Beyond Traditional Metrics: Developing and Validating a Multidimensional Scale for Consumer Financial Well‐Being
Beyond Traditional Metrics: Developing and Validating a Multidimensional Scale for Consumer Financial Well‐Being Summary This paper develops and validates a new, consumer-centred scale for Consumer Financial Well‑Being (CFW). The authors propose CFW as a second‑order reflective construct measured by four first‑order dimensions: Financial Wisdom, Financial Security, Financial Preparedness & Satisfaction, and Financial Resilience. The scale […]