Parent Financial Socialization Scale: Development and preliminary validation.

A theoretically grounded, validated measure of parent financial socialization is needed. This article describes the development and validation process of three new scales: the Parent Financial Modeling Scale (eight items), the Parent-Child Financial Discussion Scale (nine items), and the Experiential Learning of Finances Scale (three items). These may be treated as subscales of a multidimensional latent construct: the Parent Financial Socialization Scale (20 items).