VALIDITY AND RELIABILITY ANALYSIS OF A FINANCIAL LITERACY SCALE IN UNIVERSITY STUDENTS IN PERU

Mervin Juan Chávez-Ruiz; Elizabeth Emperatriz García-Salirrosas; Ghenkis A. Ezcurra-Zavaleta; Jesús Fernando Bejarano-Auqui

VALIDITY AND RELIABILITY ANALYSIS OF A FINANCIAL LITERACY SCALE IN UNIVERSITY STUDENTS IN PERU

Mervin Juan Chávez-Ruiz
, Elizabeth Emperatriz García-Salirrosas
, Ghenkis A. Ezcurra-Zavaleta
, Jesús Fernando Bejarano-Auqui

Universidad Peruana Unión
Universidad Autónoma del Perú

Research output: Contribution to journal › Article › peer-review

Abstract

The relevance and urgency of financial education have been notable in recent years as it seeks to contribute to the common good of society, particularly for the younger population. This study presents a validated financial literacy (FL) scale for Peruvian university students with a favorable degree of reliability. The FL scale analyzed includes two dimensions: financial behavior and attitude. To carry out this study, 400 university students from 15 different public and private universities from the coast, mountains, and jungle of Peru were surveyed. Confirmatory factor analysis provided adequate support for the two-factor model with 11 items (CMIN/DF =2.602; CFI =0.974; RMSEA =0.063; SRMR =0.045; and PClose =0.061), in addition to showing good internal consistency based on the values of Alpha (0.915, 0.873) and CR (0.916, 0.875). The results suggest that the scale presents adequate psychometric evidence to measure financial literacy in university students. Thus, it aims to contribute to the advancement of the scientific study of financial education in Peru.

Translated title of the contribution	ANÁLISIS DE VALIDEZ Y CONFIABILIDAD DE UNA ESCALA DE ALFABETIZACIÓN FINANCIERA EN ESTUDIANTES UNIVERSITARIOS DEL PERÚ
Original language	English
Pages (from-to)	146-153
Number of pages	8
Journal	Interciencia
Volume	50
Issue number	3
State	Published - Mar 2025

Bibliographical note

Publisher Copyright:
© 2025 Interciencia Association. All rights reserved.

Keywords

Confirmatory Factor Analysis and Structural Model
Financial Attitude
Financial Behavior
Financial Literacy

Cite this

@article{26e58f800c384ca38a0fa662b10305a7,

title = "VALIDITY AND RELIABILITY ANALYSIS OF A FINANCIAL LITERACY SCALE IN UNIVERSITY STUDENTS IN PERU",

abstract = "The relevance and urgency of financial education have been notable in recent years as it seeks to contribute to the common good of society, particularly for the younger population. This study presents a validated financial literacy (FL) scale for Peruvian university students with a favorable degree of reliability. The FL scale analyzed includes two dimensions: financial behavior and attitude. To carry out this study, 400 university students from 15 different public and private universities from the coast, mountains, and jungle of Peru were surveyed. Confirmatory factor analysis provided adequate support for the two-factor model with 11 items (CMIN/DF =2.602; CFI =0.974; RMSEA =0.063; SRMR =0.045; and PClose =0.061), in addition to showing good internal consistency based on the values of Alpha (0.915, 0.873) and CR (0.916, 0.875). The results suggest that the scale presents adequate psychometric evidence to measure financial literacy in university students. Thus, it aims to contribute to the advancement of the scientific study of financial education in Peru.",

keywords = "Confirmatory Factor Analysis and Structural Model, Financial Attitude, Financial Behavior, Financial Literacy",

author = "Ch{\'a}vez-Ruiz, \{Mervin Juan\} and Garc{\'i}a-Salirrosas, \{Elizabeth Emperatriz\} and Ezcurra-Zavaleta, \{Ghenkis A.\} and Bejarano-Auqui, \{Jes{\'u}s Fernando\}",

year = "2025",

month = mar,

language = "Ingl{\'e}s",

volume = "50",

pages = "146--153",

journal = "Interciencia",

issn = "0378-1844",

publisher = "Interciencia Association",

number = "3",

}

TY - JOUR

T1 - VALIDITY AND RELIABILITY ANALYSIS OF A FINANCIAL LITERACY SCALE IN UNIVERSITY STUDENTS IN PERU

AU - Chávez-Ruiz, Mervin Juan

AU - García-Salirrosas, Elizabeth Emperatriz

AU - Ezcurra-Zavaleta, Ghenkis A.

AU - Bejarano-Auqui, Jesús Fernando

PY - 2025/3

Y1 - 2025/3

N2 - The relevance and urgency of financial education have been notable in recent years as it seeks to contribute to the common good of society, particularly for the younger population. This study presents a validated financial literacy (FL) scale for Peruvian university students with a favorable degree of reliability. The FL scale analyzed includes two dimensions: financial behavior and attitude. To carry out this study, 400 university students from 15 different public and private universities from the coast, mountains, and jungle of Peru were surveyed. Confirmatory factor analysis provided adequate support for the two-factor model with 11 items (CMIN/DF =2.602; CFI =0.974; RMSEA =0.063; SRMR =0.045; and PClose =0.061), in addition to showing good internal consistency based on the values of Alpha (0.915, 0.873) and CR (0.916, 0.875). The results suggest that the scale presents adequate psychometric evidence to measure financial literacy in university students. Thus, it aims to contribute to the advancement of the scientific study of financial education in Peru.

AB - The relevance and urgency of financial education have been notable in recent years as it seeks to contribute to the common good of society, particularly for the younger population. This study presents a validated financial literacy (FL) scale for Peruvian university students with a favorable degree of reliability. The FL scale analyzed includes two dimensions: financial behavior and attitude. To carry out this study, 400 university students from 15 different public and private universities from the coast, mountains, and jungle of Peru were surveyed. Confirmatory factor analysis provided adequate support for the two-factor model with 11 items (CMIN/DF =2.602; CFI =0.974; RMSEA =0.063; SRMR =0.045; and PClose =0.061), in addition to showing good internal consistency based on the values of Alpha (0.915, 0.873) and CR (0.916, 0.875). The results suggest that the scale presents adequate psychometric evidence to measure financial literacy in university students. Thus, it aims to contribute to the advancement of the scientific study of financial education in Peru.

KW - Confirmatory Factor Analysis and Structural Model

KW - Financial Attitude

KW - Financial Behavior

KW - Financial Literacy

UR - https://www.scopus.com/pages/publications/105003644276

M3 - Artículo

AN - SCOPUS:105003644276

SN - 0378-1844

VL - 50

SP - 146

EP - 153

JO - Interciencia

JF - Interciencia

IS - 3

ER -

VALIDITY AND RELIABILITY ANALYSIS OF A FINANCIAL LITERACY SCALE IN UNIVERSITY STUDENTS IN PERU

Abstract

Bibliographical note

Keywords

Other files and links

Fingerprint

Cite this