Assessing Financial Wellness via Computer-Assisted Telephone Interviews

14 Pages Posted: 16 May 2012

Date Written: 2010

Abstract

The current study reports on the first use of the Personal Financial Wellness ScaleTM in random-digit-dial computer-assisted telephone interviews. The scale was modified for telephone interviews, fielded in a survey of 515 married adults, then assessed using alternative methods that accounted for missing data common in telephone interviews. Confirmatory factor models verified that the scale was robust as both a single and two- construct measure of subjective and objective financial wellness. The modified scale produced low levels of missing data, was not affected by location in the instrument, and exhibited excellent internal reliability under varied assumptions. Recommendations for the use of the scale in telephone interviews, including scale modification, subscale possibilities, and the utility of multiple imputation of missing items, are offered.

Keywords: computer-assisted telephone interviews, financial well-being, personal financial wellness

Suggested Citation

Nielsen, Robert B., Assessing Financial Wellness via Computer-Assisted Telephone Interviews (2010). Journal of Financial Counseling and Planning, Vol. 21, No. 2, 2010, Available at SSRN: https://ssrn.com/abstract=2061273

Robert B. Nielsen (Contact Author)

affiliation not provided to SSRN ( email )

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