Nielsen, R. B. (2010). Assessing financial wellness via computer-assisted telephone interviews. Journal of Financial Counseling and Planning 21(2), pp. 16-29.

http://6aa7f5c4a9901a3e1a1682793cd11f5a6b732d29.gripelements.com/pdf/vol_21_issue_2_robertnielsen.pdf

Brief Description:   Researchers tested a modified version of The Personal Finance Wellness Scale^TM for use in computer assisted telephone interviews (CATI).  Married adults were surveyed, and results indicated it is robust with respect to a single measure of financial wellness as well as dividing the concept into subjective and objective components. Because of the low level of missing data for the scale items (2.7%), it appears that the eight items are “non intrusive.” Responses were not significantly different by placement of the items in the interview, and strong internal reliability was confirmed.

Implications:   Researchers are encouraged to use this modified version of the Personal Finance Wellness Scale^TM (included in the Appendix of the article) for research on varied populations to establish the validity and reliability of the scale.

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