Financial Adjustments
Measures of financial adjustments capture the financial behaviors (e.g., selling household items, reducing spending) one engages in to meet financial obligations.
Measure
Source: Wadsworth ME, Santiago CD. Risk and resiliency processes in ethnically diverse families in poverty. Journal of Family Psychology. 2008;22(3):399-410.
Psychometric properties: Cronbach’s alpha = 0.74
r = 0.30 (statistically significantly correlated with family poverty-related stress)
In order to save money or get money to cover household expenses during the past year, did you:
| Yes* | No* | |
|---|---|---|
| Sell possessions | ||
| Move to a cheaper residence | ||
| Move in with relatives | ||
| Reduce spending on vacations | ||
| Reduce spending on clothes | ||
| Substitute cheaper food products | ||
| Eat less meat | ||
| Trade your car for a cheaper model | ||
| Cut back on entertainment expenditures | ||
| Reduce spending on nonessentials | ||
| Borrow or were given money by a relative |
*Response options changed to “yes/no” for the Money-Health Connection study. In the Wadsworth and Santiago (2008) study, respondents completed questions on a 5-point scale, indicating how often each of 11 items was true for them in the past 6 months.
Measure
Source: Lempers JD, Clark-Lempers D, Simons RL. Economic hardship, parenting, and distress in adolescence. Child Development. 1989;60(1): 25-39.
Psychometric properties: Cronbach’s alpha = 0.86 of 11-items from a 12-item scale of “Economic Hardship.”
During the last 6 months, how often did your family:
| Never | Sometimes | Often | Very often | |
|---|---|---|---|---|
| Cut back on social activities and entertainment expenses | ||||
| Postpone major household purchases | ||||
| Postpone clothing purchases | ||||
| Change transportation patterns to save money | ||||
| Change food shopping or eating habits to save money | ||||
| Cut back on charitable contributions | ||||
| Reduce household utility use | ||||
| Sell some possessions | ||||
| Postpone medical care to save money | ||||
| Take additional employment to help meet expenses |