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<p>The Klontz Money Script Inventory-Revised (KMSI-R) is a widely used scale that assesses individuals’ money scripts or beliefs. Money scripts have been used by professionals to help consumers avoid or navigate negative money behaviors. Financial measurements, such as the KMSI-R, are helpful when they can be applied to a diverse range of consumers. However, previous studies assessing the reliability and validity of the KMSI-R have largely used White samples. This study examines the factorial validity, internal consistency (i.e., reliability), and measurement invariance of the KMSI-R using a diverse sample of respondents. Using a proprietary dataset with a final sample of 2686 respondents, the authors found that the measurement’s internal consistency was reasonable for all items (<InlineEquation ID="IEq1"> <InlineMediaObject> <ImageObject Color="BlackWhite" FileRef="10834_2025_10055_Article_IEq1.gif" Format="GIF" Height="16" Rendition="HTML" Resolution="72" Type="Linedraw" Width="63" /> </InlineMediaObject> <EquationSource Format="TEX">\(\underline{\upalpha}=.863\)</EquationSource> </InlineEquation>). However, factorial validity was not supported, with poor fit indices for the four-factor model (X<sup>2</sup>(458)&#xa0;=&#xa0;3912.96, RMSEA&#xa0;=&#xa0;.053, CFI&#xa0;=&#xa0;.762, TLI&#xa0;=&#xa0;.742). Improvements in fit were observed after removing items with low loadings and applying theoretically relevant modifications (X<sup>2</sup>(96)&#xa0;=&#xa0;610.249, RMSEA&#xa0;=&#xa0;.045, CFI&#xa0;=&#xa0;.930, TLI&#xa0;=&#xa0;.912). Measurement invariance across racial and ethnic groups was not supported. The findings suggest that the KMSI-R needs significant revision before it can be used with diverse populations. We recommend that further research explore why factorial validity and measurement invariance were not supported.</p>

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Evaluating the Klontz Money Script Inventory-Revised (KMSI-R): Factorial Validity, Internal Consistency, and Measurement Invariance with a Diverse Sample

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  • 发表日期：

    2025年9月27日

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  • Miranda Reiter,
  • Jesse B. Jurgenson,
  • Megan McCoy,
  • Kimberly Watkins,
  • Kenneth White,
  • Dee Warmath

摘要

The Klontz Money Script Inventory-Revised (KMSI-R) is a widely used scale that assesses individuals’ money scripts or beliefs. Money scripts have been used by professionals to help consumers avoid or navigate negative money behaviors. Financial measurements, such as the KMSI-R, are helpful when they can be applied to a diverse range of consumers. However, previous studies assessing the reliability and validity of the KMSI-R have largely used White samples. This study examines the factorial validity, internal consistency (i.e., reliability), and measurement invariance of the KMSI-R using a diverse sample of respondents. Using a proprietary dataset with a final sample of 2686 respondents, the authors found that the measurement’s internal consistency was reasonable for all items ( \(\underline{\upalpha}=.863\) ). However, factorial validity was not supported, with poor fit indices for the four-factor model (X2(458) = 3912.96, RMSEA = .053, CFI = .762, TLI = .742). Improvements in fit were observed after removing items with low loadings and applying theoretically relevant modifications (X2(96) = 610.249, RMSEA = .045, CFI = .930, TLI = .912). Measurement invariance across racial and ethnic groups was not supported. The findings suggest that the KMSI-R needs significant revision before it can be used with diverse populations. We recommend that further research explore why factorial validity and measurement invariance were not supported.