Question on individual saving
Dear Support Team,
I am using the US wave 4 to analyze households' saving decisions. I am looking at the questions d_save and d_saved. The question d_save is:
Do you save any amount of your income for example by putting something away now and then in a bank, building society, or Post Office account other than to meet regular bills? Please include share purchase schemes ISA's and Tessa accounts.
Is there a way to know whether "regular bills" was specified in any way - in particular to include mortgage payments? In other words, I would like to know whether the reported savings include mortgage payments or not. Secondly is there any more detailed description of the d_saved variable - in particular to learn whether it includes payments into personal pension funds?
Thank you very much for your help with these questions.
#1 Updated by Stephanie Auty over 2 years ago
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Many thanks for your enquiry. The Understanding Society team is looking into it and we will get back to you as soon as we can.
Stephanie Auty - Understanding Society User Support Officer
#2 Updated by Stephanie Auty over 2 years ago
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The question aims to exclude mortgage payments. Mortgage payments wouldn’t usually be considered as saving (more like paying down debt) and the question asks for saving. Questions about mortgage payments are asked in the household part of the questionnaire and answered by an adult ‘head of household’ or bill payer. A question about pensions comes later in the questionnaire.
You can read the full questionnaire for wave 4 at https://www.understandingsociety.ac.uk/documentation/mainstage/questionnaire/questionnaire-documents/mainstage/wave-4/Wave_4_Questionnaire_Consultation_v03_2.pdf?q=9529344b4db9f6eec517f61e415418d8c6c7ac24
This will allow you to see the wording and also the flow of questions, showing what the respondent had already been asked at that point in the questionnaire.
Stephanie – Understanding Society User Support Officer