A Brief Money Management Scale and Its Associations with Personality, Financial Health, and Hypothetical Debt Repayment

Autor/inn/en	Ksendzova, Masha; Donnelly, Grant E.; Howell, Ryan T.
Titel	A Brief Money Management Scale and Its Associations with Personality, Financial Health, and Hypothetical Debt Repayment
Quelle	In: Journal of Financial Counseling and Planning, 28 (2017) 1, S.62-75 (14 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1052-3073
Schlagwörter	Money Management; Personality; Personality Measures; Debt (Financial); Financial Needs; Test Reliability; Test Validity; Test Format; Budgeting; Factor Structure; Measurement Techniques; Factor Analysis; Community Surveys; Correlation; Predictor Variables; Replication (Evaluation); Statistical Analysis + Suchen Sie Ihr Suchwort? Personalität; Testreliabilität; Testvalidität; Testentwicklung; Faktorenstruktur; Messtechnik; Faktorenanalyse; Korrelation; Prädiktor; Statistische Analyse
Abstract	Money management is essential for financial health, and more research is needed to better assess people's money management practices. Therefore, we factor-analyzed 205 scaled questions from previous money management measures to select the best items and examined their internal consistency and convergent validity. Our resulting 18-item Brief Money Management Scale and its factors (management of cash, credit, savings, and insurance) replicate and clarify previous relationships between types of money management and financial outcomes as well as personality and demographic antecedents. Furthermore, this scale is reliable and predicts participants' hypothetical debt repayment behavior, suggesting concurrent validity. We discuss how future studies can use this multifaceted measure of money management to better understand the antecedents and consequences of different financial decisions. (As Provided).
Anmerkungen	Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: http://afcpe.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01