Survey for Women
Posted by Gail | Filed under talking about money
Recently I received the results of a survey that had me wondering who had been interviewed. I’m prepared to admit if I’m out of touch, if I’m out of touch. So I’m asking the women in my audience to answer some questions so I have a sense of how reflective this survey’s results are relative to the people I talk to. Please also pass it on to female friends and family because I would love to get as much feedback as possible. You can refer them to this blog. Or you can email them the questions and they can return the responses to getgvo@gmail.com with Survey and your name in the subject line. Ditto anyone here who is trying to keep their age a secret! If a question doesn’t apply to you, just say n/a. As an incentive I’m offing 3 copies of my books to the three people who get the most other people to answer the survey. (Make sure you tell them to put your name in when they answer the survey so I can count your referrals.) You’ll be able to choose from Easy Money, Debt-Free Forever, and the newest book, Never Too Late, which I’ll send as soon as it’s released.
1. Do you control the purse strings when it comes to making decisions about household spending?
2. Do you have the financial “last word” on spending in your family?
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
4. Have you set a financial goal in the last year?
5. Do you have a financial plan to achieve your goal?
6. Are you in charge of your family’s financial education?
7. Have you actually taken steps to educate your kids?
8. Do you consistently encourage your children to save money?
9. How do you prefer to get your financial information?
- Newspapers
- TV
- Online
- Blogs
- Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
- Lack of interest in financial news
- Not relevant to my life
- Boring
- Too theoretical
- Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
12. How old are you:
- Under 20
- 20-30
- 31-40
- 41-50
- 51-60
- Over 60
13. Do you have an advisor that you trust?
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
15. Where to you live?
- Canada
- U.S.
- Other
————
After severely pissing me off because they turned down a deposit that was “over my daily limit”, this week CIBC returned a cheque I had drawn to myself for not being properly endorsed and declined my VISA at my hotel… so, what do YOU think is happening here?
December 9, 2010 at 1:41 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Husband & I share responsibility, but I do most day-to-day management
2. Do you have the financial “last word” on spending in your family?
No–see above
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
Eight
4. Have you set a financial goal in the last year?
Yes–to pay off credit cards within 3 years
5. Do you have a financial plan to achieve your goal?
It’s in process
6. Are you in charge of your family’s financial education?
Yes…but I guess I could do better at this
7. Have you actually taken steps to educate your kids?
Not enough. You got me.
8. Do you consistently encourage your children to save money?
Yes–they deposit at least part of monetary gifts and/or paychecks into their savings accounts
9. How do you prefer to get your financial information?
Online–there’s this great website: gailvazoxlade.com. Maybe you’ve heard of it!
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
Frequently not relevant–we have no stocks or investments other than retirement accounts and our home.
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
Six
12. How old are you:
41-50
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
13. Do you have an advisor that you trust?
Only my father-in-law, who tells everybody how to do everything.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
Five
15. Where to you live?
U.S.
* Canada
* U.S.
* Other
December 9, 2010 at 2:04 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
We split about 75/25 – but who gets the bigger ’say’ depends on the topic. (I win on nearly all day-to-day expenses; he wins on repairs/maintenance item; etc.)
2. Do you have the financial “last word” on spending in your family?
About half the time…and for about half the money.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8
4. Have you set a financial goal in the last year?
Yes!
5. Do you have a financial plan to achieve your goal?
I think so…
6. Are you in charge of your family’s financial education?
Yes.
7. Have you actually taken steps to educate your kids?
Yes.
8. Do you consistently encourage your children to save money?
Yes (but she’s only 4 – so her concept isn’t fully entrenched yet)
9. How do you prefer to get your financial information?
•Newspapers
•TV
•Online
•Blogs
•Other: (what?)
All the above. Plus people I trust (and sometimes lessons from another person’s negative experience)
10. If you do not take advantage of “financial news” sources, why not?
n/a
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
3 (I know a lot (see question 9) but there is often a lot of conflicting information. On common topics – pay down debt; don’t carry unsecured debt; negotiate interest rates – I’m VERY confident; on bigger issues – will the market recover this year or next; is this a good time to buy stocks or put funds into GICs or… – I’m far less confident because there are so many different recommendations.)
12. How old are you:
•41-50
13. Do you have an advisor that you trust?
Yes.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
15. Where to you live?
•Canada
December 9, 2010 at 2:09 pm
Wow, I am single with no kids, so this really has no relevance to me.
I am getting married next year, so that’s a whole other budgeting issue….
December 9, 2010 at 2:17 pm
1. Do you control the purse strings when it comes to making decisions about household spending? No
2. Do you have the financial “last word” on spending in your family? No
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 8
4. Have you set a financial goal in the last year? yes
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? N/A
7. Have you actually taken steps to educate your kids? N/A
8. Do you consistently encourage your children to save money? N/A
9. How do you prefer to get your financial information? Online, Blogs and TV
Newspapers
TV
Online
Blogs
Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you: 20 – 30
Under 20
20-30
31-40
41-50
51-60
Over 60
13. Do you have an advisor that you trust?
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
15. Where to you live? Canada
Canada
U.S.
Other
December 9, 2010 at 2:31 pm
1. Do you control the purse strings when it comes to making decisions about household spending?yes
2. Do you have the financial “last word” on spending in your family?yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)3
4. Have you set a financial goal in the last year?yes
5. Do you have a financial plan to achieve your goal?yes
6. Are you in charge of your family’s financial education?yes
7. Have you actually taken steps to educate your kids?yes
8. Do you consistently encourage your children to save money?yes
9. How do you prefer to get your financial information?
•Online
•Blogs
10. If you do not take advantage of “financial news” sources, why not?
n/a
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)9
12. How old are you:
•41-50
13. Do you have an advisor that you trust?not really
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)8
15. Where to you live?
•Canada
December 9, 2010 at 2:37 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
- mostly I do. Boris and I talk about everything but I am usually the one to say “yay” or “nay” in the end.
2. Do you have the financial “last word” on spending in your family?
- as per question #1…yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
- 9. I only do it myself if it’s routine or something we’ve done before.
4. Have you set a financial goal in the last year?
- yes
5. Do you have a financial plan to achieve your goal?
- yes
6. Are you in charge of your family’s financial education?
- n/a
7. Have you actually taken steps to educate your kids?
- n/a
8. Do you consistently encourage your children to save money?
- n/a
9. How do you prefer to get your financial information?
- Online
10. If you do not take advantage of “financial news” sources, why not?
- n/a
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 5
12. How old are you:
- 20-30
13. Do you have an advisor that you trust?
- no
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 2
15. Where to you live?
- Canada
December 9, 2010 at 2:44 pm
Boo! Survey could have simply included a question about gender and been open to us men-folk too. Fail.
December 9, 2010 at 2:46 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
I control the purse strings in the regard that my husband does not do the banking, however, most spending is done with discussion
2. Do you have the financial “last word” on spending in your family?
This is a joint effort in our family, so no
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
Most likely an 8.. alot of the time it is a courtesy consult as he really doesn’t care what I do as long as we don’t end up in the poor house
4. Have you set a financial goal in the last year?
Yes, many
5. Do you have a financial plan to achieve your goal?
yes we do
6. Are you in charge of your family’s financial education?
I try, but it is hard when your spouse thinks you do such a great job yourself that he should stay out of the mix and is also lazy about such things
7. Have you actually taken steps to educate your kids?
My son is a little young yet, but he does get asked if he has the money for all the things he thinks he needs
8. Do you consistently encourage your children to save money?
Absolutely!!
9. How do you prefer to get your financial information?
I prefer online as it is always open and you can get as many points of view as you can handle
•Newspapers
•TV
•Online
•Blogs
•Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
•Lack of interest in financial news
•Not relevant to my life
•Boring
•Too theoretical
•Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I would rate myself about a 7. I am confident but know I can learn more
12. How old are you:
43
•Under 20
•20-30
•31-40
•41-50
•51-60
•Over 60
13. Do you have an advisor that you trust?
no
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6 si the answer here
15. Where to you live?
Saskatchewan, Canada
•Canada
•U.S.
•Other
December 9, 2010 at 3:10 pm
1. 50 50 split
2. share decisions
3. anything over 100 dollars ( if using family money not personal fun money)
4. yes
5. yes
6. yes
7. yes we tell them about the budget we have and discuss large pruchases. Give them a clothing allowance where they have to have a minimum number of pieces of certain clothes and how they get ther is up to them
8. yes and one does and one doesnt!
9. all of above and books
10. N/A
11. 5 still trying to learn and i think gaining ground
12. 41-50
13. yes
14. 8
15 Canada
December 9, 2010 at 3:14 pm
CIBC messed up with me a few times so I dropped them like a hot potato, but only AFTER I wrote the head manager a scathing letter about how poorly organized and monitored my time with them had been (and got all the erroneous charges reimbursed). That was in 1996, and I don’t miss them at all.
December 9, 2010 at 3:29 pm
1.Yes
2.Yes
3.9
4.Yes
5.Yes
6.Yes
7.No. They are 3 months and 2 1/2 years old
8.Yes. Both have piggy banks
9.TV
10.N/A
11.8
12.20-30
13.Yes.
14.10
13.Canada
About CIBC. My husband and I have been with a few different banks that have all “Screwed Up” and ended up with CIBC. I love my bank and our Financial Advisor at our branch.
Maybe there was irregular activity on your accounts and they were trying to protect you? I would have called my Advisor right up and asked what was going on.
December 9, 2010 at 3:31 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Me, single
2. Do you have the financial “last word” on spending in your family? n/a single
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) n/a single
4. Have you set a financial goal in the last year? Yes
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? n/a single
7. Have you actually taken steps to educate your kids? n/a single
8. Do you consistently encourage your children to save money? n/a single
9. How do you prefer to get your financial information?
Newspapers Yes
TV Yes
Online Yes
Blogs Yes
Other: Financial books from library
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you:
Under 20
20-30
31-40
41-50
51-60 XXX
Over 60
13. Do you have an advisor that you trust? Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 8
15. Where to you live?
West Coast Canada XXXX
U.S.
Other
December 9, 2010 at 3:59 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Joint decision making with my husband, but I generally control day to day spending since I’m the one that does most of the grocery shopping, children’s stuff, presents etc.
2. Do you have the financial “last word” on spending in your family? I think my husband and I would discuss all large decisions with regards to finances, so I don’t think either of us has the “last word”
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)…..7
4. Have you set a financial goal in the last year?…yes, to take our RRSPs out of financial planner’s hands and do it ourselves via online brokerage.
5. Do you have a financial plan to achieve your goal? Not a real plan, but a loose time frame to get things done, do the paperwork, make decisions etc.
6. Are you in charge of your family’s financial education? My kids are really small, so not an issue at this point, but I do talk about money to my 4 year old, also discussions about people less lucky than us and charity (we go to Goodwill together to do drop offs).
7. Have you actually taken steps to educate your kids? See above. At some point in the next couple of years, we will get some library books about money
8. Do you consistently encourage your children to save money? Well, a 4 year old doesn’t have much impulse control yet…but I do usually offer a/buy this now or b/save your money and buy something better later on….he always chooses a!!!!
9. How do you prefer to get your financial information? Everywhere…mostly books, your blog and newspaper articles.
•Newspapers
•TV
•Online
•Blogs
•Other: (what?)
10. If you do not take advantage of “financial news” sources, why not? I sometimes browse, but sometimes I just don’t care about how the Dow Jones Industrial average is doing, or how various stocks are doing…I still have 30 years for my RRSPs…so short term volatility can’t be a huge issue for me or I’d go nuts!
So a combination of these things listed below:
•Lack of interest in financial news
•Not relevant to my life
•Boring
•Too theoretical
•Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you: 31-40
•Under 20
•20-30
•31-40
•41-50
•51-60
•Over 60
13. Do you have an advisor that you trust? No. I think my husband and I are probably as smart as the advisors but until recently we have just been lazy so that has changed recently (from advisor to online brokerage, changes are slow to take effect due to logistics and effort on our part).
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident). 5.
Frankly, I think the financial advisor profession is not strict enough i.e. you need the Canadian Securities course, an ethics course, some hours worked….no provision there for anything above a baseline intelligence. I feel most advisors I have encountered are merely sales people.
15. Where to you live? Canada
•Canada
•U.S.
•Other
December 9, 2010 at 4:24 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
N/A
2. Do you have the financial “last word” on spending in your family?
N/A
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
N/A
4. Have you set a financial goal in the last year?
yes
5. Do you have a financial plan to achieve your goal?
yes
6. Are you in charge of your family’s financial education?
yes
7. Have you actually taken steps to educate your kids?
yes
8. Do you consistently encourage your children to save money?
yes,
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
blogs/books
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
41
13. Do you have an advisor that you trust?
yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I love reading others blogs, as they keep me on the straight and narrow!
15. Where to you live?
* Canada
————
December 9, 2010 at 5:09 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Day to day management and budget creating yes primarily me.
2. Do you have the financial “last word” on spending in your family? no, it’s a joint decision
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 5 ; I try to include him in all decisions but he really isn’t interested but I force him to pay attention when it’s important.
4. Have you set a financial goal in the last year? yes, to build our E-Fund up to a respectable amount
5. Do you have a financial plan to achieve your goal? yes in process now as long as there are no major changes in to income or bills (aka the vehicle keeps working another two years)
6. Are you in charge of your family’s financial education? yes
7. Have you actually taken steps to educate your kids? our son is only 16 months old but we “feed” his piggy bank Gobble everyday with Daddy’s spare change and weekly with what Mama has left from Grocery & Discretion budget. All of his holiday/birthday money he has received went into a higher interest account for college (Smartypig), his long term savings is in ING and his allowance goes into a savings account attached to our primary account.
8. Do you consistently encourage your children to save money? Yes we “feed” Gobble everyday with out fail.
9. How do you prefer to get your financial information? Blogs, online and books.
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
10. If you do not take advantage of “financial news” sources, why not? I do not read enough on investing, I can’t seem to wrap my brain around it – it usually confuses me and/or bores me to tears.
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 6, I need more knowledge on long term savings & planning
12. How old are you: 31-40
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
13. Do you have an advisor that you trust? somewhat, we haven’t talked about too many things but he has been the family accountant for years. Does my taxes every year.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 5
15. Where to you live? U.S./Other (military family overseas)
* Canada
* U.S.
* Other
December 9, 2010 at 5:22 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yep!
2. Do you have the financial “last word” on spending in your family?
You bet, but I have built in lots of savings, so there is room for the husband’s hobbies.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
10 (all the time!) He needs to know what is happening if anything should happen to me.
4. Have you set a financial goal in the last year?
Yep.
5. Do you have a financial plan to achieve your goal?
Yep.
6. Are you in charge of your family’s financial education?
Yep. Though we both research issues or concerns.
7. Have you actually taken steps to educate your kids?
Well, no kids yet. I thought it referred to us.
9. How do you prefer to get your financial information?
* Blogs: Highest
* Other: Market reports by our financial advisors.
* NewspapersAnd books, and articles.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6
12. How old are you:
31-40
13. Do you have an advisor that you trust?
Not yet. We are working on this.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
15. Where to you live?
Canada
December 9, 2010 at 5:27 pm
Being on the downside of sixty I do not think the survey would apply to me.
Gail… I read you daily and love the good sound advice. The only thing I can add is the motto I have lived by all these years and that is to keep and open mind and a closed wallet when dealing with anything financial until I can wrap my mind around all things possible involved in the transaction
December 9, 2010 at 5:49 pm
1-8 Single so I make all decisions for myself
9 Blogs
10 Not relevant to my life
11 Eight
12 38
13 No, was ripped off last year and still looking for a good one
14 Eight
15 Other
December 9, 2010 at 5:51 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
- Yes
2. Do you have the financial “last word” on spending in your family?
- Yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
- 5
4. Have you set a financial goal in the last year?
- yes
5. Do you have a financial plan to achieve your goal?
- yes but it’s probably not as good as it should be
6. Are you in charge of your family’s financial education?
- yes
7. Have you actually taken steps to educate your kids?
- yes
8. Do you consistently encourage your children to save money?
- yes, yes and yes
9. How do you prefer to get your financial information?
•Newspapers
•TV
•Online
•Blogs
•Other: (what?)
- read Gail’s blog daily, once in a while may look at a financial magazine – if it’s in the waiting room with me.
10. If you do not take advantage of “financial news” sources, why not?
•Lack of interest in financial news
•Not relevant to my life
•Boring
•Too theoretical
•Other: (what?)
- most of the time I don’t know what they are talking about – mostly its investing and saving – having trouble getting buy and need something more specific to my situation.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- definitely a 1
12. How old are you:
•Under 20
•20-30
•31-40
•41-50
•51-60
•Over 60
- 41 – 50
13. Do you have an advisor that you trust?
- no
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 1
15. Where to you live?
•Canada
•U.S.
•Other
- Canada
December 9, 2010 at 5:56 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
- yes
2. Do you have the financial “last word” on spending in your family?
- In my household, yes, in my family, no.
3. How often do you consult your partner before making fiscal decisions?
- n/a, I’m single
4. Have you set a financial goal in the last year?
- Only the usual, stay within the budget and save 15 to 20 per cent of my net income.
5. Do you have a financial plan to achieve your goal?
- I budget.
6. Are you in charge of your family’s financial education?
- only of my own.
7. Have you actually taken steps to educate your kids?
- I don’t have kids
8. Do you consistently encourage your children to save money?
- n/a
9. How do you prefer to get your financial information?
- Magazines (print), weekly newspaper
10. If you do not take advantage of “financial news” sources, why not?
- I do not follow anything more up-to-date than weekly, because that would only make me nervous.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 6
12. How old are you:
- 41-50
13. Do you have an advisor that you trust?
- no
14. How confident do you feel that you know who to turn to for financial advice?
n/a
15. Where to you live?
- Other
December 9, 2010 at 6:10 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Day to day things – yes
Big decisions – no
2. Do you have the financial “last word” on spending in your family?
No, we discuss everything
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
10
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
Most of the time via Gail
7. Have you actually taken steps to educate your kids?
Yes
8. Do you consistently encourage your children to save money?
Yes
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
All of the above
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
N/A
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
61
13. Do you have an advisor that you trust?
Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
10
15. Where to you live?
* Canada
* U.S.
* Other
Canada
December 9, 2010 at 6:17 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes
2. Do you have the financial “last word” on spending in your family?
Yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
My partner and I have totally separated financial lives.
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
No children.
8. Do you consistently encourage your children to save money?
No children.
9. How do you prefer to get your financial information?
Internet & a friend.
10. If you do not take advantage of “financial news” sources, why not?
I do.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you: 47
13. Do you have an advisor that you trust?
Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
10
15. Where to you live?
Canada
December 9, 2010 at 6:19 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
I do most of the day to day management, but when it comes to decisions about spending it is 50/50
2. Do you have the financial “last word” on spending in your family?
No – 50/50
Although if we do disagree on something i can usually make him see sense when i lay it out logically
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8 or 9
4. Have you set a financial goal in the last year?
More like ideas than an actual goal with figures
5. Do you have a financial plan to achieve your goal?
We have a financial plan, but it’s for everyday, not so much for achieving a goal
6. Are you in charge of your family’s financial education?
I seem to have been so far with educating myself and my husband – we have a baby on the way, so we’ll see who educates him – hopefully both of us.
7. Have you actually taken steps to educate your kids?
Baby isn’t born yet
8. Do you consistently encourage your children to save money?
We will do
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
Online, blogs and courses.
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
Some of it seems a bit complected! like investments
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
31-40
13. Do you have an advisor that you trust?
No advisor
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5
15. Where to you live?
* Canada
* U.S.
* Other
Canada
December 9, 2010 at 6:56 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Yes I am single
2. Do you have the financial “last word” on spending in your family? NA
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) NA
4. Have you set a financial goal in the last year? Yes
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? Yes
7. Have you actually taken steps to educate your kids? Yes
8. Do you consistently encourage your children to save money? Yes
9. How do you prefer to get your financial information?
Newspapers
TV
Online yes
Blogs yes
Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you:
Under 20
20-30
31-40
41-50
51-60 X
Over 60
13. Do you have an advisor that you trust? Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 9
15. Where to you live?
Canada X
U.S.
Other
————
December 9, 2010 at 7:37 pm
1. Yes
2. 90% yes
3. 9
4. yes – got married (without going into debt!)
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? Yes – I used to be a banker
7. Have you actually taken steps to educate your kids? n/a
8. Do you consistently encourage your children to save money? n/a
9. How do you prefer to get your financial information?
* Online
* Blogs
10. If you do not take advantage of “financial news” sources, why not? n/a
* Too theoretical
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 8
12. How old are you:
* 20-30
13. Do you have an advisor that you trust? no
14. How confident do you feel that you know who to turn to for financial advice? 6
15. Where to you live?
* Canada
December 9, 2010 at 8:08 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes
2. Do you have the financial “last word” on spending in your family?
No
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
5
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes but it is fluid and often changes.
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
Definitely!
8. Do you consistently encourage your children to save money?
Definitely!
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
Newspapers, Blogs
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
I limit myself because it can be an overload of information and not always written in a manner that speaks to me. That is why I love your stuff Gail!
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6 and learning
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
50
13. Do you have an advisor that you trust?
No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
3
15. Where to you live?
* Canada
* U.S.
* Other
Canada
As for the CIBC, we switched to BOM last summer and we love them; great rate plans and a much more human touch. Seems like you were being ‘punished,’ although I can’t imagine why.
December 9, 2010 at 8:14 pm
1. Yes
2. NA
3. NA – single
4. Yes
5. No
6. NA
7. NA
8. NA
9. Newspapers, Online & Blogs
10. NA
11. 6
12. 20-30
13. No
14. 4
15. Canada
December 9, 2010 at 8:38 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes. I’m a single female
2. Do you have the financial “last word” on spending in your family?
Yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
n/a
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
n/a
7. Have you actually taken steps to educate your kids?
n/a (but I have started charity and education funds for my nephews)
8. Do you consistently encourage your children to save money?
n/a
9. How do you prefer to get your financial information?
Online and blogs.
10. If you do not take advantage of “financial news” sources, why not?
No – Lack of interest in financial news
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5
12. How old are you:
31-40
13. Do you have an advisor that you trust?
I have an advisor, but I always discuss his suggestions with my dad in detail before making any decisions.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
15. Where to you live?
Canada
December 9, 2010 at 8:39 pm
1. We share it
2. We share it
3. 10
4. Yes
5. Yes
6. Yes
7. She is too little. Not speaking yet but she does have a RESP!
8. RESP
9. How do you prefer to get your financial information?
TV
Online
Blogs
10. I do!
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 8
12. How old are you:
31-40
13. Yes
14. 9
15. Canada
December 9, 2010 at 9:00 pm
1. Do you control the purse strings when it comes to making decisions about household spending? YES
2. Do you have the financial “last word” on spending in your family? YES
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) SINGLE, SO DEFINITELY N/A
4. Have you set a financial goal in the last year? YES
5. Do you have a financial plan to achieve your goal? YES
6. Are you in charge of your family’s financial education? YES
7. Have you actually taken steps to educate your kids? N/A
8. Do you consistently encourage your children to save money? YES, ENCOURAGE MY NEPHEWS, HAVE NO CHILDREN
9. How do you prefer to get your financial information? A MIX. ADHD kicks in here.
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you: 38
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
13. Do you have an advisor that you trust? If I can call myself an advisor. lol
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 6
15. Where to you live? The BESTEST country in the world: Canada
* Canada
* U.S.
* Other
————
December 9, 2010 at 9:16 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
- yes
2. Do you have the financial “last word” on spending in your family?
- yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
- 10
4. Have you set a financial goal in the last year?
- yes: to max out our RRSPs, and to pay down the mortgage more aggressively
5. Do you have a financial plan to achieve your goal?
- yes: a certain amount per paycheque
6. Are you in charge of your family’s financial education?
- yes
7. Have you actually taken steps to educate your kids?
- he’s not yet 2 yrs old, but he knows coins go in his piggy bank
8. Do you consistently encourage your children to save money?
n/a
9. How do you prefer to get your financial information?
* Newspaper
* Online
* Blogs
10. If you do not take advantage of “financial news” sources, why not?
* Boring
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 8
12. How old are you:
* 31-40
13. Do you have an advisor that you trust?
- I don’t have one
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 4. I tend to use the bank, but I realize they are also trying to upsell me.
15. Where to you live?
* Canada
December 9, 2010 at 9:24 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
YES
2. Do you have the financial “last word” on spending in your family?
YES
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
6 (six)
4. Have you set a financial goal in the last year?
YES!
5. Do you have a financial plan to achieve your goal?
YES!
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
She’s only two, but we already do a piggy bank and plan to start an allowance and bank account as soon as she’s old enough to understand.
8. Do you consistently encourage your children to save money?
We will…
9. How do you prefer to get your financial information?
TV – mostly from Til Debt and Princess…
10. If you do not take advantage of “financial news” sources, why not?
Boring, except for Til Debt and Princess…
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5 (five)
12. How old are you:
20-30
13. Do you have an advisor that you trust?
NO – aside from parents and Gail’s shows/blog
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
2 (two)
15. Where to you live?
•Canada
December 9, 2010 at 9:27 pm
1.Yes — I do all of the day to day management, but consult with my husband on major purchases. He manages our investments as he is an advisor.
2. Yes — but we come to a joint decision
3. 10
4. Yes
5. Yes
6. Yes
7. Yes
8.Yes
9. Online and blogs.
10.
11. 8.5
12. How old are you:
31-40
13. Yes! My husband is an advisor.
14. 10
15. Where to you live?
Canada
December 9, 2010 at 9:45 pm
1. Sort of, I make most of the mundane daily purchases.
2. No – discussions with hubby
3. 7 – 8
4. Yes
5. Yes
6. Mostly
7. Not yet
8. Not yet
9. Newspapers, blogs
10. N/A
11. 7
12. 31 – 40
13. Not really
14. 8
15. (West Coast) Canada
December 9, 2010 at 9:50 pm
. Do you control the purse strings when it comes to making decisions about household spending?
No, it’s a joint effort with my husband.
2. Do you have the financial “last word” on spending in your family?
No, also shared.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
Our personal finances are separate, so 1 for those; 10 for household finances.
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
N/A
7. Have you actually taken steps to educate your kids?
N/A
8. Do you consistently encourage your children to save money?
N/A
9. How do you prefer to get your financial information?
* TV
* Online
* Blogs
10. If you do not take advantage of “financial news” sources, why not?
N/A
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
12. How old are you:
* 31-40
13. Do you have an advisor that you trust?
No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
15. Where to you live?
* Canada
December 9, 2010 at 9:56 pm
1. It’s shared decision making with me and my husband.
2. No, we participate together in the decision making and accept responsibility for our choices.
3. 5 out of 10 — I don’t consult him on the cost of buying goods/services for myself (like clothes for myself or a spa treatment). I will have a conversation with him about items for the whole family (like a second car or living room furniture).
4. Yes! We set out and met our goal of a 20% down payment on our first house and still had enough left over for closing costs and some furniture.
5. Yes, we saved regularly every two weeks into an account for years. This was part of a larger family financial plan (RESPs, RRSPs, TFSAs, Emergency fund etc.)
6. No I’m not in charge of financial education but I am more likely to initiate discussion with my husband because I am more exposed to financial information (Gail’s blog, close relationship with my financial planner) than he is. We identify our knowledge gaps and work to resolve them.
7. My kids are 2 1/2 years old and 1 year old so the only “financial teaching” we’re doing right now is setting a good example. For instance, we don’t spend more than we make.
8. I will encourage them to save their money when we start to give them an allowance. In the meantime, they can watch me and hubby save money for vacations, for things around the house, for their RESPs, and for retirement (RRSPs, TFSAs, etc).
9. I prefer to get a balanced perspective on financial information so I don’t rely solely on news media like newspapers (print or online) or TV. I read Gail’s blog and the newsletters from my financial planner and books.
10. I don’t rely solely on “financial news” sources because I am skeptical that they are unbiased.
11. 7 out of 10 — I feel comfortable with basic financial know-how.
12. I am 31-40 years old.
13. Yes, I have a financial advisor that I trust.
14. 10 out of 10
15. I live in Canada
December 9, 2010 at 9:59 pm
Recently I received the results of a survey that had me wondering who had been interviewed. I’m prepared to admit if I’m out of touch, if I’m out of touch. So I’m asking the women in my audience to answer some questions so I have a sense of how reflective this survey’s results are relative to the people I talk to. Please also pass it on to female friends and family because I would love to get as much feedback as possible. You can refer them to this blog. Or you can email them the questions and they can return the responses to getgvo@gmail.com with Survey and your name in the subject line. Ditto anyone here who is trying to keep their age a secret! If a question doesn’t apply to you, just say n/a. As an incentive I’m offing 3 copies of my books to the three people who get the most other people to answer the survey. (Make sure you tell them to put your name in when they answer the survey so I can count your referrals.) You’ll be able to choose from Easy Money, Debt-Free Forever, and the newest book, Never Too Late, which I’ll send as soon as it’s released.
1. Do you control the purse strings when it comes to making decisions about household spending?
For the most part yes, he is involved but I get final say on most if not all spending.
2. Do you have the financial “last word” on spending in your family?
yes I do, I keep better track of the budget and the kids nessecities.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
I consult him 9 out of 10
4. Have you set a financial goal in the last year?
I have set several financial goals this year only reached two but we will get there eventually.
5. Do you have a financial plan to achieve your goal?
I did have a financial plan found a few glitches and haven’t gotten back to it to make a new one.
6. Are you in charge of your family’s financial education?
Yes i have a savings account for both of my kids, and am thinking about setting one up for my husband so he can go back to school in the near future.
7. Have you actually taken steps to educate your kids?
I have tried with my daughter she is still a little young and I have started to set aside portions of there monetary gifts from family.
8. Do you consistently encourage your children to save money?
No, but than I don’t constantly encourage myself either.
9. How do you prefer to get your financial information?
Newspapers
TV
Online
Blogs
Other: (what?)
None of the above, I only have savings accounts, everything else is just a little confusing.
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?) They make no sense to me, I used to try to understand now not so much.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5
12. How old are you:
Under 20
20-30 23
31-40
41-50
51-60
Over 60
13. Do you have an advisor that you trust?
No not really.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
0
15. Where to you live?
Canada I live in Canada
U.S.
Other
December 9, 2010 at 10:01 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Major decisions are joint… usually my recommendation though. lol
2. Do you have the financial “last word” on spending in your family? Yes…
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) Consult? I always “discuss” with him, but usually, my mind is already decided. So… maybe in the middle at 5?
4. Have you set a financial goal in the last year? Yes
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? Yes
7. Have you actually taken steps to educate your kids? Yes
8. Do you consistently encourage your children to save money? Yes.
9. How do you prefer to get your financial information? Here!
10. If you do not take advantage of “financial news” sources, why not? When it comes to investing, I am very hesitant. This blog is good, because not only does Gail provide factualy information and things to consider, you also get to “hear” other people’s real life situations that they’ve had.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 5
12. How old are you:
•Under 20
•20-30
•31-40 *
•41-50
•51-60
•Over 60
13. Do you have an advisor that you trust? No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) If I’m really stuck, I’d go to my dad…. he’d be a 9.
15. Where to you live?
•Canada *
•U.S.
•Other
December 9, 2010 at 10:21 pm
Well,
Few of the questions are relevant to me since I’m single but let me answer your last question about CIBC Gail!
It has happened to me too. CIBC Visa declines a card and then makes up some excuse on how they “tried” to contact you to verify information. Here’s what I think. They love sending junk mail and telemarketing calls. Their way of confirming that your telephone information and address is correct is by forcing you to call them annually after they have your card declined.
I used to use my Infinite Visa card for everything and paid off each month in full. Now I barely touch it since it was “declined” four months ago and will be cancelling before my annual fee is due.
Remember – the Do not call rules don’t apply if you’ve voluntarily given CIBC your number. My advice – provide them a daytime work number. If it’s important you’ll get the message, if it’s a telemarketer they’ll call at night and you don’t have to listen to it.
AnnaV
December 9, 2010 at 10:38 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
- Yes
2. Do you have the financial “last word” on spending in your family?
- Not always, sometimes we compromise, but my rationale generally wins.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
- 10
4. Have you set a financial goal in the last year?
- yes
5. Do you have a financial plan to achieve your goal?
- yes
6. Are you in charge of your family’s financial education?
- n/a
7. Have you actually taken steps to educate your kids?
- n/a
8. Do you consistently encourage your children to save money?
- n/a
9. How do you prefer to get your financial information?
- Online
- Blogs
10. If you do not take advantage of “financial news” sources, why not?
- people who do not take advantage need to learn personal responsibility.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 10
12. How old are you:
- 31-40
13. Do you have an advisor that you trust?
- yes, myself
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
- 10
15. Where to you live?
- Canada
December 9, 2010 at 10:40 pm
As for the CIBC question, hmm….I work for one of the big 5’s. I see “everything” happen this time of year. Transactions approve and then clients get an over the limit fee, transactions decline despite there being funds available…I just want to run away and work for a bakery instead of a bank.
December 9, 2010 at 10:47 pm
1. Do you control the purse strings when it comes to making decisions about household spending? We each have our own money that we control without nagging the other person but we have a joint account that our joint expenses are paid out of and a joint savings account.
2. Do you have the financial “last word” on spending in your family? On certain items I do, on others he does. But we discuss all matters beforehand.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 8 overall (10 on large purchases)
4. Have you set a financial goal in the last year? yes – wedding
5. Do you have a financial plan to achieve your goal? yes, joint savings account with automatic deposits from both of us
6. Are you in charge of your family’s financial education? We have no children, but I certainly have taught my bf a few things about RRSPs and investing
7. Have you actually taken steps to educate your kids? n/a
8. Do you consistently encourage your children to save money? n/a
9. How do you prefer to get your financial information?
* Newspapers
I also read articles on moneyville.ca and read other pf blogs
* TV
* Online
* Blogs
* Other: (what?)
Gail! So, I guess TV and blogs
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
I take advantage of pf blogs mostly, I will occassionally look to see how the markets are doing but don’t take an active interest
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 9
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
30
13. Do you have an advisor that you trust? Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 9
15. Where to you live? Canada
* Canada
* U.S.
* Other
December 9, 2010 at 10:58 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
50/50
2. Do you have the financial “last word” on spending in your family?
Yes.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
9/10. anything outside budget we must come to an agreement about…accept emergencies
4. Have you set a financial goal in the last year?
Yes.
5. Do you have a financial plan to achieve your goal?
Yes.
6. Are you in charge of your family’s financial education?
Yes. I am the driving force and master and creator of the budgeting/ investing excel spread sheets!
7. Have you actually taken steps to educate your kids?
no kids yet.. but we’re saving
8. Do you consistently encourage your children to save money?
no kids
9. How do you prefer to get your financial information?
Books and Blogs
10. If you do not take advantage of “financial news” sources, why not?
No. not relevant. Business and political yes… “financial” no.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6-7 I know how I learn and how to find information… that should get me through situations… the rest in discipline
12. How old are you:
25
13. Do you have an advisor that you trust?
No. Maybe the in-laws?
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5-6…
15. Where to you live?
Vancouver, Canada
December 9, 2010 at 11:43 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
My husband and I share this responsibility
2. Do you have the financial “last word” on spending in your family?
Again, we try and share this as best we can
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
10 – all the time
4. Have you set a financial goal in the last year?
Yes, to pay off our mortgage as quick as we can
5. Do you have a financial plan to achieve your goal?
Yes, it’s a work in progress
6. Are you in charge of your family’s financial education?
We both learn what we can and bring the info back to each other
7. Have you actually taken steps to educate your kids?
We don’t have any children yet
8. Do you consistently encourage your children to save money?
No children yet, but we do plan to teach them they way of Gail
9. How do you prefer to get your financial information?
Online
Blogs
Magazines
Friends and Family
10. If you do not take advantage of “financial news” sources, why not?
N/A
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
20-30
13. Do you have an advisor that you trust?
Yes, several
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
9
15. Where to you live?
Canada
December 9, 2010 at 11:52 pm
1. Do you control the purse strings when it comes to making decisions about household spending? YES
2. Do you have the financial “last word” on spending in your family? YES
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) N/A but when was married I would say 9 at least
4. Have you set a financial goal in the last year? YES
5. Do you have a financial plan to achieve your goal? YES
6. Are you in charge of your family’s financial education? YES
7. Have you actually taken steps to educate your kids? N/A
8. Do you consistently encourage your children to save money? N/A
9. How do you prefer to get your financial information?
All of these
* TV
* Online
* Blogs
10. If you do not take advantage of “financial news” sources, why not? I DO TAKE ADVANTAGE
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 5
12. How old are you:
* 31-40
13. Do you have an advisor that you trust? ANswer – Don’t trust any of them 100% because I believe I was screwed over a few years back but have them and only trust answers to technical questions that they can’t make commission off of.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) Answer: 5 – I don’t have a set person that I would use for all situations. For me could be anyone from my lawyer to my mother to my sister depending on what I am looking for exactly. Lots of people have experience in different areas. I don’t take advice from anyone whom I don’t know to have a grasp of their own financial situation. For instance, friends can talk a good game etc, but it’s not like I see their bank statements, and if they are dining out 5 nights a week, probably not on the same page as me.
15. Where to you live?
* Canada
————
December 10, 2010 at 12:06 am
1. Do you control the purse strings when it comes to making decisions about household spending?
My husband and I are recently married so we still have separate accounts. I do, however, tell him what he should or shouldn’t be buying.
2. Do you have the financial “last word” on spending in your family?
No, we agree on it together.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
About an 8, most of the time.
4. Have you set a financial goal in the last year?
No.
5. Do you have a financial plan to achieve your goal?
Not yet.
6. Are you in charge of your family’s financial education? N/A
7. Have you actually taken steps to educate your kids? N/A
8. Do you consistently encourage your children to save money? N/A
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
10. If you do not take advantage of “financial news” sources, why not? N/A
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
About a 6.
12. How old are you:
* 31-40
13. Do you have an advisor that you trust? Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I would say a 10, there are 2 people that I know that I am confident with.
15. Where to you live?
* U.S.
December 10, 2010 at 12:18 am
1. Do you control the purse strings when it comes to making decisions about household spending?
I primarily make the decisions, but I try to involved my husband on major decisions.
2. Do you have the financial “last word” on spending in your family?
9 times out of 10
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
5, it depends on if it is a major decisions. We actually decided to consult for any amount over $150.
4. Have you set a financial goal in the last year?
To be more agressive and pay our debt off.
5. Do you have a financial plan to achieve your goal?
Yes, we have setup a plan over a three year period to pay off our debt.
6. Are you in charge of your family’s financial education?
Yes, but my husband is involved in our meetings.
7. Have you actually taken steps to educate your kids?
Yes, I have setup them up with a mini budget binder to keep track of their funds.
8. Do you consistently encourage your children to save money?
Yes, they are to put 10% to church, then 10% to savings and they can do what they want with the rest.
9. How do you prefer to get your financial information?
I prefer online, but my second choice would be TV or Blogs.
•Newspapers
•TV
•Online
•Blogs
•Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
•Lack of interest in financial news
•Not relevant to my life
•Boring
•Too theoretical
•Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I would say 7 out of ten, I haven’t tapped into investing as of yet.
12. How old are you:
31- 40
•Under 20
•20-30
•31-40
•41-50
•51-60
•Over 60
13. Do you have an advisor that you trust?
Yes.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I would say 8 out of 10.
15. Where to you live?
U.S.
•Canada
•U.S.
•Other
December 10, 2010 at 1:59 am
1. Do you control the purse strings when it comes to making decisions about household spending?
Day to day spending decisions – yes/ Spending on large ticket items – joint decision
2. Do you have the financial “last word” on spending in your family?
same as #1
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
Three
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
Yes
8. Do you consistently encourage your children to save money?
Yes
9. How do you prefer to get your financial information?
All of the above plus magazines and talking to family and friends
10. If you do not take advantage of “financial news” sources, why not?
N/A
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
Ten
12. How old are you:
•41-50
13. Do you have an advisor that you trust?
Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
Ten
15. Where to you live?
•Canada
December 10, 2010 at 2:50 am
1. Yes (I’m single)
2. N/A
3. N/A
4. Yes
5. Yes
6. N/A
7. N/A
8. N/A
9. Online
10. All of these:
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
11. 7
12. 20-30
13. No
14. 1
15. Canada
December 10, 2010 at 2:51 am
1. Do you control the purse strings when it comes to making decisions about household spending? we share this — there are areas of freedom to spend — we consult in unknown territories
2. Do you have the financial “last word” on spending in your family? again, we share these decisions
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 5-6
4. Have you set a financial goal in the last year? yes
5. Do you have a financial plan to achieve your goal? yes, but it needs revising due to circumstancial changes
6. Are you in charge of your family’s financial education? we share this, too
7. Have you actually taken steps to educate your kids? yes
8. Do you consistently encourage your children to save money? yes but not as consistently as I would like to encourage them.
9. How do you prefer to get your financial information? n/a
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 6-7
12. How old are you:
* 41-50
13. Do you have an advisor that you trust? there are people that I trust but not really an expert advisor in finances per se
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 3
15. Where to you live?
* U.S.
December 10, 2010 at 10:04 am
1. Do you control the purse strings when it comes to making decisions about household spending?
Most of the decisions but I do consult my husband before making any
2. Do you have the financial “last word” on spending in your family?
My husband usually defers to me since I manage the money
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
10
4. Have you set a financial goal in the last year?
Yes to pay off my husnband’s credit cards within the next year.
5. Do you have a financial plan to achieve your goal?
yes
6. Are you in charge of your family’s financial education?
yes
7. Have you actually taken steps to educate your kids?
n/a but I plan on it when I have kids
8. Do you consistently encourage your children to save money?
n/a
9. How do you prefer to get your financial information?
Newspapers
TV
Online
Blogs
Other: (what?) I jsut watch your show and read your site for ideas
10. If you do not take advantage of “financial news” sources, why not?
Not really relevant right now.
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
12. How old are you:
31-40
Under 20
20-30
31-40
41-50
51-60
Over 60
13. Do you have an advisor that you trust?
No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
1 I will be getting an advisor as soon as our cc’s are paid for additional retirement planning
15. Where to you live?
US
Canada
U.S.
Other
————
December 10, 2010 at 10:13 am
I love your blog Gail. You are a very wise woman and I really appreciate your website and your books. Thanks Brenda
1. Yes
2. Yes
3. NA – I am a single mom
4. Yes
5. Yes
6. Yes
7. Yes
8. Yes
9. All of the above
10. NA
11. Nine
12. 41-50 (42 to be exact)
13. Yes
14. Nine
15. Canada
December 10, 2010 at 11:45 am
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes.
2. Do you have the financial “last word” on spending in your family?
No, outside of the predictable spending I share the responsibility with my husband.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
5
4. Have you set a financial goal in the last year?
Yes.
5. Do you have a financial plan to achieve your goal?
Yes.
6. Are you in charge of your family’s financial education?
Yes.
7. Have you actually taken steps to educate your kids?
Initial Steps
8. Do you consistently encourage your children to save money?
No.
9. How do you prefer to get your financial information?
* Other: Online research and if it leads to books or other sources I’ll go from there.
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6
12. How old are you:
* 31-40
13. Do you have an advisor that you trust?
I don’t have an advisor.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5
15. Where to you live?
* Canada
December 10, 2010 at 1:01 pm
1. yes
2. to a degree – most major decisions are mutual with my fiance
3. 8
4. yes
5. yes
6. n/a
7. n/a
8. n/a
9. online, blogs and TV
10. n/a
11. 6
12. 20-30
13. yes
14. 8
15. Canada
December 10, 2010 at 1:38 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
yes
2. Do you have the financial “last word” on spending in your family?
Usually
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8
4. Have you set a financial goal in the last year?
yes – to live within our means and pay off debt while not accruing more
5. Do you have a financial plan to achieve your goal?
yes, thanks Gail
6. Are you in charge of your family’s financial education?
yes
7. Have you actually taken steps to educate your kids?
they watch tddup with me, lol, understand about jars, cash only and ‘it isn’t on the list’ as well as saving for their own wants
8. Do you consistently encourage your children to save money?
yes. if they don’t have the money, mom does not do a loan. too bad.
9. How do you prefer to get your financial information?
online
blogs
10. If you do not take advantage of “financial news” sources, why not?
the tv goes too fast, I need more time to ponder or really understand what they have said to me – so many acronyms or I don’t always know how the stories are connected or what the background story is. I do not recieve a daily newspaper.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
on budgeting – ten
on investing – three
12. How old are you:
*31 – 40
13. Do you have an advisor that you trust?
yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
nine
15. Where to you live?
* Canada
*****
CIBC caused me to bounce a student loan payment many years ago and I’ve never forgotten. They also refused to give me a low limit credit card one week after I was done university (and the week before I would have been approved, I’m sure). They are trying to whoo me with my mortgage, but the advisor is very young and only repeating what is being told to her – so I don’t have much confidence in her. She has yet to tell me the term of the mortgage, just focuses on the interest rate and their 2% cash back (which does not cover my penalty to move my mortgage at all) and they only allow 10% prepayment per year. Nahhhhh.
December 10, 2010 at 2:34 pm
1. Do you control the purse strings when it comes to making decisions about household spending? It is mutual between us, but he does rely on me for most decisions.
2. Do you have the financial “last word” on spending in your family? YES
3. How often do you consult your partner before making fiscal decisions? 8
4. Have you set a financial goal in the last year? YES
5. Do you have a financial plan to achieve your goal? YES
6. Are you in charge of your family’s financial education? YES
7. Have you actually taken steps to educate your kids? YES
8. Do you consistently encourage your children to save money? YES
9. How do you prefer to get your financial information?
Newspapers
TV
Online
Blogs
10. If you do not take advantage of “financial news” sources, why not?
I do take advantage of financial news sources.
11. How confident are you in your financial know-how? 8
12. How old are you:
51-60
13. Do you have an advisor that you trust? No
14. How confident do you feel that you know who to turn to for financial advice? 5
15. Where to you live?
Canada
December 10, 2010 at 2:40 pm
But if you had said RBC or TD or Scotia or BMO or any other bank, you would have had the same comments. Everyone can tell a story about any bank and how badly they were treated *sob*.
It happens to everyone, but so does good service (no mentions that) and so does meeting expectations (no one ever talks about that…”went into the bank today and deposited my cheque and it was done correctly. Not really an exciting anecdote).
What no-one can ever admit is that sometimes they don’t keep track of their own balances, or read the card agreement, or figure out what happens after six o’clock on a weekday. Sometimes you’ve got to be responsible, figure out the rules (even the arcane ones) and work with them, instead of crying the same old cry.
Or you could start your own bank. Or refuse to participate in the market economy. Good luck with that.
December 10, 2010 at 3:10 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Absolutely, my DH doesn’t much follow our spending.
2. Do you have the financial “last word” on spending in your family?
I would say yes but it is a joint decision.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes
6. Are you in charge of your family’s financial education?
na
7. Have you actually taken steps to educate your kids?
n/a too young
8. Do you consistently encourage your children to save money?
n/a too young
9. How do you prefer to get your financial information?
Online
Blogs
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Boring
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
maybe a 6
12. How old are you:
20-30
13. Do you have an advisor that you trust?
Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
10
15. Where to you live?
Canada
Hope that helps! Rowan
December 10, 2010 at 4:16 pm
1. Do you control the purse strings when it comes to making decisions about household spending? shared
2. Do you have the financial “last word” on spending in your family? shared
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 9
4. Have you set a financial goal in the last year? yes
5. Do you have a financial plan to achieve your goal? yes, with spreadheets and everything!
6. Are you in charge of your family’s financial education? n/a
7. Have you actually taken steps to educate your kids? n/a
8. Do you consistently encourage your children to save money? n/a
9. How do you prefer to get your financial information?
Online, Blogs, financial advisor
10. If you do not take advantage of “financial news” sources, why not? n/a
•Lack of interest in financial news
•Not relevant to my life
•Boring
•Too theoretical
•Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
12. How old are you:
•31-40
13. Do you have an advisor that you trust? yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 7
15. Where to you live?
•Alberta, Canada
December 10, 2010 at 4:16 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes, 50%.
2. Do you have the financial “last word” on spending in your family?
Yes.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
9
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes, but not the best one.
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
Yes
8. Do you consistently encourage your children to save money?
He’s 4.
9. How do you prefer to get your financial information?
Newspapers
Online
Blogs
10. If you do not take advantage of “financial news” sources, why not?
I do.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
31-40
13. Do you have an advisor that you trust?
nope!
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
15. Where to you live?
Canada
December 10, 2010 at 7:56 pm
Hi ladies…wish I responded yesterday, but better late than never. Here are my responses:
1. Do you control the purse strings when it comes to making decisions about household spending? I take care of the finances (he’s not comfortable doing them and I enjoy it), but I share all info with hubby.
2. Do you have the financial “last word” on spending in your family? I bring up the ideas/plans, but in the end it’s a shared decision.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) I guess 9, but I know more about what’s going on.
4. Have you set a financial goal in the last year? Kinda – want to do renos next year and keep slowly building emergency fund. Also, even though not expecting as yet, going to live as though we’re on mat. leave so prepared in advance.
5. Do you have a financial plan to achieve your goal? Kinda; will talk to lenders next week re: financing options for renos. Have drafted sample budgets for life on mat. leave.
6. Are you in charge of your family’s financial education? 100%
7. Have you actually taken steps to educate your kids? N/A, but would
8. Do you consistently encourage your children to save money? N/A, but would
9. How do you prefer to get your financial information?
• Online – YUP (great links found via this blog)
• Blogs – YUP (this one!)
10. If you do not take advantage of “financial news” sources, why not?
• Other: Although I’m proud of what I currently understand, I still just get the basics. I’m not investment-savvy like many on this blog.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) For general knowledge, 8. For investment strategies, 5.
12. How old are you:
• 41-50 (does it count that I feel 27?! haha)
13. Do you have an advisor that you trust? Nope, have never gone to one.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 5
15. Where to you live?
• Canada – GTA
RE: CIBC. I quit them many years ago for charging ridiculous fees. Know I’m greatly amused that I “use” them for free via PC Financial. Ahh, small victories!
December 10, 2010 at 10:24 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yup. It’s only me in the household!
2. Do you have the financial “last word” on spending in your family?
Yes.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
No partner, unless you count my cat, and she only gets input on cat chow decisions.
4. Have you set a financial goal in the last year?
Absolutely. I set them regularly for short, mid and long-term.
5. Do you have a financial plan to achieve your goal?
Yes.
6. Are you in charge of your family’s financial education?
Yes. I’m currently schooling my 18 year old female cousin so she doesn’t fall into the credit trap!
7. Have you actually taken steps to educate your kids?
My cousins and friends.
8. Do you consistently encourage your children to save money?
Cousins and friends, yes.
9. How do you prefer to get your financial information?
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
Blogs, mainly but occasionally online and newspapers too.
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
12. How old are you:
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
Almost 26.
13. Do you have an advisor that you trust?
For my RRSP, yes.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
9.
15. Where to you live?
* Canada
* U.S.
* Other
Canada! (Toronto)
December 11, 2010 at 1:57 am
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes
2. Do you have the financial “last word” on spending in your family?
Most of the time
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8, depending on the size of the decision
4. Have you set a financial goal in the last year?
yes
5. Do you have a financial plan to achieve your goal?
yes
6. Are you in charge of your family’s financial education?
yes, for th emost part
7. Have you actually taken steps to educate your kids?
yes, since they were little
8. Do you consistently encourage your children to save money?
Yes, and not to go into debt
9. How do you prefer to get your financial information?
Newspapers
TV
Online
Blogs
Other: (what?)
All of the above
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
N/A
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8, I feel confident about what I know, but I do not know everything
12. How old are you:
Under 20
20-30
31-40
41-50
51-60
Over 60
41-50
13. Do you have an advisor that you trust?
No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
4
15. Where to you live?
Canada
U.S.
Other
Canada
December 11, 2010 at 10:11 am
1. Do you control the purse strings when it comes to making decisions about household spending?
I drive the budget planning and tracking but we tend to be fairly equal about making decisions. Larger items we tend to check in first (ie. new clothes) but smaller items we don’t consult but do report.
2. Do you have the financial “last word” on spending in your family?
Again, I tend to drive it more but def my wife does get in her views and sometimes she can be better than me for reigning desire for impulse buys.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
8.5 I would say. We also have many years of trust built up so sometimes we don’t consult since we know where the other stands.
4. Have you set a financial goal in the last year?
Nothing truly new or detailed. We have our savings set up and they are growing and we are paying down the mortgage quite nicely. We did want to look into a trip but were looking to see if a great last-minute deal can be had. However, while we normally pay for that out of extra monies (ie. freelance), that is less stable so we are trying to be flexible based on what we have saved up vs. what is available for good price.
5. Do you have a financial plan to achieve your goal?
As I said, nothing concrete for the trip. If it does happen this spring though we aren’t devastated since we took trip of lifetime this past March. I would say though that if nothing happens this spring, we’ll be looking at saving up for the following year.
6. Are you in charge of your family’s financial education?
I would say that I am more naturally aware and interested in the topic but that we both have responsibility for it.
7. Have you actually taken steps to educate your kids?
N/A
8. Do you consistently encourage your children to save money?
N/A
9. How do you prefer to get your financial information?
* Newspapers – sometimes
* TV – sometimes
* Online – most of the time
* Blogs – good ones (like yours
* Other: – financial planning books
10. If you do not take advantage of “financial news” sources, why not?
N/A
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
Probably a 7.5
12. How old are you:
* 31-40
13. Do you have an advisor that you trust?
Well, since you don’t do housecalls
I check in with 2 family members – one a banker at one of the big banks and another an accountant. In the end though we manage together. I have spoken with financial planning staff at my bank but am def cognizant that they are biased to their products.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6-7…. have thought about actually getting a financial planner other than family members but trust is a big concern – it’s my money. It’s part of the reason I keep reading stuff myself.
15. Where to you live?
* Canada
December 11, 2010 at 12:04 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
As I am the only one in my household, I would hope so!!! I do not rely on others for help with money. However, I do appreciate the generocity of my parents for giving me their old car (which I pay for – I don’t expect hand-outs) and being lenient on payments.
2. Do you have the financial “last word” on spending in your family?
Yes. I know where I want to spend my money and how I will pay for it. I keep track of my purchases, and make sure not to put myself into debt.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
n/a
4. Have you set a financial goal in the last year?
Yes I have – I want to own my own business and have that as my full-time job within the next 3 years.
5. Do you have a financial plan to achieve your goal?
I admit that I vaguely have an idea of where I want to go, but I constantly check out blogs, consult others on their goals, and talk with my bank about how I can make this a reality.
6. Are you in charge of your family’s financial education?
Sure.
7. Have you actually taken steps to educate your kids?
n/a
8. Do you consistently encourage your children to save money?
n/a – I encourage my friends to.
9. How do you prefer to get your financial information?
TV
Online
Blogs
Other: Talking with my bank when needed.
10. If you do not take advantage of “financial news” sources, why not?
I find it does not explain it in a way that I understand – too technical.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I would say a 7. I manage my money very well, but I know I need to start saving more.
12. How old are you:
Under 20
13. Do you have an advisor that you trust?
My bank
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
8
15. Where to you live?
Canada
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December 11, 2010 at 12:59 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
I’m single, so yes.
2. Do you have the financial “last word” on spending in your family?
I guess you could say that.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
Maybe an 8? My boyfriend and I talk about money fairly frequently and have always been open and honest with each other. He knows how much debt I have and I know what most of his expenses are and how much he earns at work. We talk about common financial goals for the future, like travel and saving for a house.
4. Have you set a financial goal in the last year?
Yup.
5. Do you have a financial plan to achieve your goal?
I achieved those goals.
6. Are you in charge of your family’s financial education?
Yes. I try to educate myself and my roommates on saving but we’re all fairly financially savvy.
9. How do you prefer to get your financial information?
I read a lot of personal finance blogs but I love picking up a PF book. I’m currently reading Your Money or Your Life and The Millionaire Next Door. Dave Ramsey’s Total Money Makeover is what I read first.
10. If you do not take advantage of “financial news” sources, why not?
Too much bad news in the paper.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
I’d say about an 8/10.
12. How old are you:
* 20-30
13. Do you have an advisor that you trust?
I have a close friend who is really good with his money. Sometimes I will ask him for advice, but my finances are basic right now so I don’t really need a financial advisor.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7/10.
15. Where do you live?
Canada
December 11, 2010 at 4:54 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes, although I do discuss everything with my husband, he barely listens.
2. Do you have the financial “last word” on spending in your family?
Yes. Although my husband is not a shopper or a spender. I plan most of the household expenses from groceries to major renos.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
9, except for minor expenses.
4. Have you set a financial goal in the last year?
Yes, save for a 5 week european vacation next year.
5. Do you have a financial plan to achieve your goal?
Yes- a detailed one
6. Are you in charge of your family’s financial education?
Yes
7. Have you actually taken steps to educate your kids?
Absolutely. My daughter is graduating university next year. She lives away from home and has self financed her entire univeristy education (no loans) no help from mom & dad. She actually has close to $10000 in savings. And no, she doesn’t still live at home.
8. Do you consistently encourage your children to save money?
From her very first paycheque.
9. How do you prefer to get your financial information?
Online & blogs
10. If you do not take advantage of “financial news” sources, why not? n/a
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
6 – I know I have to spend less than I earn
12. How old are you: 41-50
13. Do you have an advisor that you trust? No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
2
15. Where to you live? Canada
December 11, 2010 at 8:18 pm
1. You bet. I am the finance person at our house!
2. Yes, but neither of us would ever make a major financial decision (even an expenditure of $100) without consulting the other.
3. 10
4. Yes. And we surpassed it!!
5. A general one, and it worked.
6. I will be. My kids are currently 22 months and 3 months.
7. They’re a toddler and a newborn, so none yet.
8. We will when they are old enough. In the meantime, we are saving for them.
9. * Newspapers (financial data only)
* Online
* Blogs
* Other: magazines, books, my advisor
10. n/a
11. 8
12. How old are you:
* 31-40
13. Yes. We love him; we’re really lucky
14. 9
15. Canada
December 12, 2010 at 12:06 am
1-We discuss, but in the end, yes, I do (I am the more rational and practical)
2-see 1
3-10
4-yes
5-yes
6-yes
7-na
8-na
10-online, and gail’s site/blog
11-7
12-20-30
13-no
14-7
15-Canada
December 12, 2010 at 12:48 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes
2. Do you have the financial “last word” on spending in your family?
Yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
All the time – 10
4. Have you set a financial goal in the last year? yes – paying down student loans
5. Do you have a financial plan to achieve your goal? yes – budget!
6. Are you in charge of your family’s financial education? yes
7. Have you actually taken steps to educate your kids? n/a
8. Do you consistently encourage your children to save money? n/a
9. How do you prefer to get your financial information?
•Blogs
10. If you do not take advantage of “financial news” sources, why not?
n/a
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
20-30
13. Do you have an advisor that you trust? yes – sort of trust
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
15. Where to you live?
•Canada
December 12, 2010 at 4:55 pm
1. Do you control the purse strings when it comes to making decisions about household spending? Yes
2. Do you have the financial “last word” on spending in your family? Its a joint decision.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) 10
4. Have you set a financial goal in the last year? Yes
5. Do you have a financial plan to achieve your goal? Yes
6. Are you in charge of your family’s financial education? Yes
7. Have you actually taken steps to educate your kids? Yes
8. Do you consistently encourage your children to save money? Yes
9. How do you prefer to get your financial information?
Online
10. If you do not take advantage of “financial news” sources, why not?
I take advantage of as many financial news sources that I can find.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 8
12. How old are you:
41-50
13. Do you have an advisor that you trust? Several, I like to get as many opinions as possible, before making my final decision.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) 8
15. Where to you live?
Canada
December 12, 2010 at 7:15 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
No, it’s about 50/50.
2. Do you have the financial “last word” on spending in your family?
No, if a “last word” has to be given, it’s more likely to be my husband. But that doesn’t seem to occur much. He does all our record-keeping, so it’s more that I would check with him to see how $$ is going, then we’d decide jointly.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
About 6 — I consult about big things, but not my own shopping, spending on hobbies, etc. For the most part I’m the skinflint, so we both know I’m not likely to put us in danger.
4. Have you set a financial goal in the last year? Yes, to deal more with retirement issues.
5. Do you have a financial plan to achieve your goal? There is some minor automatic investing going on, but a real honest-to-goodness plan needs to be made.
6. Are you in charge of your family’s financial education? n/a
7. Have you actually taken steps to educate your kids? n/a
8. Do you consistently encourage your children to save money? n/a
9. How do you prefer to get your financial information? online, blogs, G V-O!
Newspapers
TV
Online
Blogs
Other: (what?)
10. If you do not take advantage of “financial news” sources, why not? Most of the time I find I don’t know the ‘language’ and the info goes over my head — which is silly, because I’m extremely knowledgeable in other areas and have taught myself many things in life. I think it’s also a bit scary, and (again, this sounds idiotic) there’s a bit of ‘ignorance is bliss’ going on… that someone else will figure it out for me. God am I embarrassed to write this. But you know what I mean.
Lack of interest in financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) OK, especially considering the above answer, I think about 4. Pretty good with the day-to-day, managing household $, but dumb about long-term retirement stuff.
12. How old are you: 41-50
Under 20
20-30
31-40
41-50
51-60
Over 60
13. Do you have an advisor that you trust? Not really.
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) About 5?
15. Where to you live? Canada
December 13, 2010 at 12:37 am
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes (single)
2. Do you have the financial “last word” on spending in your family?
Yes (single)
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
n/a
4. Have you set a financial goal in the last year?
Yes
5. Do you have a financial plan to achieve your goal?
Yes, but I don’t always stick to it
6. Are you in charge of your family’s financial education?
Yes (and by my family, I mean myself)
7. Have you actually taken steps to educate your kids?
N/a (no kids)
8. Do you consistently encourage your children to save money?
N/a
9. How do you prefer to get your financial information? Online and Blogs
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
10. If you do not take advantage of “financial news” sources, why not? I take advantage of online financial news sources.
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) 9
12. How old are you: 20-30
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
13. Do you have an advisor that you trust? Yes.
14. How confident do you feel that you know who to turn to for financial advice? 9 (rank out of ten, ten being extremely confident, 1 being not at all confident)
15. Where to you live? US
* Canada
* U.S.
* Other
December 13, 2010 at 1:12 am
1. Do you control the purse strings when it comes to making decisions about household spending?
No it’s mutual between myself and my husband.
2. Do you have the financial “last word” on spending in your family?
No, my husband and I decide on spending together.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
10 on items over $200.
4. Have you set a financial goal in the last year?
Yes, to pay off our mortgage in 3 years.
5. Do you have a financial plan to achieve your goal?
Yes.
6. Are you in charge of your family’s financial education?
I encourage it.
7. Have you actually taken steps to educate your your kids?
No, too young (2 years).
8. Do you consistently encourage your children to save money?
Not yet but I save money for him.
9. How do you prefer to get your financial information?
Newspapers
TV
Online
Blogs
Other: (what?)
Newspaper, TV, online, blogs.
10. If you do not take advantage of “financial news” sources, why not?
Lack of interest in financial news
Not relevant to my lifein financial news
Not relevant to my life
Boring
Too theoretical
Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7
12. How old are you:
Under 20
20-30
31-40
41-50
51-60
Over 60
31
13. Do you have an advisor that you trust?
Yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
5
15. Where to you live?
Canada
U.S.
Other
Canada
————
December 14, 2010 at 1:15 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
Yes, it is just me on my own.
2. Do you have the financial “last word” on spending in your family?
I do, I have the only word.
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
I am a single girl, but on the bigger purchases I consult my parents, about 2 out of 10 would be my rank.
4. Have you set a financial goal in the last year?
Yes I have
5. Do you have a financial plan to achieve your goal?
Yes I do, I have a budget, and savings goals
6. Are you in charge of your family’s financial education?
I am, but I learned it from my parents (and the hard way…)
7. Have you actually taken steps to educate your kids?
n/a
8. Do you consistently encourage your children to save money?
n/a ( but i encourage my friends)
9. How do you prefer to get your financial information?
TV
Online
10. If you do not take advantage of “financial news” sources, why not?
Too theoretical
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
7- I know mostly what I am doing, but nothing fancy.
12. How old are you:
20-30
13. Do you have an advisor that you trust?
No
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
3
15. Where to you live?
Canada
December 14, 2010 at 1:48 pm
1. Do you control the purse strings when it comes to making decisions about household spending? yes
2. Do you have the financial “last word” on spending in your family? -yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never) – 9
4. Have you set a financial goal in the last year? – yes
5. Do you have a financial plan to achieve your goal? -yes
6. Are you in charge of your family’s financial education? -yes
7. Have you actually taken steps to educate your kids? -n/a
8. Do you consistently encourage your children to save money? -n/a
9. How do you prefer to get your financial information? – all including friends/family
* Newspapers
* TV
* Online
* Blogs
* Other: (what?)
10. If you do not take advantage of “financial news” sources, why not?
* Lack of interest in financial news
* Not relevant to my life
* Boring
* Too theoretical
* Other: (what?)
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident) -8
12. How old are you: 26
* Under 20
* 20-30
* 31-40
* 41-50
* 51-60
* Over 60
13. Do you have an advisor that you trust? – myself
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident) – 9
15. Where to you live? – Canada – ontario
* Canada
* U.S.
* Other
December 18, 2010 at 9:34 pm
1. Do you control the purse strings when it comes to making decisions about household spending?
yes
2. Do you have the financial “last word” on spending in your family?
yes
3. How often do you consult your partner before making fiscal decisions? (rank out of ten, ten being all the time, 1 being never)
5
4. Have you set a financial goal in the last year?
yes – to reduce debt and create emergency savings
5. Do you have a financial plan to achieve your goal?
Yes & no, I have automatic savings for emergencies and I’m trying to not increase our debt and slowily pay it down as DH is presently unemployed.
6. Are you in charge of your family’s financial education?
yes
7. Have you actually taken steps to educate your kids?
yes, I am encouragng my son to save and plan his spending. Tough, but he’s 5.
8. Do you consistently encourage your children to save money?
yes
9. How do you prefer to get your financial information?
Online.
10. If you do not take advantage of “financial news” sources, why not?
•Other: (what?)
It comes down to time. after working all day, commuting, housework, children etc, I only have so much time to devote to it.
11. How confident are you in your financial know-how? (rank out of ten, ten being extremely confident, 1 being not at all confident)
9./10
12. How old are you:
31-40
13. Do you have an advisor that you trust?
yes
14. How confident do you feel that you know who to turn to for financial advice? (rank out of ten, ten being extremely confident, 1 being not at all confident)
10
15. Where to you live?
•Canada
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