Abstract:

The purpose of this study was to examine the validity and reliability of Financial Well Being Scale developed by Norvilitis, Szablicki, and Wilson (2003) for university students. In this study scales were investigated under the name of Financial Well-Being Scale (FWBS). FWBS was administrated to 246 university students and Credit Card Attitude Scale (CCAS) was used for the criterion validity. In order to determine the construct validity of FWBS, factor analysis was conducted by using principal compenents analysis with varimax rotation. The factor analysis resulted in two factors. The correlation coefficents of the FWBS subscales with CCAS subscales are calculated and the results were both statistically significant and found to be in the expected direction. The Cronbach’s Alpha coefficent of the FWBS was 0,79. Analysis revealed that FWBS has satisfactory level of reliability and validity on Turkish university students

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