Apr Financial Stress Scale: Development And Validation Of A Multidimensional Measurement, Wookjae Heo, Soo Hyun Cho, Philseok Lee

Journal of Financial Therapy

People usually experience financial stress in managing their financial resources. Despite financial stress’s importance in life outcomes and the need for a comprehensive and theory-based measurement of the construct, few studies have addressed the conceptual issues of financial stress and its measurement. Hence, by borrowing from theories of general stress, this study attempts to fill this gap. Using an expert panel and two separate online survey samples, we developed and validated a novel financial stress scale. A total of 688 responses were used in an exploratory factor analysis and 1,115 responses were used in a confirmatory factor analysis. This multidimensional …

How Do Money, Sex, And Stress Influence Marital Instability?, E. Jeffrey Hill, David B. Allsop, Ashley B. Lebaron, Roy A. Bean

Journal of Financial Therapy

This study explored how money and sex simultaneously predicted marital instability, and what financial therapists might focus on with clients to address problems in these areas. Specifically, this paper concurrently examined the relationship of marital instability to financial and family stressors (financial stressors, work-family conflict, and parenting stressors); financial and sexual resources (couple income and couple sexual frequency); and financial and sexual perceptions (financial dissatisfaction and sexual dissatisfaction). Couple financial communication and couple relational communication were explored as intervention points for financial therapists. Data came from Wave 2 of the Flourishing Families data set (N = 301). Data were organized …

Financial Anxiety, Physiological Arousal, And Planning Intention, John Grable, Wookjae Heo, Abed Rabbani

Journal of Financial Therapy

Results from this exploratory clinical study indicate that financial anxiety—holding an unhealthy attitude about one’s financial situation—and physiological arousal—the physical precursor to behavior—play important roles in shaping consumer intention to engage in future financial planning activity. Findings suggest that those who are most likely to engage the services of a financial adviser exhibit low levels of financial anxiety and moderate to high levels of physiological arousal. The least likely to seek the help of a financial adviser are those who exhibit high financial anxiety and low physiological arousal. Results support findings documented in the literature that high anxiety levels often …