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Christian Survey

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Methodology

Thrivent Financial’s 2015 Money Mindset Report was conducted by Wakefield Research

(www.wakefieldresearch.com) among 1,001 nationally representative U.S. adults ages 18+ and

1,000 U.S. adult self-identified Christians ages 18+ between July 16 and July 27, 2015, using an

email invitation and an online survey.

Results of any sample are subject to sampling variation. The magnitude of the variation is

measurable and is affected by the number of interviews and the level of the percentages

expressing the results. For the interviews conducted in this particular study, the chances are 95 in

100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from

the result that would be obtained if interviews had been conducted with all persons in the

universe represented by the sample.

For more information visit www.thrivent.com/moneymindset

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Key Findings – Wise with Money

According to the report, a majority of Christians face financial uncertainties; however, those who seek financial advice from

their faith community are also more prepared for the future.

• Only 27 percent of Christians are very confident they are making the right decisions with their money.

• Christian Millennials are turning to their faith communities. In fact, 45 percent of Millennials have turned to a faith

community, religious leader or to faith-based financial education for financial advice.

• Those who have turned to their faith communities for financial advice are also slightly more prepared for their future.

Thirty-six percent have a long-term financial plan, compared to just 21 percent of those who have not turned to a faith

community.

• Many Christians face struggles with their finances for reasons including that 29 percent don’t have an emergency fund ,

28 percent don’t have a long-term financial plan and 22 percent don’t have a short-term plan.

• Seventy-seven percent of Christians don’t have a financial advisor.

• Many Christians aren’t protecting their finances for the future. Nearly half of Christians (46 percent) don’t have life

insurance, 58 percent don’t have a retirement fund and 89 percent don’t have disability income insurance.

• Fifteen percent of Christians struggle to keep up with day-to-day expenses. Meanwhile, 30 percent are fairly stable, but

just making ends meet and only 8 percent feel they have more than they need (surplus mindset).

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Findings also show that even during hard times, Christians continue to make efforts to give back.

• Generosity is a trait that’s important to Christians. Sixty-nine percent would rather others call them generous than

financially successful, compared to 61 percent of the general population who feel the same way.

• More than 1 in 3 (37 percent) Christians believe the purpose of the money they make is to give back to others. For

many, the desire to give more is a financial motivator. Thirty-five percent think their motivation to become

financially secure is so that they can give more money rather than have it.

• Forty-two percent of Christians think their top obstacle to giving is that they can’t afford to give, and 62 percent of

Christians who would donate more if they made more money feel they’d need to make $5,000 or more a year in

order to donate more.

• Eighty-eight percent of Christians say they would give more to nonprofit organizations if they made more money;

however, many Christians know it doesn’t take just money to give back. Sixty-nine percent regularly volunteer for a

nonprofit organization (churches as well as organizations that help those in poverty are where the biggest

percentage of Christians volunteer) and 57 percent think donating time makes a bigger impact than donating

money.

Key Findings – Generosity

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WISE WITH MONEY

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Future Financial Uncertainty

• Only 25 percent of Christians report having a long-term financial plan and 77 percent do not

have a financial advisor to help plan for the future.

• Nearly half (49 percent) of Christian males have a retirement fund, compared to 37 percent of females.

• 69 percent of Christians don’t have stocks or bonds and 75 percent don’t have mutual funds.

32% 25% 25% 24%

14%

51%

Investment

in stocks or

bonds

A long-term

financial

plan

Mutual

Funds

Financial

advisor

Annuities None of

these

Which of the following, if any, do you have?

(Select all that apply)

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Future Financial Uncertainty—continued

• Nearly half of Christians (46 percent) do not have life insurance.

• 89 percent of Christians do not have disability insurance, including 89 percent of Baby Boomers.

54%

42% 40%

33%

12% 12% 12%

19%

46%

40% 44%

39%

9%

25%

15% 19%

52%

44% 43%

28%

14% 16% 11%

22%

59%

42% 39%

30%

13%

3%

10%

16%

Life Insurance Retirement

fund

Debt Emergency

savings

account

Disability

income

insurance

A college

savings

account

Long-term

care

insurance

None of these

Which of the following, if any, do you have?

Total Millennials Gen X Baby Boomers

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Current Financial Stability

• Only 8 percent of Christians feel they have more than they need for themselves and their families,

including only 5 percent of Gen X.

• 15 percent struggle to keep up with day-to-day expenses, and 9 percent think that they require

financial assistance to get by.

9%

15%

30%

37%

8%

15% 14%

31% 32%

9% 12%

17%

31% 35%

5% 6%

17%

30%

39%

7%

I require financial

assistance to get by.

I am struggling to keep up

with day-to-day expenses.

I am fairly stable, but just

making ends meet.

I am fairly secure, able to

make ends meet and have

some left over.

I have more than I need

for myself and my family.

Which of the following best describes your current financial situation?

Total Millennials Gen X Baby Boomers

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Status on Spending

• Nearly 1 in 4 Christians (23 percent) currently live above their financial means, including 32

percent of Millennials; more than 1 in 4 Christians (27 percent) feel they are living below their

financial means.

23%

50%

27%

In general, how far below or above your financial means do you currently live?

Above their financial means.

Within their financial means.

Below their financial means.

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Status on Spending—continued

• Half of Christians frequently purchase items they want but don’t need, with 71 percent of Christian

Millennials admitting to making purchases they don’t need.

• Only 7 percent of Christians never purchase items they want but don’t need.

9%

41% 43%

7%

How often, if ever, do you buy things that you want, but don’t need?

All the time

Some of the time

Hardly ever

Never

42%

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Struggling With Finances

• Nearly one-third (29 percent) of Christians, including 37 percent of Gen Xers, do not have

an emergency fund.

• 35 percent of Christian women do not have an emergency fund, compared to 22 percent of men.

• 28 percent of Christians, including 31 percent of Christian Gen Xers and Christian Millennials, do not

have a long-term financial plan.

• 63 percent of Christians admit to having struggled with their finances.

29% 28% 22%

17% 16%

3%

37%

25% 31%

24% 22% 21%

3%

28%

37% 31%

26% 22%

19%

3%

26% 31%

27% 22%

13% 13%

3%

42%

I do not have an

emergency fund.

I do not have a long-

term financial plan.

I do not have a

short-term financial

plan.

I spend more than

what I make.

I do not not manage

my debt well.

Other I have not struggled

with my finances.

In which of the following ways, if any, have you struggled with your

finances? (Select all that apply)

Total Millennials Gen X Baby Boomers

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Confidence in Financial Decisions

• Only 27 percent of Christians are very confident that they make the right decisions with

their money, with 4 percent stating that they are not at all confident.

• Of Christian Millennials, Gen Xers and Baby Boomers, Millennials are the most confident

that they make the right decisions with their money.

27%

53%

16%

4%

34%

48%

17%

2%

21%

60%

14% 6%

22%

52%

19%

6%

Very confident Somewhat confident Not very confident Not at all confident

How confident or not confident are you that you make the right

decisions with your money?

Total Millennials Gen X Baby Boomers

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GENEROSITY

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Earning With Purpose

• While 54 percent of Christians state that the purpose of the money they make is to protect

their family’s future, 60 percent admit that the main purpose of the money they make is to

support the lifestyle they want to live now.

• More than 1 in 3 (37 percent) think the purpose of the money they make is to give back –

whether during their lifetime or after they’re gone.

60% 54%

28% 20%

To support the lifestyle I

want to live now.

To protect my family's

future.

To give back during my

lifetime.

To give back after I'm

gone.

Which of the following describe the purpose of the money you

make? (Select all that apply)

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Earning With Purpose—continued

• The desire to give more is a financial motivator for Christians; 35 percent think their motivation to

become financially secure is to give more money.

65%

35%

Which of the following best explains your motivation to become financially secure?

So I can have more money.

So I can give more money.

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Living Generously

• 74 percent of Christians (and 83 percent of Christian Millennials) think they’re more generous

compared to the average American.

16%

58%

22%

4%

27%

56%

16%

1%

16%

56%

25%

3% 11%

59%

24%

6%

Much more generous. Somewhat more generous. Somewhat less generous. Much less generous.

Compared to the average American, how much more or less generous

are you?

Total Millennials Gen X Baby Boomers

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Living Generously—continued

• 69 percent of Christians would rather others call them “generous” than “financially successful,”

compared to only 61 percent of the general population.

• 79 percent of Christian Baby Boomers would rather be called “generous” than “financially

successful,” compared to 57 percent of Christian Millennials.

69%

31%

57% 43%

66%

34%

79%

21%

Generous Financially successful

Which of the following would you rather be called by others?

Total Millennials Gen X Baby Boomers

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Importance of Giving Back

• 81 percent of Christians have donated money to a nonprofit organization in the past year, with the

average Christian donating money 12 times over the past 12 months.

19%

28%

15%

38%

18%

37%

17%

28% 24%

30%

16%

31%

18% 25%

12%

45%

Never 1–3 times 4–5 times 6+ times

In the past year, approximately how many times, if any, have you

donated money to a nonprofit organization?

Total Millennials Gen X Baby Boomers

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Obstacles to Donating

• When it comes to donating, Christians say the biggest obstacle is that they “can’t afford to give.”

• Half of Christian women say their biggest obstacle is that they “can’t afford to give,” compared to

33 percent of men.

42%

29%

13%

Can’t afford to give.

Already give enough to

nonprofit organizations.

Cant give enough to

make a difference.

Christians’ Top 3 Obstacles to Donating More Money to Nonprofit Organizations

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Impact of Time vs. Money

• Christians know how far a little of their time can go; 57 percent think donating time makes a

bigger impact than donating money.

• Christian Millennials value donating their time: 63 percent of Christian Millennials think donating

time makes a bigger impact than donating money, compared to 54 percent of Boomers.

57%

43%

What makes a bigger impact?

Donating

time

Donating

money63% 61%

54%

Millennials Gen X Baby

Boomers

Which generation most

thinks that donating time

makes a bigger impact

than donating money?

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Making More to Give More

• 88 percent of Christians would give more to nonprofit organizations if they made more money.

44% 44%

11%

2%

Agree strongly Agree somewhat Disagree somewhat Disagree strongly

I would give more to nonprofit organizations if I made more money.

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Making More to Give More—continued

• 62 percent of these Christians feel they’d need to make $5,000 or more a year than they

already make in order to donate more.

38%

13% 24%

25%

Approximately how much more money per year would you want to make

in order to donate more?

Less than $5,000

$5,000–$9,999

$10,000–$19,999

$20,000 or more

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Volunteering Breakdown

• 69 percent of Christians, including 80 percent of Christian Millennials, regularly volunteer for

a nonprofit organization.

• Church, and other religious institutions, is where the biggest percentage of Christians volunteer.

37%

26%

20% 17% 17% 16%

11%

1% 5%

A religious

institution, such as

a church

An organization that

helps those in

poverty

An organization that

helps children

A school An organization that

fights disease

An organization that

helps the eldery

An organization that

helps the

enviornment

An organization that

helps animals

Other

Which of the following types of nonprofit organizations, if any, do you

regularly volunteer for? (Select all that apply)

80% 66% 61%

Millennials Gen X Baby Boomers

Which generation volunteers most?

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FAITH AND FINANCES

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Financial Support From the Faith Community

24% Have turned to

faith community.

45% 26%

14%

Millennials Gen X Baby Boomers

Which generation is most

likely to turn to their faith

community for financial

advice?

76% Have not turned to

faith community.

• When they’re going through something tough, Christians turn to their faith communities. Nearly 1

in 4 Christians (24 percent), including 45 percent of Millennials, have turned to a faith community,

religious leader or faith-based financial education provider for financial advice .

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Financial Support From the Faith Community

24% 23% 17%

Millennials Gen X Baby Boomers

Which generation is most

likely to turn to a faith

community for advice on

managing daily finances?

• 1 in 5 Christians (20 percent) think their faith community would give better advice than their

significant other on managing daily finances.

• 28 percent think they’d get better guidance from their faith community than their significant other

during a personal financial crisis.

40% 30% 21%

Millennials Gen X Baby Boomers

Which generation is most

likely to turn to a faith

community for guidance

during a financial crisis ?

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Positive Impact of Faith Community

• Those who have turned to their faith communities are slightly more prepared for their future:

36 percent have a long-term financial plan, compared to just 21 percent of those who have

not turned to a faith community.

36%

21%

Turned to faith

community.

Have not turned to faith

community.

Have long-term financial plan

Those who have turned to their faith communities are more likely to

have a long-term financial plan.