Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context
The objective of the study is to analyze the reliability and validity evidence based on the internal structure of the InCharge Finance Distress / Financial Wellbeing (IFDFW). It was administered to 545 citizens from the three regions of Peru (coast, the Andes and the rainforest). There were 296 wome...
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2024
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| author | Millones Liza, Dany Yudet García-Salirrosas, Elizabeth Emperatriz |
| author_browse | García-Salirrosas, Elizabeth Emperatriz Millones Liza, Dany Yudet |
| author_facet | Millones Liza, Dany Yudet García-Salirrosas, Elizabeth Emperatriz |
| author_sort | Millones Liza, Dany Yudet |
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| description | The objective of the study is to analyze the reliability and validity evidence based on the internal structure of the InCharge Finance Distress / Financial Wellbeing (IFDFW). It was administered to 545 citizens from the three regions of Peru (coast, the Andes and the rainforest). There were 296 women and 243 men, with an average age of 33.45 years (SD= 9.65). Confirmatory factor analysis provided adequate support for the 8-item one-dimensional model with the presence of correlated errors (CMIN= 58.635, DF = 17.00; CMIN/DF =3.449; CFI = 0.979; RMSEA= 0.067; SRMR= 0.032; and PClose = 0.061), also showed a good convergent internal validity based on the value of AVE = 0.554. Regarding reliability, a Cronbach's alpha = 0.881 and a CR= 0.91 are observed, which indicates adequate reliability of the one-dimensional model of the InCharge. The results suggest that the Peruvian version of the InCharge presents adequate psychometric evidence to measure the financial well-being of employees in a Peruvian context. Thus, it seeks to contribute to the advancement of the scientific study of financial well-being in Latin America. Received: 1 September 2023 / Accepted: 16 March 2024 / Published: 5 May 2024 |
| format | Article |
| id | oai:cris.upeu.edu.pe:20.500.15037/1388 |
| institution | UPeU |
| language | English |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
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| spelling | oai:cris.upeu.edu.pe:20.500.15037/13882026-10-30T16:15:43ZFinancial Well-Being Scale: Evidence of Validity and Reliability in Peruvian ContextMillones Liza, Dany YudetGarcía-Salirrosas, Elizabeth EmperatrizFinancial well-beingScalePeruReliabilityvalidityThe objective of the study is to analyze the reliability and validity evidence based on the internal structure of the InCharge Finance Distress / Financial Wellbeing (IFDFW). It was administered to 545 citizens from the three regions of Peru (coast, the Andes and the rainforest). There were 296 women and 243 men, with an average age of 33.45 years (SD= 9.65). Confirmatory factor analysis provided adequate support for the 8-item one-dimensional model with the presence of correlated errors (CMIN= 58.635, DF = 17.00; CMIN/DF =3.449; CFI = 0.979; RMSEA= 0.067; SRMR= 0.032; and PClose = 0.061), also showed a good convergent internal validity based on the value of AVE = 0.554. Regarding reliability, a Cronbach's alpha = 0.881 and a CR= 0.91 are observed, which indicates adequate reliability of the one-dimensional model of the InCharge. The results suggest that the Peruvian version of the InCharge presents adequate psychometric evidence to measure the financial well-being of employees in a Peruvian context. Thus, it seeks to contribute to the advancement of the scientific study of financial well-being in Latin America. Received: 1 September 2023 / Accepted: 16 March 2024 / Published: 5 May 2024Articlehttps://www.richtmann.org/journal/index.php/ajis/article/download/13789/13345http://dx.doi.org/10.36941/ajis-2024-008510.36941/ajis-2024-0085https://hdl.handle.net/20.500.15037/1388W4396653621enAcademic Journal of Interdisciplinary Studies2281-39932281-46122024-05-052026-06-13T09:56:41Z2026-06-13T09:56:41Z |
| spellingShingle | Financial well-being Scale Peru Reliability validity Millones Liza, Dany Yudet García-Salirrosas, Elizabeth Emperatriz Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title | Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title_full | Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title_fullStr | Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title_full_unstemmed | Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title_short | Financial Well-Being Scale: Evidence of Validity and Reliability in Peruvian Context |
| title_sort | financial well being scale evidence of validity and reliability in peruvian context |
| topic | Financial well-being Scale Peru Reliability validity |
| topic_facet | Financial well-being Scale Peru Reliability validity |
| url | https://www.richtmann.org/journal/index.php/ajis/article/download/13789/13345 http://dx.doi.org/10.36941/ajis-2024-0085 https://hdl.handle.net/20.500.15037/1388 |
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