Survey of Consumer Finances, 1954

This data collection is one in a series of financial surveys of consumers conducted annually since 1946. In a nationally representative sample, the head of each spending unit (usually the husband, the main earner, or the owner of the home) was interviewed. The basic unit of reference in the study was the spending unit, but some family data are also available. The questions in the 1954 survey covered the respondent's attitudes toward national economic conditions and price activity, as well as the respondent's own financial situation. Other questions examined the spending unit head's occupation, and the nature and amount of the spending unit's income, debts, liquid assets, changes in liquid assets, savings, investment preferences, and actual and expected purchases of cars and other major durables. In addition, the survey explored in detail the subject of housing, e.g., previous and present home ownership, value of respondent's dwelling, and mortgage information. This was the first year that questions were asked regarding plans to make additions and repairs to homes. The 1954 survey emphasized the respondent's contractual payments, e.g., mortgages, rent, property taxes, and installment debt. Respondents were asked about the desirability of using an installment plan and the wisest place to put savings. A separate subsection of the survey contained questions for farmers. (The separate farmer's questionnaire, used in the 1947-1953 surveys, was dropped.) Personal data include number of people in the spending unit, age, sex, and education of thehead, and the race and sex of the respondent.