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 o o
Move to a cheaper residence o o
Move in with relatives o o
Reduce spending on vacations o o
Reduce spending on clothes o o
Substitute cheaper food products o o
Eat less meat o o
Trade your car for a cheaper model o o
Cut back on entertainment expenditures o o
Reduce spending on nonessentials o o
Borrow or were given money by a relative o o

*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 o o o o
Postpone major household purchases o o o o
Postpone clothing purchases o o o o
Change transportation patterns to save money o o o o
Change food shopping or eating habits to save money o o o o
Cut back on charitable contributions o o o o
Reduce household utility use o o o o
Sell some possessions o o o o
Postpone medical care to save money o o o o

Take additional employment to help meet expenses

o o o o