ERIC Number: ED152675
Record Type: RIE
Publication Date: 1975
Reference Count: 0
A Study of the American Family and Money. The General Mills American Family Report 1974-75.
General Mills, Inc., Minneapolis, Minn.; Yankelovich, Skelly and White, Inc., New York, NY.
The report provides statistical information on the immediate and long-term impact of money and economics on American life in 1975. Included are data concerning the impact of money on family structure, intra-family relationships, values, money management, health, and life-style. Statistics are based on 2,194 interviews, including interviews with second family members in 947 of the households surveyed. Although a majority report they are no further in debt than a year ago, over half are worried about their future financial security. Family consensus on money matters seems to break down only in families which try to shield children from money worries. Half of the families believe that the government has the obligation to provide each family with work and a good standard of living. Worries focus on unemployment, debt, and need to draw on savings to meet current expenses. Adjustments in life-style include elimination or reduction of vacations, less use of electricity, reduction in meat consumption, and postponement of medical and dental checkups. Cars and appliances are repaired rather than replaced. Forty-one percent of wives work full or part-time to supplement the family budget. Two-thirds of families use credit to pay for day-to-day expenses; 29% have government bonds; and 80% have health insurance. Information about the survey instruments and methodology concludes the report. (Author/AV)
Descriptors: Banking, Budgeting, Credit (Finance), Economic Change, Economic Factors, Family Attitudes, Family Income, Family Life, Family Problems, Government Role, Health, Home Management, Income, Inflation (Economics), Life Style, Living Standards, Money Management, National Surveys, Quality of Life, Social Change, Statistical Analysis, Tables (Data), Values
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: General Mills, Inc., Minneapolis, Minn.; Yankelovich, Skelly and White, Inc., New York, NY.