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.   

  Never Seldom Sometimes Usually Always
Financial problems interfere with my work and daily routine o o o o o
I worry about financial matters o o o o o
Financial problems interfere with my relationships with other people o o o o o