In Charge Financial Distress/Financial Well-Being Scale: Development, Administration, and Score Interpretation

This article describes development of the InCharge Financial Distress/Financial Well-Being Scale, designed to measure a latent construct representing responses to one's financial state on a continuum ranging from overwhelming financial distress/lowest level of financial well-being to no financi...

Full description

Saved in:
Bibliographic Details
Published in:Financial counseling and planning 2006-01, Vol.17 (1), p.34-50
Main Authors: Prawitz, Aimee D, Garman, E Thomas, Sorhaindo, Benoit, O'Neill, Barbara, Kim, Jinhee, Drentea, Patricia
Format: Article
Language:English
Subjects:
Finance
Measurement
Scales
Stress
Well Being
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This article describes development of the InCharge Financial Distress/Financial Well-Being Scale, designed to measure a latent construct representing responses to one's financial state on a continuum ranging from overwhelming financial distress/lowest level of financial well-being to no financial distress/highest level of financial well-being. It describes a formative Delphi study, validity criteria and testing, factor analysis, Cronbach's alpha coefficients, administration instructions, norming of the data and score interpretation, and implications for use. Adapted from the source document.
ISSN:1052-3073