Development and Validation of the Brief Financial Resilience Scale

Manjusha C. Rayampatt () and Santhosh Kareepadath Rajan
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Manjusha C. Rayampatt: Christ University
Santhosh Kareepadath Rajan: Christ University

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2025, vol. 179, issue 3, No 11, 1417-1430

Abstract: Abstract Financial resilience refers to the ability to withstand and recover from financial adversity. Despite its increasing relevance, there is a notable lack of well-constructed and psychometrically validated tools to measure this construct. This study aimed to develop and validate the Brief Financial Resilience Scale (BFRS), based on Salignac et al. (Social Indicators Research, 145(1), 17–38, 2019) multidimensional framework. The process involved content validation using Lawshe’s method, followed by item analysis, exploratory factor analysis, and confirmatory factor analysis using data from a community sample of 433 Indian millennials. The results support a two-dimensional structure: (a) financial resources and access, and (b) financial knowledge and behavior. The final 10-item BFRS demonstrated acceptable reliability (Cronbach’s alpha = 0.885) and construct validity. The scale would be useful for policymakers, practitioners, and researchers in identifying vulnerabilities and design targeted interventions within diverse socioeconomic contexts.

Keywords: Financial resilience; Financial security; Financial vulnerability; Economic wellbeing; Scale development; Resilience assessment (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s11205-025-03673-z

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