Financial Management Behavior Scale (FMBS)

This Financial Management Behavior Scale consists of 15 questions that can be administered as a pre-post assessment.
For short programs that occur once for a full day or less, this survey will help assess the current state of financial literacy or general financial situations of participants. Short programs should consider asking participants to complete the survey in advance of participating in the workshop.

Longer programs that consist of multiple sessions over a period of time should ask participants to complete the survey before and after completing the program to assess changes in participant's financial behaviors.


Number of Questions
Creator(s) of Tool
Dew, J. P., & Xiao, J. J. (2011). The Financial Management Behavior Scale: Development and validation. Journal of Financial Counseling and Planning, 22 (1), 19–35.

This scale was developed with the support of the National Center for Family and Marriage Research.
Scoring / Benchmarking
Compute scores for individual participants using the following calculations. Assign the following values to each response: never=1, seldom=2, sometimes=3, often=4, always=5. Sum the values across the 15 questions to get the participant's score. The scale ranges from 15-75 with higher scores demonstrating positive financial behavior.
Background / Quality
The full scale had adequate reliability (Cronbach’s alpha = .81). Analysis shows that the FMBS does measure what it purports to measure.
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