Title: Collecting Household Financial Data Online: A Comparison of the Financial Well-being and Literacy Survey with Federal Data Benchmarks
Wednesday, November 15th, 2017
This paper provides a comparison on the Financial Well-being and Literacy survey, collected using a probability-based, nationally representative panel, with data from several large, federal data sources, including the Survey of Consumer Finances and the Survey of Income and Program Participation. Results indicate data collected from a nationally representative panel are generally consistent with federal data benchmarks. These findings suggest potential solutions to the challenges related to time-in-field and cost when using in-person, mail, or telephone surveys, and the sample issues related to the use of opt-in panels.