Measuring financial well-being: A guide to using the CFPB Financial Well-Being Scale

Measuring financial well-being: A guide to using the CFPB Financial Well-Being Scale

Abstract

Following a rigorous research effort to develop a consumer-driven definition of financial well-being, the CFPB developed and tested a set of questions–a “scale”–to measure financial well-being.

The scale is designed to allow practitioners and researchers to accurately and consistently quantify, and therefore observe, something that is not directly observable–the extent to which someone’s financial situation and the financial capability that they have developed provide them with security and freedom of choice.

Full content of the publication

Tags

Financial education Financial literacy Financial welfare Medición de la educación financiera Research Note Strategies for financial education

Authors

CFPB

Additional Information

Date published

01/12/2015

Document Type

Research

Geographies

Global

Target

General

Pages

31

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