Trends in Psychiatry and Psychotherapy
https://trends.org.br/article/doi/10.47626/2237-6089-2020-0034
Trends in Psychiatry and Psychotherapy
Original Article

Translation, cross-cultural adaptation, and psychometric properties of the Brazilian Portuguese version of the Consumer Financial Protection Bureau Financial Well-Being scale

Anna Beatriz Carnielli Howat-Rodrigues, Jerson Laks, Valeska Marinho

Downloads: 0
Views: 424

Abstract

Objectives: To translate and back-translate the Consumer Financial Protection Bureau (CFPB) Financial Well-Being Scale into Brazilian Portuguese, to assess its cross-cultural semantic equivalence, and to verify the psychometric properties of the final version. Methods: Adaptation of the original scale applied a three-step methodology: translation and backtranslation, appreciation of semantic equivalence, and administration to a convenience sample of 834 subjects. The analysis of psychometric properties comprised evaluation of evidence of the instrument’s validity by factor analysis, validity by contrasting groups, and internal consistency with Cronbach’s alpha coefficient. The CFPB granted authorization to conduct cross-cultural adaptation into Brazilian Portuguese. Results: Results indicated adequate cultural adaptation between scales, with good equivalence between the original English version and the final Brazilian version. The Cronbach’s alpha coefficient for the instrument’s internal consistency in this sample was 0.89. Exploratory and confirmatory factor analyses demonstrated high levels of item reliability and goodness of fit, with all 10 items loading onto a single factor, financial well-being. The measure has shown structural stability in two different cultural contexts (Brazil and the USA). Conclusion: The Brazilian version demonstrated acceptable psychometric properties and adequate structural and cross-cultural validity and the participants found it easy to understand.

Keywords

Financial well-being, surveys and questionnaires, cross-cultural, validation studies.

References

1. Consumer Financial Protection Bureau. Financial well being: the goal of financial education [internet]. 2015 Jan [Cited 2020 Jul 22]. files.consumerfinance.gov/f/201501_cfpb_report_financialwell-being.pdf

2. Consumer Financial Protection Bureau. Measuring financial well-being: a guide to using the CFPB financial well-being scale [internet]. [Cited 2020 Jul 22]. www.consumerfinance.gov/dataresearch/research-reports/financial-well-being-scale/

3. Prawitz A, Garman ET, Sorhaindo B, O’Neill B, Kim J, Drentea P. Incharge financial distress/financial well-being scale: development, administration, and score interpretation. J Financ Couns Plan. 2006;17:34-50.

4. Zyphur MJ, Li WD, Zhang Z, Arvey RD, Barsky AP. Income, personality, and subjective financial well-being: the role of gender in their genetic and environmental relationships. Front Psychol. 2015;6:1493.

5. Gutter M, Copur Z. Financial behaviors and financial well-being of college students: evidence from a national survey. J Fam Econ Issues. 2011;32:699-714.

6. Henchoz Y, Botrugno F, Cornaz S, Büla C, Charef S, SantosEggimann B, et al. Determinants of quality of life in community-dwelling older adults: comparing three cut-offs on the excellentto-poor spectrum. Qual Life Res. 2017;26:283-9.

7. Mills R, Grasmick H, Morgan C, Wenk D. The effects of gender, family satisfaction, and economic strain on psychological wellbeing. Fam Relat. 1992;41:440-5.

8. Holmgren R, Nilsson Sundström E, Levinsson H, Ahlström R. Coping and financial strain as predictors of mental illness in overindebted individuals in Sweden. Scand J Psychol. 2019;60:50-8.

9. Consumer Financial Protection Bureau. Financial Well-Being Scale: scale development technical report [internet]. [Cited 2020 July 22]. www.consumerfinance.gov/data-research/researchreports/financial-well-being-technical-report/

10. Beaton DE, Bombardier C, Guillemin F, Ferraz MB. Guidelines for the process of cross-cultural adaptation of self-report measures. Spine. 2000;25:3186-91.

11. Associação Brasileira de Empresas de Pesquisa (ABEP). Brazilian Criteria 2015 and social class distribution update for 2016 [internet]. [Cited 2020 July 22]. www.abep.org/criterio-brasil

12. Howat-Rodrigues AB, Tokumaru RS. Scale of family unpredictability during childhood: validity evidence. Paidéia (Ribeirão Preto). 2014;24:11-20.

13. Byrne BM. Structural equation modeling with Mplus. New York: Routledge; 2012.

14. Collard S, Hayes D. Financial wellbeing in later life: evidence and policy. London: ILC-UK; 2014 Mar [cited 2020 Mar 24]. www.bristol.ac.uk/media-library/sites/geography/migrated/documents/pfrc1402.pdf

612d223da95395173963b4f3 trends Articles
Links & Downloads

Trends Psychiatry Psychother

Share this page
Page Sections