Rasch Analysis of a Financial Self-Efficacy Scale Distributed Among College Students

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Abstract

In this paper, I used the Rasch Measurement Theory to assess the validity of seven survey questions that were used to measure college students’ level of financial self-efficacy. These seven questions were a subsection of a Financial Wellness Survey (FWS) which was administered electronically to college students at a public university located in the southeastern region of the United States. Upon the conclusion of my data analysis, the Rasch Rating Scale Model (RSM) determined that one of the survey questions may need to be reworded due to its negative connotations and that only two of the seven questions may be valid indicators of measuring a person’s financial self-efficacy.

Author

• Heather Cowherd, University of Kentucky