20+ best income survey questions to ask in your surveys

Surveys are one of the fastest and most effective ways to gather the needed information. It is crucial to make respondents feel at ease enough to respond when collecting personnel information from them. When sensitive topics are brought up in survey questions, respondents become uneasy. For instance, accurate answers to sensitive questions about income are required. 

Businesses use the results of income surveys to pinpoint their target market, plan better product prices and marketing strategies, and generally improve. Knowing where to position the products and their prices so that they appeal to a broader customer base of all different income ranges is helpful to the researcher. This article will explain the definition of an income survey, the best 20 questions for your income survey, and how to create an online survey easily.

What is an income survey?

An income survey is a specific demographic survey to understand a person’s and a group’s financial situation better. It is a survey questionnaire about financial status. Using a household income survey, they provide information about a person’s annual income, whether their individual or household income. Income is personal information, but it is also information that some businesses, like banks, restaurants, and retailers, need to know to make intelligent business decisions.

The definition of income survey

Income-related survey questions can be touchy. Given that some respondents may believe that income demonstrates a person’s growth answering this question causes them to feel awkward. However, these questions are essential because they provide data that researchers can use to identify the appropriate target market, conduct pricing research, and more. 

Researchers use the annual or monthly income survey questions to assess the respondent’s financial situation. For example, by asking questions in your income survey, you can determine whether your customer base can afford the offered product or service. Businesses can profitably set their product prices by knowing the customers' annual income.   

Top 20 question examples for your income surveys

The income survey can be used to examine the income of people and households. Organizations, researchers, and academics can utilize this survey method to learn about people’s financial situations. The survey’s findings can affect branding, product pricing, and other decisions. Here are the top 20 question examples for your income questionnaire: 

1. What is your gender?

a  - Female

b  - Male

c  - I prefer not to answer

2. Are you married?

a  - Yes

b  - No

c  - I prefer not to answer

3. How many children do you have?

a  - None

b  - 1

c  - 2

d  - 3

e  - 4

f  - 5+

g  - I prefer not to answer 

4. What best describes your current state of living?

a  - Homeowner

b  - Renter

c  - Lessee

d  - Other

e  - Prefer not to answer

5. What is the status of your employment? 

a  - Full-time

b  - Part-time

c  - Freelance

d  - Retired

e  - I prefer not to answer

6. Do you have any dependents? 

a  - None

b  - 1-3

c  - 3-5

d  - 5-7

e  - 7+

f  - I prefer not to answer

7. What is your academic background? 

a  - High school diploma

b  - Associate degree

c  - Bachelor’s degree

d  - Trade school certification

e  - Master’s degree 

f  - Other

g  - I prefer not to answer 

8. In what sector do you work?

a  - Agriculture

b  - Data processing

c  - Education

d  - Entertainment

e  - Food services

f  - Finance

g  - Hotel services

h  - Information services

i  - Legal services

j  - Military

k  - Publishing 

l  - Other

m  - I prefer not to answer 

9. How old are you?

a  - 0-15 years old

b  - 15- 20 years old

c  - 21- 30 years old

d  - 31- 40 years old

e  - 41- 50 years old

f  - 51- 60 years old

g  - 60+ years old

h  - I prefer not to answer

10. Which of these best describes your annual personnel income?

a  - Less than $10,000

b  - $10,000 – $50,000

c  - $50,000 – $100,000

d  - $100,000 – $150,000

e  - $150,000+

f  - I prefer not to answer

11. What is the total income of your household?

a  - Less than $50,000

b  - $50,000 – $100,000

c  - $100,000 – $150,000

d  - $150,000 – $200,000

e  - $200,000+

f  - I prefer not to answer

 12. Which of these best describes your monthly personnel income?

a  - Less than $3,000

b  - $3,000 – $7,000

c  - $7,000 – $15,000

d  - $15,000 – $25,000

e  - $25,000+

f  - I prefer not to answer

13. Do you have any other sources of income besides a salary?

a  - Yes

b  - No

c  - I prefer not to answer

14. Have you received disability or social security benefits recently?

a  - Yes

b  - No

c  - I prefer not to answer

15. Did you generate income last year from the sale of stocks, bonds, or real estate?

a  - Yes

b  - No

c  - I prefer not to answer

16. Have you ever had financial support from someone who does not live with you, such as rent or utility payments?

a  - Yes

b  - No

c  - I prefer not to answer

17. Have you been paid alimony recently? 

a  - Yes

b  - No

c  - I prefer not to answer

18. In the past year, did you receive any financial aid for child support? 

a  - Yes

b  - No

c  - I prefer not to answer

19. Have you ever received any income not subject to federal taxation?

a  - Yes

b  - No

c  - I prefer not to answer

20. Can you list all sources of your income?

How to create an online income survey with no code

The right way to ask respondents in income surveys has advantages. Understanding household income can give you valuable insight that will aid in the decision-making process for your company. 

A questionnaire on income and expenditure enables researchers to examine the impact of variables like income on purchasing decisions, assist companies with setting their prices, determining the income of their target market, and developing long-term business plans. You can create an online income survey without expert knowledge on forms.app, one of the best survey makers.

1 - Create an account or sign in to your existing account

You can create a quick and effective income survey on forms.app. First, you can log into your existing account. You can also create your account and sign up for free in seconds if you don’t have an account.

Create an account or sign in to your existing account

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2 - Choose ready-made templates or begin to form scratch

forms.app offers its users ready-to-use, attractive survey templates on many topics. You can quickly create your income survey by choosing these ready-made templates. Additionally, you can create your survey from scratch. 

Choose ready-made templates or begin to form scratch

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3 - Edit your income survey

You can change or add new questions you want to ask in the survey or the questions you want to remove or change from the questions in the ready survey templates. You can easily use the practical income range survey questions examples we shared above in your survey. 

Edit your income survey

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4 - Edit your survey design

The choice of theme is essential for improving the appeal of your survey. More people respond to surveys that have been well-prepared. forms.app offers a vast selection of themes. You can use pre-made themes effectively by making your selection from them.

Edit your survey design

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5 - Adjust the settings and share your survey

It is ready to use after you complete all the settings in your survey that you have prepared easily without writing any code. You can save the survey you have designed and share it with the participants by sharing a link, sending an email, or embedding your survey on your website.

Adjust the settings and share your survey

Conclusion

In conclusion, an individual’s financial situation can be understood by answering a questionnaire about their income. They provide insight into a person’s annual income, whether their household’s or their own. Financial institutions frequently use these questions to assess a person’s financial capacity in surveys, either as a part of a demographic or as a particular question type.

The right audience can be identified, price research can be done, and more with the income questionnaire questions. It also helps the researcher develop a thorough understanding of the target market, which can help a business price its goods and services appropriately and make strategic decisions in light of that information. You can easily create your income survey without a code on forms.app.