Validating the Executive Personal Finance Scale with Financial Investments and Expectations in University Students.
The validity of the Executive Personal Finance Scale (EPFS) was tested in a sample of 93 undergraduate students (31 men, 62 women; M age = 20.5 years, SD = 1.3, range = 18-24). Scores on the Motivation drive, Organization, and Planning subscales of this scale were associated with having a savings account, owning bank CDs, and self-estimated knowledge about financial matters, while scores on the Impulse control and Motivational drive subscales were associated with expectations for a satisfactory retirement income. The results provide support for the validity of the EPFS.
Drexel University, USA.
Bijou
B
Yang
Stockton University, USA David.Lester@stockton.edu.
David
D
Lester
D000293:Adolescent; D000328:Adult; D005260:Female; D006801:Humans; D007175:Impulsive Behavior; D007449:Investments; D008297:Male; D011594:Psychometrics / Q000295:instrumentation*; D015203:Reproducibility of Results; D013334:Students / Q000523:psychology*; D011795:Surveys and Questionnaires / Q000592:standards*; D014495:Universities; D055815:Young Adult
financial literacy; impulsivity; personal finance