Journal of Family and Economic Issues

, Volume 14, Issue 3, pp 257–274 | Cite as

Financial management: Development of scales

  • Vicki Schram Fitzsimmons
  • Tahira K. Hira
  • Jean W. Bauer
  • Jeanne L. Hafstrom


This study is a contribution to the development of family resource management scales, specifically financial management scales. Principal axis factor analysis, with varimax rotation, is used to assess underlying relationships in 23 family resource management variables related to time and money resources. Reliability and content, construct, and criterion-related validity of the scales are assessed. Two scales that are reliable and have some degree of validity are developed: frequency of financial problems and frequency of financial management. The scales could be used in future research, teaching, or counseling to organize financial management concepts.

Key words

family resource management financial management financial problems scale development 


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Copyright information

© Human Sciences Press, Inc. 1993

Authors and Affiliations

  • Vicki Schram Fitzsimmons
    • 1
  • Tahira K. Hira
    • 2
  • Jean W. Bauer
    • 3
  • Jeanne L. Hafstrom
    • 4
  1. 1.Division of Consumer Sciences, School of Human Resources and Family StudiesUniversity of IllinoisUrbana
  2. 2.Iowa State UniversityAmes
  3. 3.Family Social Science DepartmentUniversity of MinnesotaSt. Paul
  4. 4.Emerita of Family and Consumer EconomicsUniversity of IllinoisUrbana

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