Federal Reserve's Survey of Consumer Finances Dataset

Author: Noah Gomez
Created: 1 July 2023
Published: 26 December 2023
Updated: 28 December 2023

Status: Active

Active - Continually Updated


Dataset Metadata

Product Concerned: Consumer Financial Products
File Type: Created in Microsoft Excel, Hosted Privately
Availability Status: Public
Mother Catelog: Public Datasets
Mother Catelog Description: A collection of datasets acquired, processed, refined, and analyzed by Thick Credit.

Date Updated

28 December 2023


Description

This data table hosts commercial data of over 320 consumer metrics. It is a public dataset used to identify, rank, and tailor the best offers to consumers in ThickCredit's product and content.

Sample (Image)

Similar Datasets

This dataset is similar to but not the same as:

  • the credit builder card dataset,
  • the rent reporting services dataset,
  • the credit builder loan dataset,
  • the secured credit card dataset,
  • the savings-secured loan dataset,
  • the credit union call report data,
  • the cardholder agreement dataset,
  • the household debt dataset, and
  • the consumer credit dataset.

Data Fields in Table

  • ACTBUS. Total value of actively managed business(es).
  • AGE. Age of reference person.
  • AGECL. Age group of the reference person.
  • ANNUIT. Amount R would receive if they cashed in annuities.
  • ANYPEN. Pension exists for either reference person or spouse.
  • ASSET. Total value of assets held by household.
  • ASSETCAT. Asset percentile groups.
  • BCALL. Information used for borrowing decisions: call around.
  • BDONT. Information used for borrowing decisions: never borrow.
  • BFINPLAN. Information used for borrowing decisions: lawyer, accountant, financial planner.
  • BFINPRO. Information used for borrowing decisions: banker, broker, real estate broker, builder, dealer, insurance agent.
  • BFRIENDWORK. Information used for borrowing decisions: friends, material from work/business contacts.
  • BINTERNET. Information used for borrowing decisions: internet/online service.
  • BMAGZNEWS. Information used for borrowing decisions: magazines, newspapers, books.
  • BMAILADTV. Information used for borrowing decisions: material in mail, tv, radio, advertisements, telemarketer.
  • BNKRUPLAST5. Household has declared bankruptcy in the past 5 years.
  • BNPL. Amount owed for Buy Now, Pay Later programs.
  • BOND. Total value of directly held bonds held by household.
  • BOTHER. Information used for borrowing decisions: other sources.
  • BPLANCJ. Either reference person or spouse/partner has both types of pension plan on a current job.
  • BSELF. Information used for borrowing decisions: self, shop around, other personal research.
  • BSHOPGRDL. Shopping for borrowing and credit: great deal of shopping.
  • BSHOPMODR. Shopping for borrowing and credit: moderate shopping.
  • BSHOPNONE. Shopping for borrowing and credit: almost no shopping.
  • BUS. Total value of business(es) in which the household has either an active or nonactive interest.
  • BUSSEFARMINC. Income from business, sole proprietorship, and farm.
  • BUSVEH. Household has vehicle(s) owned by business.
  • CALL. Total value of call accounts held by household.
  • CANTMANG. Why no checking account: can't manage/balance a checking account.
  • CASEID. Case ID (numeric).
  • CASHLI. Total cash value of whole life insurance held by household.
  • CCBAL. Total value of credit card balances held by household.
  • CDS. Total value of certificates of deposit held by household.
  • CHECKING. Total value of checking accounts held by household.
  • CKCONNECTN. Why chose main checking account institution: connection through work/school.
  • CKCONVPAYRL. Why chose main checking account institution: other convenience, payroll deduction/direct deposit.
  • CKLOCATION. Why chose main checking account institution: location of their offices.
  • CKLONGTIME. Why chose main checking account institution: always done business there, banked there a long time.
  • CKLOWFEEBAL. Why chose main checking account institution: had the lowest fees/minimum balance requirement.
  • CKMANYSVCS. Why chose main checking account institution: able to obtain many services at one place.
  • CKOTHCHOOSE. Why chose main checking account institution: other reason.
  • CKPERSONAL. Why chose main checking account institution: personal relationship.
  • CKRECOMFRND. Why chose main checking account institution: recommended, friend/family has account there.
  • CKSAFETY. Why chose main checking account institution: offered safety and absence of risk.
  • COMUTF. amount in combination and other mutual funds.
  • CONSPAY. total monthly consumer debt payments.
  • CPI_DEFL. Deflator Value.
  • CREDIT. Why no checking account: credit problems, bankruptcy, does not meet qualifications for an account.
  • CURRPEN. Current value in pension.
  • DBPLANCJ. Either reference person or spouse/partner has a defined benefit pension on a current job.
  • DBPLANT. Either reference person or spouse/partner has DB plan on current job or some type of pension from a past job to be received in the future.
  • DCPLANCJ. Either reference person or spouse/partner has any type of account-based plan on a current job.
  • DEBT. Total value of debt held by household.
  • DEBT2INC. Ratio of total debt to total income.
  • DEQ. Total value of equity in directly held stocks, stock mutual funds, and combination mutual funds held by household.
  • DONTLIKE. Why no checking account: don't like dealing with banks.
  • DONTWANT. Why no checking account: does not want/need a checking account.
  • DONTWRIT. Why no checking account: don't write enough checks to make it worthwhile.
  • EDCL. Education category of reference person.
  • EDN_INST. Total value of education loans held by household.
  • EDUC. Highest completed grade by reference person.
  • EHCHKG. people w/o checking accounts: ever had an account?
  • EMERGBORR. Respondent would borrow money in a hypothetical financial emergency.
  • EMERGCUT. Respondent would cut back spending in a hypothetical financial emergency.
  • EMERGPSTP. Respondent would postpone payments in a hypothetical financial emergency.
  • EMERGSAV. Respondent would spend out of savings in a hypothetical financial emergency.
  • EQUITINC. ratio of equity to normal income.
  • EQUITY. Total value of financial assets held by household that are invested in stock.
  • EXPENSHILO. Households overall expenses over last 12 months.
  • FAMSTRUCT. Family structure of household.
  • FARMBUS. compute value of business part of farm net of outstanding mortgages.
  • FARMBUS_KG. Capital gains on farm businesses.
  • FEARDENIAL. Household feared being denied credit in the past 5 years.
  • FIN. Total value of financial assets held by household.
  • FINLIT. Number of financial literacy questions answered correctly.
  • FOODAWAY. Total amount spent on food away from home, annualized.
  • FOODDELV. Total amount spent on food delivered to home, annualized.
  • FOODHOME. Total amount spent on food at home, annualized.
  • FORECLLAST5. Respondent had a foreclosure in the last five years.
  • FUTPEN. Future pensions (accumulated in an account for the R/S).
  • GBMUTF. Amount in government bond mutual funds.
  • GOVTBND. US government and government agency bonds and bills.
  • HBORRALT. Respondent would borrow money from alternative sources in a hypothetical financial emergency.
  • HBORRCC. Respondent would borrow money using a credit card in a hypothetical financial emergency.
  • HBORRFF. Respondent would borrow money from friends or family in a hypothetical financial emergency.
  • HBORRFIN. Respondent would borrow money from financial services in a hypothetical financial emergency.
  • HBROK. Have a brokerage account.
  • HBUS. Have active or nonactively managed business(es).
  • HCUTENT. Respondent would postpone payments for entertainment in a hypothetical financial emergency.
  • HCUTFOOD. Respondent would cut back on food purchases in a hypothetical financial emergency.
  • HCUTOTH. Respondent would postpone other payments in a hypothetical financial emergency.
  • HDEBT. Household has any debt.
  • HELOC. Total value of home equity lines of credit secured by the primary residence held by the household.
  • HELOC_YN. Currently borrowing on home equity line of credit.
  • HHSEX. Gender of household reference person.
  • HLIQ. Household has any checking, savings, money market or call accounts.
  • HMORT2. Have junior lien mortgage not used for purchase of primary residence.
  • HOMEEQ. Total value of equity in primary residence of household.
  • HOUSECL. Home-ownership category of household.
  • HOUSES. Total value of primary residence of household.
  • HPAYDAY. Household had a payday loan within the past year.
  • HPRIM_MORT. Have first lien mortgage on primary residence.
  • HPSTPLN. Respondent would postpone payments on loans in a hypothetical financial emergency.
  • HPSTPOTH. Respondent would postpone other payments in a hypothetical financial emergency.
  • HPSTPPAY. Respondent would postpone payments for purchases in a hypothetical financial emergency.
  • HSAVFIN. Respondent would spend out of financial sources in a hypothetical financial emergency.
  • HSAVNFIN. Respondent would spend out of non-financial sources in a hypothetical financial emergency.
  • HSEC_MORT. Have junior lien mortgage on primary residence.
  • HSTOCKS. Have stocks?
  • HTRAD. traded in the past year.
  • ICALL. Information used for investing decisions: call around.
  • IDONT. Information used for investing decisions: never borrow.
  • IFINPLAN. Information used for investing decisions: lawyer, accountant, financial planner.
  • IFINPRO. Information used for investing decisions: banker, broker, real estate broker, builder, dealer, insurance agent.
  • IFRIENDWORK. Information used for investing decisions: friends, material from work/business contacts.
  • IINTERNET. Information used for investing decisions: internet/online service.
  • IMAGZNEWS. Information used for investing decisions: magazines, newspapers, books.
  • IMAILADTV. Information used for investing decisions: material in mail, tv, radio, advertisements, telemarketer.
  • INCCAT. Income percentile groups.
  • INCOME. Total amount of income of household.
  • INCPCTLECAT. Alternate income percentile groups.
  • INCQRTCAT. Income quartile groups.
  • INDCAT. Industry classifications for reference person.
  • INSTALL. Total value of installment loans held by household.
  • INTDIVINC. Interest (taxable and nontaxable) and dividend income.
  • INTERNET. Do business with financial institution via the Internet.
  • IOTHER. Information used for investing decisions: other sources.
  • IRAKH. Total value of IRA/Keogh accounts.
  • ISELF. Information used for investing decisions: self, shop around, other personal research.
  • ISHOPGRDL. Shopping for saving and investments: great deal of shopping.
  • ISHOPMODR. Shopping for saving and investments: moderate shopping.
  • ISHOPNONE. Shopping for saving and investments: almost no shopping.
  • KGBUS. Unrealized capital gains or losses on businesses.
  • KGHOUSE. Unrealized capital gains or losses on the primary residence.
  • KGINC. Capital gain or loss income.
  • KGORE. Unrealized capital gains or losses on other real estate.
  • KGSTMF. Unrealized capital gains or losses on stocks and mutual funds.
  • KGTOTAL. Total unrealized capital gains or losses for the household.
  • KIDS. Total number of children in household.
  • KNOWL. Respondent's knowledge of personal finances.
  • LATE. Household had any late debt payments in last year.
  • LATE60. Household had any debt payments more than 60 days past due in last year.
  • LEASE. Have leased vehicle?
  • LEVRATIO. Ratio of total debt to total assets.
  • LF. Labor force participation of reference person.
  • LIFECL. Life cycle of reference person.
  • LIQ. Total value of all types of transactions accounts.
  • LLOAN1. Total balance of household loans where the lender is a commercial bank.
  • LLOAN10. Total balance of household loans where the lender is a store and/or a credit card.
  • LLOAN11. Total balance of household loans where the lender is a pension.
  • LLOAN12. Total balance of household loans where the lender is other, unclassifiable, or foreign.
  • LLOAN2. Total balance of household loans where the lender is saving and loan.
  • LLOAN3. Total balance of household loans where the lender is credit union.
  • LLOAN4. Total balance of household loans where the lender is finance, loan or leasing company, or inc debt consolidator.
  • LLOAN5. Total balance of household loans where the lender is a brokerage and/or life insurancer.
  • LLOAN6. Total balance of household loans where the lender is a real estate company.
  • LLOAN7. Total balance of household loans where the lender is an individual.
  • LLOAN8. Total balance of household loans where the lender is an other nonfinancial.
  • LLOAN9. Total balance of household loans where the lender is government.
  • MARRIED. Marital status of reference person.
  • MINBAL. Why no checking account: minimum balance is too high.
  • MMA. Total value of money market deposit and money market mutual fund accounts.
  • MMDA. Money maket deposit accounts.
  • MMMF. Money market mutual funds.
  • MORT1. Amount owed on mortgage 1.
  • MORT2. Amount owed on mortgage 2.
  • MORT3. Amount owed on mortgage 3.
  • MORTBND. Mortgage-backed bonds.
  • MORTPAY. Total monthly mortgage payments.
  • MRTHEL. Total value of debt seucred by the primary residence held by household.
  • NBUSVEH. Total number of business vehicles held by household.
  • NETWORTH. Total net worth of household.
  • NEWCAR1. Number of car/truck/SUV with model year no older than two years before the survey.
  • NEWCAR2. Number of car/truck/SUV with model year no older than one year before the survey.
  • NFIN. Total value of nonfinancial assets held by household.
  • NH_MORT. Total value of mortgages and home equity loans secured by the primary residence held by household.
  • NHNFIN. Total nonfinancial assets excluding principal residences.
  • NINCCAT. Normal income percentile groups.
  • NINCPCTLECAT. Alternate Normal income percentile groups.
  • NINCQRTCAT. Normal income quartile groups.
  • NLEASE. Number of leased vehicles.
  • NMMF. Total value of directly held pooled investment funds held by household.
  • NNRESRE. Total value of net equity in nonresidential real estate held by household.
  • NOBNPL. Respondent does not use Buy Now, Pay Later.
  • NOCCBAL. Household does not carry a balance on credit cards.
  • NOCHK. Household has no checking account.
  • NOFINRISK. Respondent not willing to take financial risk.
  • NOMONEY. Why no checking account: don't have (enough) money.
  • NONACTBUS. Value of non-actively managed business(es).
  • NORMINC. Household normal income.
  • NOTXBND. tax-exempt bonds (state and local bonds).
  • NOWN. number of owned vehicles.
  • NSTOCKS. number different companies in which hold stock.
  • NTRAD. Number of trades per year.
  • NVEHIC. Total number of vehicles (owned and leased).
  • NWCAT. Net worth percentile groups.
  • NWPCTLECAT. Alternate net worth percentile groups.
  • OBMUTF. amount in other bond mutual funds.
  • OBND. corporate and foreign bonds.
  • OCCAT1. Occupation categories for reference person.
  • OCCAT2. Occupation classification for reference person.
  • ODEBT. Total value of other debts held by household.
  • OMUTF. amount in other mutual funds.
  • ORESRE. Total value of other residential real estate held by household.
  • OTHER. Why no checking account: other.
  • OTHFIN. Total value of other financial assets.
  • OTHLOC. Total value of other lines of credit held by household.
  • OTHMA. Total value of other managed assets held by household.
  • OTHNFIN. Total value of other nonfinancial assets held by household.
  • OWN. have an owned vehicle.
  • PAYEDU1. payments on first education loan.
  • PAYEDU2. payments on second education loan.
  • PAYEDU3. payments on third education loan.
  • PAYEDU4. payments on fourth education loan.
  • PAYEDU5. payments on fifth education loan.
  • PAYEDU7. payments on seventh education loan.
  • PAYHI1. payments on first home improvement loan.
  • PAYHI2. payments on second home improvement loan.
  • PAYILN1. payments on first installment loan.
  • PAYILN2. payments on second installment loan.
  • PAYILN3. payments on third installment loan.
  • PAYILN4. payments on fourth installment loan.
  • PAYILN5. payments on fifth installment loan.
  • PAYILN6. payments on sixth installment loan.
  • PAYILN7. payments on seventh installment loan.
  • PAYINS. payments on loans against insurance policies.
  • PAYLC1. payments on first land contract.
  • PAYLC2. payments on second land contract.
  • PAYLCO. payments on other land contracts.
  • PAYLOC1. payments on first line of credit.
  • PAYLOC2. payments on second line of credit.
  • PAYLOC3. payments on third line of credit.
  • PAYLOCO. payments on other lines of credit.
  • PAYMARG. payments on margin loans.
  • PAYMORT1. payments on first mortgage.
  • PAYMORT2. payments on second mortgage.
  • PAYMORT3. payments on third mortgage.
  • PAYMORTO. payments on other loans.
  • PAYORE1. payments on first other resdential property.
  • PAYORE2. payments on second other resdential property.
  • PAYORE3. payments on third other resdential property.
  • PAYOREV. payments on remaining other resdential properties.
  • PAYPEN1. payments on loan against first pension plan not previously reported.
  • PAYPEN2. payments on loan against second pension plan not previously reported.
  • PAYPEN3. payments on loan against third pension plan not previously reported.
  • PAYPEN4. payments on loan against fourth pension plan not previously reported.
  • PAYPEN5. payments on loan against fifth pension plan not previously reported.
  • PAYPEN6. payments on loan against sixth pension plan not previously reported.
  • PAYVEH1. payments on first vehicle.
  • PAYVEH2. payments on second vehicle.
  • PAYVEH3. payments on third vehicle.
  • PAYVEH4. payments on fourth vehicle.
  • PAYVEHM. payments on remaining vehicles.
  • PAYVEO1. payment on first other vehicle.
  • PAYVEO2. payment on second other vehicle.
  • PAYVEOM. payment on remaining other vehicles.
  • PENACCTWD. Withdrawals from IRAs and tax-deferred pension accounts.
  • PIR40. Household has a PIR higher than 40%.
  • PIRCONS. ratio of monthly non-mortgage non-revolving consumer debt payments to monthly income.
  • PIRMORT. ratio of monthly mortgage payments to monthly income.
  • PIRREV. ratio of monthly revolving debt payments to monthly income.
  • PIRTOTAL. Ratio of monthly debt payments to monthly income.
  • PLOAN1. Total value of aggregate loan balance by loan purpose: home purchase, cottage, vacation property.
  • PLOAN2. Total value of aggregate loan balance by loan purpose: home improvement.
  • PLOAN3. Total value of aggregate loan balance by loan purpose: vehicles.
  • PLOAN4. Total value of aggregate loan balance by loan purpose: goods and services.
  • PLOAN5. Total value of aggregate loan balance by loan purpose: investments and mortgage loans for other real estate.
  • PLOAN6. Total value of aggregate loan balance by loan purpose: education and professional expenses.
  • PLOAN7. Total value of aggregate loan balance by loan purpose: other unclassifiable loans.
  • PLOAN8. Total value of aggregate loan balance by loan purpose: not used in public data.
  • PREPAID. Amount in prepaid card accounts.
  • PURCH1. First lien on primary residence used for purchase of primary residence.
  • PURCH2. Junior lien on primary residence used for purchase of primary residence
  • RACE. Race/ethnicity of respondent.
  • RACECL. Class of race of respondent.
  • RACECL4. Alternate class of race of respondent.
  • RACECL5. Alternate class of race of respondent.
  • REFIN_EVER. Refinanced first lien mortgage on primary residence.
  • RENT. Monthly rent.
  • RESDBT. Total value of debt for other residential property held by households.
  • RETEQ. Total value of equity in quasi-liquid retirement assets.
  • RETQLIQ. Total value of quasi-liquid held by household.
  • REVPAY. Total monthly revolving debt payments.
  • SAVBND. Total value of savings bonds held by household.
  • SAVED. Indicator of whether the household saved over the past 12 months.
  • SAVING. Total value of savings accounts held by household.
  • SAVRES1. Reason for saving: can't save.
  • SAVRES2. Reason for saving: education.
  • SAVRES3. Reason for saving: family.
  • SAVRES4. Reason for saving: home.
  • SAVRES5. Reason for saving: purchases.
  • SAVRES6. Reason for saving: retirement.
  • SAVRES7. Reason for saving: liquidity/the future.
  • SAVRES8. Reason for saving: investment.
  • SAVRES9. Reason for saving: no particular reason.
  • SPENDLESS. R would spend less if assets depreciated in value.
  • SPENDMOR. R would spend more if assets appreciated in value.
  • SSRETINC. Social security and pension income.
  • SSRETINC. Social security and pension income.
  • STOCKS. Total value of directly held stocks held by household.
  • SVCCHG. Why no checking account: service changes are too high.
  • TFBMUTF. amount in tax-free bond mutual funds.
  • THRIFT. Total value of account-type pension plans from R and spouse's current job.
  • TPAY. Total value of monthly debt payments.
  • TRANSFOTHINC. Unemployment, alimony/child support, TANF/food stamps/SSI, and other income.
  • TRUSTS. Amount R would receive if they cashed in trusts.
  • TURNDOWN. Household has been turned down for credit in the past 5 years.
  • TURNFEAR. Household has been turned down for credit or feared being denied credit in the past 5 years.
  • VEH_INST. Total value of vehicle loans held by household.
  • VEHIC. Total value of all vehicles held by household.
  • VLEASE. Total value of leased vehicles held by household.
  • WAGEINC. Wage and salary income.
  • WGT. Sample weight.
  • WHYNOCKG. Reason household does not have a checking account.
  • WILSH. Wilshire index of stock prices.
  • WSAVED. spent more/same/less than income in past year.
  • X1. Case ID with implicate number.
  • XX1. Case ID.
  • Y1. Case ID with implicate number.
  • YEAR. Survey Year.
  • YESFINRISK. Respondent willing to take financial risk.
  • YY1. Case ID.

Data Quality & Validation

Relevance

Data is chosen and collected with consumer borrowers in mind. Data fields are limited to metrics that inform decision-making and risk-mitigation, as well as contact information. Most of the raw data must be analyzed by Thick Credit to drive insights, except for simple fields such as name and purchases.

Collection

All data is continually collected from the Federal Reserve by human agents. The process can involve manually extracting data from PDFs and other nontransferable files.

Accuracy

Accuracy is reinforced by dual-authentication and continual updating of evolutionary figures, such as interest rates that may evolve over time.

Completeness

The data is collected from a data processing software called SDA in aggregate form and is completed using techniques such as multiple imputation technique.

Recency

The data is updated continually to include new data as it’s made available from the Board of Governors of the Federal Reserve System.

Cleaning

In some cases, cleaning includes the conversion of PDFs or other non-tabular files into spreadsheets for analysis.

Privacy

The dataset is hosted natively offline and on hard drives inaccessible via internet channels.

Validation

Outliers do not impact raw data, only analysis. We use a conservative framework that eliminates outliers with a material impact on analytical metrics helpful to consumers.

There are no aggregation weaknesses in the dataset as of publishing. We adjust all calculations to present the most accurate reality to consumers.

About the Author

Noah Gomez (founder of Thick Credit) is a transatlantic professional and entrepreneur with 3+ years experience in consumer finance education. He also has 5+ years of experience in corporate finance, including debt financing, M&A, listing preparation, US GAAP and IFRS.

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