Financial Worry
Measures of financial worry capture the presence and degree of worry one has about their financial situation.
Measure
Source: Shim S, Barber BL, Card NA, et al. Financial socialization of first-year college students: The roles of parents, work, and education. Journal of Youth Adolescence. 2010;39:1457–1470.
Psychometric properties: Confirmatory Factor Analysis (CFA) factor loading = .79 for this item in measure of financial satisfaction.
I am constantly worried about money.
- Strongly disagree
- Disagree
- Neither disagree nor agree
- Agree
- Strongly agree
Measure
Source: Creed PA, Macintyre SR. The relative effects of deprivation of the latent and manifest benefits of employment on the well-being of unemployed people. Journal of Occupational Health Psychology. 2001;6(4):324-331.
Psychometric properties: This is one item from a four-time measure of financial strain with Cronbach’s alpha = 0.91.
Thinking back over the past month, how often have you had serious financial worries?
- Hardly ever
- Frequently
- Nearly all the time
- All the time
Measure
Source: Hilton JM, Devall EL. The Family Economic Strain Scale: Development and evaluation of the instrument with single- and two-parent families. Journal of Family and Economic Issues. 1997;18: 247–271.
Psychometric properties: Three items selected from a 13-item measure of family economic strain. The factor loadings for these three items range from .52-.67.
Thinking back over the past month, how often have you had serious financial worries?
- Hardly ever
- Frequently
- Nearly all the time
- All the time
| Never | Seldom | Sometimes | Usually | Always | |
|---|---|---|---|---|---|
| Financial problems interfere with my work and daily routine | |||||
| I worry about financial matters | |||||
| Financial problems interfere with my relationships with other people |