Developing and Validating the Scale of Economic Self-Efficacy

Area of Science:

• Psychology
• Sociology
• Economics

Background:

• Intimate partner violence (IPV) and financial hardship are frequently linked.
• Economic abuse tactics within abusive relationships can hinder survivors' financial independence.
• Financial literacy programs aim to empower IPV survivors, but psychological factors like economic self-efficacy are crucial.

Purpose of the Study:

• To test the reliability and validity of the Scale of Economic Self-Efficacy (ESE) among female survivors of IPV.
• To assess the ESE scale's utility in understanding financial behaviors and empowerment in this population.

Main Methods:

• Utilized a calibration and validation analysis model with exploratory and confirmatory factor analyses.
• Assessed internal consistency and examined correlations between ESE, economic self-sufficiency, financial strain, and income difficulties.
• Employed a sample of female survivors of intimate partner violence.

Main Results:

• The 10-item, unidimensional Scale of Economic Self-Efficacy demonstrated strong reliability and validity.
• Findings confirmed the scale's effectiveness within the studied sample of IPV survivors.
• Economic self-efficacy emerged as a key psychological factor influencing financial decision-making.

Conclusions:

• The Scale of Economic Self-Efficacy is a reliable and valid tool for assessing financial confidence in IPV survivors.
• Understanding economic self-efficacy can lead to more individualized support services for survivors.
• The ESE scale is a relevant tool for designing and evaluating financial empowerment programs for IPV survivors.