Young Ages, Big Decisions: Development and Initial Validation of the Multidimensional Financial Literacy Scale for Adolescents

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Üztemur S., Gökalp A., Çengelci Köse T.

New Educational Review, cilt.80, sa.2, ss.173-186, 2025 (Scopus) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 80 Sayı: 2
  • Basım Tarihi: 2025
  • Doi Numarası: 10.15804/tner.2025.80.2.12
  • Dergi Adı: New Educational Review
  • Derginin Tarandığı İndeksler: Scopus, EBSCO Education Source
  • Sayfa Sayıları: ss.173-186
  • Anahtar Kelimeler: adolescents, financial literacy, psychometric testing, scale development
  • Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
  • Anadolu Üniversitesi Adresli: Evet

Özet

This study developed the Financial Literacy Scale for Adolescents (FLSADO) to assess adolescents’ financial literacy and examined its psychometric properties. Exploratory (n = 382) and confirmatory (n = 512) factor analyses revealed an 18-item scale with three subscales: conscious consumption, savings and future planning, and the meaning of money, explaining 50.16% of the variance. A brief five-item version (FLSADO-5) was created based on EFA loadings, representing all sub-dimensions and accounting for 33.92% of the variance. CFA supported both the three-factor structure of FLSADO and the unidimensional structure of FLSADO-5. Internal consistency coefficients indicated good reliability for both versions. Correlations with external measures supported concurrent validity.