Family Resource Management
Measures of family resource management capture whether one has a systematic process of monitoring the use of financial resources.
Measure
Source: Grable J, Joo S. Student racial differences in credit card debt and financial behaviors and stress. College Student Journal. 2006;40(2):400-408.
Psychometric properties: Not reported.
I make myself aware of the total amount of money I owe.
- Almost never
- Seldom
- Sometimes
- Often
- Almost always
I pay my credit card bills in full and avoid finance charges.
- Almost never
- Seldom
- Sometimes
- Often
- Almost always
Measure
Source: Gutter MS, Garrison S, Copur Z. Social learning opportunities and the financial behaviors of college students. Family and Consumer Sciences Research Journal. 2010;38(4):387-404.
Psychometric properties: Not reported.
Do you currently use a system to manage expenses and avoid overspending?
- Yes
- No
Are you currently depositing ⁄ investing money on a regular basis into some sort of account (includes employer plans, mutual funds, individual retirement account, savings, CDs)?
- Yes
- No
Measure
Source: Hayhoe CR, Gutter ME. Reliability of the scales in the NC1172 Complex Nature of Saving Data Set. Family and Consumer Sciences. 2012;40(3):284–294.
Psychometric properties: Three items from a four-item Financial Behaviors Scale (Hayhoe and Gutter, 2012); Cronbach’s alpha not reported.
How would you describe your (if you have no spouse/partner) or your family’s spending over the past year?
- Spending exceeded income
- Spending equaled income
- Spending was less than income
Never | Rarely | Sometimes | Often | Always | |
---|---|---|---|---|---|
How often does your family make plans on how to use your money? | |||||
How often does your family monitor your spending? |