Development of a Battery for the Measurement of Financial Capabilities in Young People

IF 2.8 2区社会学 Q1 SOCIAL SCIENCES, INTERDISCIPLINARY

Social Indicators Research Pub Date : 2024-05-07 DOI:10.1007/s11205-024-03336-5

William Fernando Duran León, Olga Lucia Manrique Chaparro, Camilo Andrés Ramírez Rojas

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Abstract

Measuring financial capabilities among young people poses a challenge for scholars. In this study, we developed a set of ten scales to assess various behaviors, attitudes, and knowledge, allowing for a comprehensive examination of the construct. We designed a pool of items and invited 746 participants, aged 16 to 29, who were divided into two groups for studying the psychometric properties of the tests. The first group underwent an Exploratory Factor Analysis, while the second group underwent a Confirmatory Factor Analysis. Through these analyses, we identified five dimensions of financial behaviors, four dimensions of financial attitudes, and one dimension of knowledge or financial literacy. The scales were combined to measure two financial capabilities: Financial Saving Capability and Responsible Debt Management Capability. Furthermore, we identified distinct profiles of young people associated with each proposed financial capability. Finally, we offer a conceptual discussion of the financial capabilities construct, present scales with reliable and valid measurements, and propose avenues for future research.

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开发用于衡量青少年财务能力的测试工具

衡量青少年的财务能力是学者们面临的一项挑战。在本研究中，我们开发了一套由十个量表组成的量表，用于评估各种行为、态度和知识，从而对这一概念进行全面考察。我们设计了一个项目库，并邀请了 746 名 16 至 29 岁的参与者，将他们分为两组，以研究测试的心理测量学特性。第一组进行了探索性因子分析，第二组进行了确认性因子分析。通过这些分析，我们确定了五个金融行为维度、四个金融态度维度和一个知识或金融素养维度。我们将这些量表进行了组合，以测量两种财务能力：财务储蓄能力和负责任的债务管理能力。此外，我们还确定了与每种建议的财务能力相关的年轻人的独特特征。最后，我们对财务能力的概念进行了讨论，提出了可靠有效的测量量表，并提出了未来的研究方向。

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来源期刊

Social Indicators Research Multiple-

CiteScore

6.30

自引率

6.50%

发文量

174

期刊介绍： Since its foundation in 1974, Social Indicators Research has become the leading journal on problems related to the measurement of all aspects of the quality of life. The journal continues to publish results of research on all aspects of the quality of life and includes studies that reflect developments in the field. It devotes special attention to studies on such topics as sustainability of quality of life, sustainable development, and the relationship between quality of life and sustainability. The topics represented in the journal cover and involve a variety of segmentations, such as social groups, spatial and temporal coordinates, population composition, and life domains. The journal presents empirical, philosophical and methodological studies that cover the entire spectrum of society and are devoted to giving evidences through indicators. It considers indicators in their different typologies, and gives special attention to indicators that are able to meet the need of understanding social realities and phenomena that are increasingly more complex, interrelated, interacted and dynamical. In addition, it presents studies aimed at defining new approaches in constructing indicators.