Abstract
Objective:
To translate and back-translate the Consumer Financial Protection Bureau (CFPB) Financial Well-Being Scale into Brazilian Portuguese, to assess its cross-cultural semantic equivalence, and to verify the psychometric properties of the final version.
Methods:
Adaptation of the original scale applied a three-step methodology: translation and back-translation, appreciation of semantic equivalence, and administration to a convenience sample of 834 subjects. The analysis of psychometric properties comprised evaluation of evidence of the instrument’s validity by factor analysis, validity by contrasting groups, and internal consistency with Cronbach’s alpha coefficient. The CFPB granted authorization to conduct cross-cultural adaptation into Brazilian Portuguese.
Results:
Results indicated adequate cultural adaptation between scales, with good equivalence between the original English version and the final Brazilian version. The Cronbach’s alpha coefficient for the instrument’s internal consistency in this sample was 0.89. Exploratory and confirmatory factor analyses demonstrated high levels of item reliability and goodness of fit, with all 10 items loading onto a single factor, financial well-being. The measure has shown structural stability in two different cultural contexts (Brazil and the USA).
Conclusion:
The Brazilian version demonstrated acceptable psychometric properties and adequate structural and cross-cultural validity and the participants found it easy to understand.
Keywords:
Financial well-being; surveys and questionnaires; cross-cultural; validation studies
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