Podcasts are a convenient way for savers to boost their personal finance knowledge.
You need to understand what a survey is. Here’s what to know.
What is a survey?
Surveys are methods of gathering information from individuals. In the world of statistics, most surveys are volunteer samples, meaning that they are presented at random to individuals, and those individuals can decide whether they would like to participate.
A survey also is a precise measurement of a parcel’s dimensions, its relation to landmarks, and the location and dimensions of improvement. In this story, we are defining the former — a survey as in polling.
Surveys can be delivered through multiple mediums, including over the Internet, by printed questionnaires, over the telephone, by mail and in person.
Surveys have their positives. They are easy to administer, quickly developed and cost-effective. They can be delivered via multiple mediums, and they can collect data from a large number of respondents. If you’re in need of sample information quickly, surveys are very viable options.
Standardized surveys in particular are relatively free from errors that plague other types of surveys, such as customized surveys. This reduces the margin of error (although the margin is still present) and provides accurate reliable data.
Still, many people do not like being randomly telephoned or summoned to participate in a survey. It’s likely that some respondents may not feel the need to provide honest and accurate answers. Others may not want to provide answers that place them in an unfavorable manner.
Surveys with close-ended questions suffer from a lack of validity, and the possibility of data errors due to non-responses is very possible.
Bankrate compiles a monthly survey on how Americans feel about their personal finances called the Financial Security Index. In March, the survey found that Americans feel more comfortable with their savings than feel uncomfortable.
But the survey also found that 1 in 6 people said they don’t save more money because they “haven’t gotten around to it.” And 2 in 5 said they don’t save more because they “have a lot of expenses.”
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