Financial Well-Being Scale (CFPB)
Psychology: Mental HealthReliability: alpha 0.913 sample items
About this scale
A 10-item measure of subjective financial well-being — perceived ability to meet financial obligations and have financial freedom.
Sample item(s)
“I am just getting by financially”
“I am concerned that the money I have or will save won't last”
“Because of my money situation, I feel I will never have the things I want in life”
Reliability
Reported internal consistency: alpha 0.91. As a rule of thumb, Cronbach’s α ≥ .70 is considered acceptable, ≥ .80 good, and ≥ .90 excellent for established measures.
Notes
Free for academic use.
Source & citation
Consumer Financial Protection Bureau (2017): CFPB Financial Well-Being Scale: Scale Development Technical Report.
Source. Scale details are summarised from the publication cited above. Always consult the original source for the full item set, scoring, and permission to use.
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