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<p>Financial resilience refers to the ability to withstand and recover from financial adversity. Despite its increasing relevance, there is a notable lack of well-constructed and psychometrically validated tools to measure this construct. This study aimed to develop and validate the Brief Financial Resilience Scale (BFRS), based on Salignac et al. (<i>Social Indicators Research</i>, <i>145</i>(1), 17–38, 2019) multidimensional framework. The process involved content validation using Lawshe’s method, followed by item analysis, exploratory factor analysis, and confirmatory factor analysis using data from a community sample of 433 Indian millennials. The results support a two-dimensional structure: (a) financial resources and access, and (b) financial knowledge and behavior. The final 10-item BFRS demonstrated acceptable reliability (Cronbach’s alpha = 0.885) and construct validity. The scale would be useful for policymakers, practitioners, and researchers in identifying vulnerabilities and design targeted interventions within diverse socioeconomic contexts.</p>

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Development and Validation of the Brief Financial Resilience Scale

  • 期刊论文

  • 发表日期：

    2025年7月15日

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  • Manjusha C. Rayampatt,
  • Santhosh Kareepadath Rajan

摘要

Financial resilience refers to the ability to withstand and recover from financial adversity. Despite its increasing relevance, there is a notable lack of well-constructed and psychometrically validated tools to measure this construct. This study aimed to develop and validate the Brief Financial Resilience Scale (BFRS), based on Salignac et al. (Social Indicators Research, 145(1), 17–38, 2019) multidimensional framework. The process involved content validation using Lawshe’s method, followed by item analysis, exploratory factor analysis, and confirmatory factor analysis using data from a community sample of 433 Indian millennials. The results support a two-dimensional structure: (a) financial resources and access, and (b) financial knowledge and behavior. The final 10-item BFRS demonstrated acceptable reliability (Cronbach’s alpha = 0.885) and construct validity. The scale would be useful for policymakers, practitioners, and researchers in identifying vulnerabilities and design targeted interventions within diverse socioeconomic contexts.