Financial Stress

Abstract

The Financial Stress Questionnaire is a 9-item instrument, developed by the Fast Track project, that explores sources of household spending and adequacy of funds for paying bills. The Questionnaire is administered to parents. The parent is asked to evaluate the affordability of 7 spending sources in the household (home, clothing, furniture, car, food, medical care and leisure) on a 1 to 5 scale (strongly agree, agree, neutral, disagree, strongly disagree); how much difficulty he/she had to pay the bills on a 1 to 5 scale (a great of difficulty to no difficulty at all) and how much money was left at the end of the month on a 1 to 4 scale (not enough, just enough, some money left, more than enough money left over). This measure has been administered since spring of 1994.

This measure contains no subscales. A score is calculated as the mean of the seven spending source items times 7. Item scores for the two questions that explore adequacy of monthly funds are reported separately.

T-tests of means show significant differences between the normative and control groups for the Spending Source Score and for Item 8: Difficulty Paying Bills. Alpha coefficients for the Spending Source Score suggests that this score is useful. Researchers should note that the order in which responses for Item 8 and Item 9 are coded is in the opposite direction from Items 1-7.

Dataset Names

Raw Dataset Name: PyU
Scored Dataset Name: FSIySPc

Keywords

Family Finances, Financial Difficulties, Household Expenses, Money.