This study has been approved by Northumbria University’s Ethics Chair. Project ID No: xxxxx.

We would like to invite you to participate in this research project directed by researchers at Northumbria University and Ghent University. You should only participate if you want to; choosing not to take part will not disadvantage you in any way. Before you decide whether you want to take part, it is important for you to read the following information carefully and discuss it with others if you wish. Ask us if there is anything that is not clear or if you would like more information. In this online study you will be asked to set savings targets and estimate savings and expenses. All data will be handled according to the Data Protection Act 1998 and will be kept anonymous. Only researchers working with Professor Önkal will analyze these data. It is up to you to decide whether or not to take part. If you decide to take part you will be asked to sign a consent form. If you decide to take part you are still free to withdraw at any time and without giving a reason. You may wish to print this information sheet for your records. Should you have any further questions, feel free to contact

Name, Address and Contact Details of Principal investigator:

Prof Dilek Önkal,
Faculty of Business and Law, Northumbria University
97 New Bridge Street, Newcastle upon Tyne NE1 2SW, United Kingdom

Press "Next" to go to the consent form.

In the box below, we ask you to indicate your target savings, and estimate your predicted savings and expenses over the course of the following three months.
Target savings:

Predicted savings:

Predicted expenses:
In general, savings can be divided into three categories: emergency funds savings, retirement savings, and personal savings. Please indicate how much you predict to save for each category over the course of the next three months.

Emergency funds savings:

Retirement savings:

Personal savings:
Imagine the following scenario: you come home after a busy day feeling very tired and are looking forward to a relaxing evening. However, upon arrival, you open your door and the hallway is full of water. A water pipe has broken and water has leaked everywhere. You hurry to shut off the water supply and search the number of a local plumber as fast as you can. You call the plumber. After an hour's wait, he comes by and assesses the damage. The quote he gives amounts to 80% of your monthly income. How does this affect your expenses and savings estimates for the next three months?

How likely do you deem this scenario to happen to you?

How impactful would this scenario be on your financial situation?
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow:

less than $102
exactly $102
more than $102

Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, would you be able to .. today with the money in this account?:

buy less than today
buy exactly the same as today
buy more than today

Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”


this will be the page with the financial wellbeing scale

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