or will save won’t last.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

7. I know how to make complex financial decisions.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

8. I am able to make good financial decisions that are new to me.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

9. I know how to get myself to follow through on my financial intentions.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

10. I am able to recognize a good financial investment.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

11. I know how to keep myself from spending too much.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

12. I know how to make myself save.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

13. I know where to find the advice I need to make decisions involving money.

1. Completely
2. Very well
3. Somewhat
4. Very little
5. Not at all

Next, please tell us how often each of the following statements apply to you.

14. Giving a gift for a wedding, birthday or other occasion would put a strain on my finances for the month.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

15. I have money left over at the end of the month.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

16. I am behind with my finances.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

17. My finances control my life.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

18. I know when I do not have enough information to make a good decision involving my money.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

19. I know when I need advice about my money.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

20. I struggle to understand financial information.

1. Always
2. Often
3. Sometimes
4. Rarely
5. Never

Financial Knowledge

How well do you understand each of the following?

21. How to create a spending and saving plan or budget.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

22. How to set financial goals.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

23. How to build an emergency savings fund.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

24. How to manage a savings or checking account.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

25. What types of products and services banks offer.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

26. How to choose the best financial products for my own personal needs.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

27. How my credit score is determined.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

28. What to do if I find inaccurate information on my credit report.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

29. How to increase my credit score over time.

1. I understand very well

2. I understand mostly

3. I understand a little

4. I do not understand at all

Next, we would like to know how familiar you are with different financial topics. You may be unfamiliar with some of these topics and that is OK. We ask that you try to answer the questions to the best of your ability.

30. An effective spending and saving plan or budget should always…

1. Record the value of assets like your home or automobile.

2. Tell you which bills to pay first if you can’t afford to pay them all.

3. List all of your expenses and sources of income.

4. Only include income that you get from your primary job.

31. If someone were making a spending and saving plan or budget, which of the following should generally be considered a fixed expense?

1. Food

2. Rent

3. Gasoline

4. Income

32. Which of the following types of information would not be included in your banking history report?

1. Unpaid negative balances on your past bank accounts

2. Your credit score

3. Fraud that you committed using a past bank account

4. Past accounts that banks closed because you did not pay fees that they charged you

33. Which of the following financial products would be best for someone who wanted to make frequent withdrawals to make purchases and pay bills?

1. Checking account

2. Certificate of deposit

3. Cashier’s check

4. Savings account

34. As a customer of a bank or credit union, for which of the following would you want the lowest possible interest rate?

1. Mortgage

2. Certificate of deposit

3. Savings account

4. Checking account

35. Which of the following is not covered by FDIC insurance, meaning that you would not get your money back if your bank failed?

1. Savings accounts

2. Stock investment accounts

3. Certificates of deposit

4. Checking account

36. Which of the following appears in your credit report?

1. Your income

2. Your savings account balances

3. Your debit card purchases

4. Your credit card limits

37. If a bank denies your loan application because of something on your credit report, which of the following is true?

1. The bank that denied you must give you an opportunity to explain the negative information on your credit report.

2. The bank that denied you must give you a second chance to apply within 6 months.

3. The bank that denied you must give you the contact information for the credit reporting agency they used.

4. You must wait at least one month after being denied before viewing your credit report yourself.

38. Which of the following is most likely to make your credit score increase?

1. Closing old credit card accounts

2. Applying for a new loan

3. Getting a better paying job

4. Paying down credit card balances

Financial Attitudes Toward Banking and Financial Providers

Please tell us how much you agree or disagree with the following statements.

39. I find dealing with banks to be stressful.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

40. Banks make it easy for their customers to learn about the financial services they provide.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

41. Banks protect the privacy and personal information of their customers.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

42. Banks generally have their customers’ best interests in mind.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

43. Banks offer accounts and other products that fit my needs well.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

Financial Behaviors (Pre-Survey and Follow-Up Survey)

44. Do you have a spending and saving plan or budget that you use to help manage your finances?

1. No → Go to Q47

2. Yes

45. (If Q44=Yes) How often do you check to see if you are following your spending and saving plan/budget?

1. Once a week or more

2. Less than once a week but more than once a month

3. About once a month

4. Less than once a month but at least every 3 months

5. Once or twice a year

6. Very rarely or never

46. (If Q44=Yes) How often do you review your spending and saving plan/budget to see if you need to make changes to it?

1. Once a week or more

2. Less than once a week but more than once a month

3. About once a month

4. Less than once a month but at least every 3 months

5. Once or twice a year

6. Very rarely or never

47. Do you have one or more accounts in your name with a bank or credit union? Please include any account you have individually as well as any account you hold jointly with someone else. Also include accounts you have with online-only banks or credit unions.

1. I have an account with a bank

2. I have an account with a credit union

3. I have an account with both a bank and a credit union

4. I do not have any account with a bank or credit union → Go to Q55

48. (If Q47=1, 2, or 3) Which of the following types of accounts do you have with your bank or credit union? Please select all that apply.

1. Personal checking account

2. Joint or shared checking account

3. Personal savings or money market account

4. Joint or shared savings or money market account

5. Another type of account

49. (If Q47=1, 2, or 3) How often do you check your account to make sure that your balance and any deposits and withdrawals are accurate? If you have multiple accounts please answer regarding the account you use most frequently.

1. Daily or nearly every day

2. Once or twice a week

3. Less than once a week but at least once a month

4. Less than once a month

5. Very rarely or never

50. (PRE-SURVEY ONLY) (If Q47=1, 2, or 3) Think about the last time that you opened a new account with a bank or credit union. Before opening that account, did you compare accounts from different financial institutions to choose the one that best fit your needs?

1. No

2. Yes

3. Not sure

51. (FOLLOW-UP SURVEY ONLY) (If Q47=1, 2, or 3) In the past 3 months, have you opened any new accounts with a bank or credit union?

1. No → Go to Q53

2. Yes

52. (FOLLOW-UP SURVEY ONLY) (If Q51=Yes) Before opening this new account, did you compare accounts from different financial institutions to choose the one that best fit your needs?

1. No

2. Yes

53. (If Q47=1, 2, or 3) In the past 3 months, have you been charged a fee for overdrawing an account? Overdrawing means spending more money than you had available in your account.

1. No → Go to Q55

2. Yes

54. (If Q53 = Yes) In the past 3 months, how many times have you been charged a fee for overdrawing an account? If you were charged multiple fees for the same overdraft, please count that as only a single instance in your answer.

1. 1 time

2. 2-3 times

3. 4-5 times

4. More than 5 times

55. Do you have any money saved that could be used in case of an emergency?

1. No → Go to Q58

2. Yes

56. (If Q55=Yes) Do you save money on a regular basis, such as putting aside money every time you get paid or monthly?

1. No

2. Yes

57. (If Q55=Yes) Where do you keep the money you save? Please select all that apply.

1. At home

2. In a savings or money market account (only appears if respondent has indicated they have this type of account earlier)

3. In a Certificate of Deposit (CD)

4. In a checking account (only appears if respondent has indicated they have this type of account earlier)

5. In an investment account (e.g., a stock market account, 401(k), or retirement account)

6. On a prepaid card

7. Somewhere else

58. (If Q47=1, 2, or 3) Do you use direct deposit to automatically deposit any payments that you receive into an account at a bank or credit union? These payments could include paychecks, benefit payments such as Social Security, or other government payments.

1. No

2. Yes

3. I do not receive a paycheck

4. I receive a paycheck, but do not have the option of directly depositing the funds into an account

59. Have you checked your credit report in the last 12 months?

1. No

2. Yes

60. If you wanted to check your credit report today, how confident are you that you would know how to do so?

1. Very confident

2. Somewhat confident

3. Not very confident

4. Not at all confident

Financial Behaviors (Post-Survey Only)

61. When you started to play the How Money Smart Are You games, did you have a spending and saving plan or budget that you used to help manage your finances?

1. No → Go to Q63

2. Yes

62. (If Q61=Yes) Since starting to play the How Money Smart Are You games, have you reviewed your spending and saving plan/budget to see if you need to make changes to it?

1. No → Go to Q65

2. Yes → Go to Q65

63. (If Q61=No) Since starting to play the How Money Smart Are You games, have you created a spending and saving plan/budget?

1. No

2. Yes → Go to Q65

64. (If Q63=No) How likely do you think it is that you will create a spending and saving plan or budget in the next 3 months?

1. Very likely

2. Somewhat likely

3. Not very likely

65. Do you have one or more accounts in your name with a bank or credit union? Please include any account you have individually as well as any account you hold jointly with someone else. Also include accounts you have with online-only banks or credit unions.

1. I have an account with a bank → Go to Q67

2. I have an account with a credit union → Go to Q67

3. I have an account with both a bank and a credit union → Go to Q67

4. I do not have any account with a bank or credit union

66. (If Q65=4) How likely do you think it is that you will open an account with a bank or credit union in the next 3 months?

1. Very likely → Go to Q70

2. Somewhat likely → Go to Q70

3. Not very likely → Go to Q70

67. (If Q65=1, 2, or 3) How often do you check your account to make sure that any deposits and withdrawals are accurate? If you have multiple accounts please base your answer on the account you use most frequently.

1. Daily or nearly every day

2. Once or twice a week

3. Less than once a week but at least once a month

4. Less than once a month

5. Very rarely or never

68. (If Q65=1, 2, or 3) Since starting to play the How Money Smart Are You games, have you opened any new accounts with a bank or credit union?

1. No → Go to Q70

2. Yes

69. (If Q68=Yes) Before opening this new account, did you compare accounts from different financial institutions to choose the one that best fit your needs?

1. No

2. Yes

70. Do you have any money saved that could be used in case of an emergency?

1. No → Go to Q72

2. Yes

71. (If Q70=Yes) Do you save money on a regular basis, such as putting aside money every time you get paid or monthly?

1. No

2. Yes

72. Have you checked your credit report since starting to play the How Money Smart Are You games?

1. No

2. Yes → Go to Q74

73. (If Q72=No) How likely or unlikely do you think it is that you will check your credit report in the next 3 months?

1. Very likely

2. Somewhat likely

3. Somewhat unlikely

4. Very unlikely

74. If you wanted to check your credit report today, how confident are you that you would know how to do so?

1. Very confident

2. Somewhat confident

3. Not very confident

4. Not at all confident

HMSRU Satisfaction (Post-Survey Only)

Please tell us to what extent you agree or disagree with the following statements as they relate to the How Money Smart Are You games.

75. The financial topics that the games cover are relevant to me.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

76. I trust the information presented in the games.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

77. I feel more prepared to make good financial decisions after having played the games.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

78. The amount of time necessary to complete the games is reasonable.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

79. I enjoyed playing the games.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

80. I would recommend the games to other people who would like to learn about personal finance topics.

1. Strongly agree

2. Somewhat agree

3. Somewhat disagree

4. Strongly disagree

81. Do you have any suggestions for improving the How Money Smart Are You games?

[TEXT BOX]

82. In addition to the games, the How Money Smart Are You website has a number of other tools and resources. Have you used any of these other tools or resources?

1. No → Go to Q85

2. Yes

83. (If Q82=Yes) How helpful did you find the other tools and resources on the How Money Smart Are You website?

1. Very helpful

2. Somewhat helpful

3. Not very helpful

4. Not at all helpful

84. (If Q82=Yes) Do you have any suggestions for improving the other tools and resources on the How Money Smart Are You website?

[TEXT BOX]

Demographic Information (Pre-Survey Only)

85. What is your current age?

[NUMERIC TEXT BOX] OR Prefer not to answer

86. Are you Hispanic, Latino/a/x, or of Spanish origin?

1. No

2. Yes

3. Prefer not to answer

87. With which of the following racial categories do you identify yourself? Please select all that apply.

1. American Indian or Alaska Native

2. Asian

3. Black or African-American

4. Native Hawaiian or Other Pacific Islander

5. White

6. Prefer not to answer

88. Which of the following best describes your gender?

1. Female

2. Male

3. Transgender

4. Non-binary

5. Another gender

6. Prefer not to answer

89. What do you expect will be your total household income from all sources in 2023 before taxes? Please include income from other people in your household with whom you share your finances (e.g., a spouse or partner) but not people in your household with whom you do not share finances (e.g., a roommate).

1. Less than $15,000

2. $15,000 to $24,999

3. $25,000 to $49,999

4. $50,000 to $74,999

5. $75,000 to $99,999

6. $100,000 to $199,999

7. $200,000 or more

8. Prefer not to answer

Focus Group Participation (Post-Survey Only)

90. The FDIC will be holding focus groups to learn more about people’s experiences playing How Money Smart Are You games. Participants will receive a small monetary stipend in exchange for their time. Could we contact you in the future about participating in these groups?

1. No

2. Yes