Exploring the Link Between Financial Health Indicators: Insights from Perception, Lived Experiences and Financial Resilience: A Study on Employees of a Sugar Mill Company

Esmeralda Tejada-Peña, Arturo García-Santillán () and Belem Alejandra Contreras-Rodríguez
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Esmeralda Tejada-Peña: Economic-Administrative Center, Tecnologico Nacional de Mexico Campus Tuxtepec, Oaxaca 68350, Mexico
Arturo García-Santillán: UCC Business School, Cristobal Colon University, Veracruz 94274, Mexico
Belem Alejandra Contreras-Rodríguez: Facultad de Administración, Universidad Veracruzana Veracruz, Veracruz 91780, Mexico

JRFM, 2025, vol. 18, issue 11, 1-18

Abstract: The purpose of this study was to assess workers’ perceptions, experiences, and strategies related to financial health, with the goal of identifying and validating a model of financial resilience aligned with theoretical and empirical fit criteria. A sequential quantitative approach was employed, combining exploratory factor analysis (EFA) to uncover latent dimensions, followed by confirmatory factor analysis (CFA) to validate the resulting structure. This dual methodology was designed to ensure both empirical robustness and theoretical coherence. The study used a non-experimental, cross-sectional design and drew on survey data from 311 employees of a sugar company in San Juan Bautista Tuxtepec, Oaxaca, selected through a non-probabilistic self-selection sampling method. The instrument, based on existing models was administered electronically. Internal consistency was assessed using Cronbach’s alpha (α), McDonald’s omega (ω), composite reliability (CR), and average variance extracted (AVE), while multivariate normality was also examined. Findings reveal that financial resilience encompasses not only recovery from financial shocks but also proactive financial behaviors such as budgeting, long-term saving, and responsible debt management. Respondents emphasized the role of credit history, insurance access, and perceived financial autonomy in promoting both financial stability and emotional well-being. These results contribute to the theoretical conceptualization of financial resilience and have practical implications for policy and financial education with a preventive and mental health-oriented perspective.

Keywords: financial resilience; workers; financial indicators (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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