FDU PublicMind - January 15, 2009 Release

Background Memo

The most recent poll by Fairleigh Dickinson University's PublicMind was commissioned by the Silberman College of Business and conducted by telephone from January 5 through January 11 using a randomly selected sample of 841 adults statewide (aged 18 and over) who report that they participate in financial decisions in their household. The sampling error for 841 adults is +/- 3.5 percentage points at the 95 percent level of confidence. Survey results are also subject to non-sampling error. This kind of error, which cannot be measured, arises from a number of factors including, but not limited to, non-response (eligible individuals refusing to be interviewed), question wording, the order in which questions are asked, and variations among interviewers. Interviews were conducted by professionally trained interviewers using a CATI (Computer Assisted Telephone Interviewing) system. Random selection >is achieved through computerized random-digit dialing. This technique gives every person with a land line (including those with unlisted numbers) an equal chance of being selected. Results are also mathematically weighted to match known demographics.

Would you say you and your family living there are better off or worse off financially than you were a year ago?

Now looking ahead—do you think that a year from now you (and your family living there) will be better off financially or worse off?

Would you say that at the present time business conditions in New Jersey are better or worse than they were a year ago?

And how about a year from now—do you expect during the next 12 months business conditions in New Jersey will be better or worse than they are at present?

Have you, or anyone of your relatives or close friends lost a job in the past year?

In the past year…

In the next 12 months, (2009) will you…

Buy or lease a car
Purchase stocks or other types of investments outside your pension plan
Buy a major home appliance
Make a major home improvement or repair over $1000
Purchase an airline ticket for a pleasure trip
Go away on vacation for a week or more
Buy a computer
Refinance your house or take a home equity loan
Buy or build a house
Visit an Atlantic City casino
Increase the unpaid balance on your credit card

Now thinking about the outstanding balance on your credit cards-- how difficult is it to make payments on the balances? Would you say it is..

Very Difficult
Somewhat Difficult
Not Very Difficult
Not At All Difficult

During the next 12 months, do you think that housing prices in your area will go up or go down?

If you were suddenly to get an extra $1000, do you think you would

Save it
Spend it
Use it to pay bills
Give it to Charity

At this point, has the financial crisis on Wall Street directly affected your finances or not?

[If employed] How worried are you that you might lose your job in the next 12 months…?

Very worried
Somewhat worried
Not very worried
Not at all worried