Transforming Impossible into Possible (TIP) for Financial Capability: Application of Practice-Based Program Theory and Measures in Intervention Design

Abstract

Purpose: Financial knowledge often does not translate into financial well-being. This study looks at how knowledge might be converted to well-being for people living in low-income environments, based on a theory called Financial PSS. Methods: The study tests the validity of the two scales that make up Financial PSS: Perceived Financial Barriers and Financial Hope. Then it examines how these measures along with an intervention measure called TIP are associated with financial capability. Results: Results validated the Perceived Financial Barrier Scale and Financial Hope Scale. Next, the study found that the Perceived Financial Barriers Scale and the Financial Hope Scale are associated with financial capability, as is the TIP score. Conclusions: The study concludes that Financial PSS as a newly applied practice-based theory should be further tested. Workforce providers could integrate financial education and empowerment-based F-PSS process models and see a positive impact on their placement and retention outcomes.

Keywords

program theory psychological self-sufficiency financial capability financial hope perceived financial barriers social intervention Transforming Impossible into Possible (TIP)

Get full access to this article

View all access options for this article.

References

Allmark

Machaczek

(2015). Financial capability, health and disability. BMC Public Health, 15(1), 243–243. https://doi.org/10.1186/s12889-015-1589-5

Anderson

M. A.

Brown

Cavadel

E. W.

Derr

Kauff

J. F.

(2018). Using psychology-informed strategies to promote self-sufficiency: A review of innovative programs (OPRE Report #2018-41). Office of Planning, Research and Evaluation, Administration for Children and Families, U.S. Department of Health and Human Services. https://www.acf.hhs.gov/sites/default/files/documents/opre/goals_program_brief_508.pdf

Bauman

L. J.

Stein

R. E. K.

Ireys

H. T.

(1991). Reinventing fidelity: The transfer of social technology among settings. American Journal of Community Psychology, 19(4), 619–639. https://doi.org/10.1007 = BF00937995

Birkenmaier

Sherraden

M. S.

Curley

(2013). Financial capability and asset development. Oxford University Press.

Borghans

Duckworth

A. L.

Heckman

J. J.

Ter Weel

(2008). The economics and psychology of personality traits. Journal of Human Resources, 43(4), 972–1059. https://doi.org/10.1353/jhr.2008.0017

Brooks

Wiedrich

(2013). Assets & opportunity score card: Living on the edge: Financial insecurity and policies to rebuild prosperity in America. Corporation for Enterprise Development. http://library.cppp.org/files/2/2012%20Assets%20and%20Opportunity%20Scorecard.pdf

Buckland

(2010). Are low-income Canadians financially literate? Placing financial literacy in the context of personal and structural constraints. Adult Education Quarterly, 60(4), 357–376. https://doi.org/10.1177/0741713609358449

Chen

Gully

S. M.

Eden

(2001). Validation of a new general self-efficacy scale. Organizational Research Methods, 4(1), 62–83. https://doi.org/10.1177/109442810141004

Chen

H. T.

Garbe

(2011). Assessing program outcomes from the bottom-up approach: An innovative perspective to outcome evaluation. New Directions for Evaluation, 2011(130), 93–106. https://doi.org/10.1002/ev.368

10.

Collins

J. M.

O’Rourke

(2013). Financial Capability Scale (FCS), University of Wisconsin Madison, Center for Financial Security. Retrieved December 10, 2021, from https://doi.org/10.5281/zenodo.57102.

11.

Corporation for Enterprise Development. (2013). Why assets matter: An overview of research on assets and their effect on financial stability and economic opportunity. Retrieved December 10, 2021, from https://prosperitynow.org/files/PDFs/financial_capability_planning_guide/WhyAssetsMatter_2013updates.pdf

12.

Costello

Osborne

(2005). Best practices in exploratory factor analysis: Four recommendations for getting the most from your analysis. Practical Assessment, Research, and Evaluation, 10(1). https://doi.org/10.7275/jyj1-4868

13.

De Meza

Irlenbusch

Reyniers

(2008). Financial capability: A behavioural economics perspective. Consumer research, 69, 192–193.

14.

Despard

M. R.

Friedline

Martin-West

(2020). Why do households lack emergency savings? The role of financial capability. Journal of Family and Economic Issues, 41, 542–557. https://doi.org/10.1007/s10834-020-09679-8

15.

DeVellis

R. F.

(2017). Scale Development: Theory and Applications (4th ed). Sage publications.

16.

De Winter

J. C.

Dodou

Wieringa

P. A.

(2009). Exploratory factor analysis with small sample sizes. Multivariate Behavioral Research, 44(2), 147–181. https://doi.org/10.1080/00273170902794206

17.

Diemer

M. A.

McWhirter

E. H.

Ozer

E. J.

Rapa

L. J.

(2015). Advances in the conceptualization and measurement of critical consciousness. The Urban Review, 47(5), 809–823. https://doi.org/10.1007/s11256-015-0336-7

18.

Elliott

Mihalic

(2004). Issues in disseminating and replicating effective prevention programs. Prevention Science, 5, 47–53. https://doi.org/10.1023 = b:prev.0000013981.28071.52

19.

Elliott

Song

H.-a.

Nam

(2013). Small-dollar accounts, children’s college outcomes, and wilt. Children and Youth Services Review, 35(3), 535–547. https://doi.org/10.1016/j.childyouth.2012.12.001

20.

Federal Reserve (2020). Update on the economic well-being of U.S. households: July 2020 results. Board of Governors of the Federal Reserve System. Retrieved December 10, 2021, from https://www.federalreserve.gov/publications/files/2019-report-economic-well-being-us-households-update-202009.pdf

21.

Fernandes

Lynch

J. G.

Jr Netemeyer

R. G.

(2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861–1883. https://doi.org/10.1287/mnsc.2013.1849

22.

Fisher

O’donnell

S. C.

Oyserman

(2017). Social class and identity-based motivation. Current Opinion in Psychology, 18, 61–66. http://doi.org/10.1016/j.copsyc.2017.07.035

23.

Fraser

M. W.

Galinsky

M. J.

(2010). Steps in intervention research: Designing and developing social programs. Research on Social Work Practice, 20(5), 459–466. https://doi.org/10.1177/1049731509358424

24.

Fraser

M W

Richman

J M

Galinsky

M J

Day

S H

(2009). Intervention Research: Developing Social Programs. Oxford University Press.

25.

Freire

(2000). In Bergman Ramos

(Trans), Pedagogy of the oppressed (30th anniversary ed). Continuum.

26.

Funnell

Rogers

(2011). Purposeful program theory: Effective use of theories of social change and logic models. Jossey-Bass/Wiley.

27.

Giddens

(1991). Structuration theory: Past, present and future. In C. Bryant, & D. Jary (Eds.), Giddens’ theory of structuration. A critical appreciation (pp. 55–56). Routledge.

28.

Gorsuch

R. L.

(1990). Common factor analysis versus component analysis: Some well and little known facts. Multivariate behavioral research, 25(1), 33–39.

29.

Grable

J. E.

Joo

S. H.

(2001). A further examination of financial help-seeking behavior. Journal of Financial Counseling and Planning, 12(1), 55–74.

30.

Gutierrez

L. M.

(1995). Understanding the empowerment process: Does consciousness make a difference? Social Work Research, 19(4), 229–237. https://doi.org/10.1093/swr/19.4.229

31.

Hanna

S. D.

Lindamood

(2004). An improved measure of risk aversion. Financial Counseling and Planning, 15(2), 27–38.

32.

Hershey

D. A.

Mowen

J. C.

(2000). Psychological determinants of financial preparedness for retirement. The Gerontologist, 40(6), 687–697. https://doi.org/10.1093/geront/40.6.687

33.

Hibbert

Beutler

Martin

(2004). Financial prudence and next generation financial strain. Financial Counseling and Planning, 15(2), 51–60.

34.

Hicks

Tingley

(2011). Causal mediation analysis. The Stata Journal, 11(4), 605–619. https://doi.org/10.1177/1536867X1201100407

35.

Hinkin

T. R.

Tracey

J. B.

Enz

C. A.

(1997). Scale construction: Developing reliable and valid measurement instruments. Journal of Hospitality & Tourism Research, 21(1), 100–120. https://doi.org/10.1177/109634809702100108

36.

Holguin

(2015). Start2Save: Helping working families meet unexpected expenses and opportunities. In J. M. Collins (Ed.), A fragile balance (pp. 175–191). Palgrave Macmillan.

37.

Hong

P. Y. P.

(2015, June 4-7). Transforming Impossible into Possible (TIP): A group work model in workforce development [Poster presentation]. International Association of Social Work with Groups (IASWG) Symposium. Chapel Hill, NC. Retrieved from https://ecommons.luc.edu/socialwork_facpubs/36/

38.

Hong

P. Y. P.

Choi

Hong

(2020a). A randomized controlled trial study of Transforming Impossible into Possible (TIP) policy experiment in South Korea. Research on Social Work Practice, 30(6), 587–596. https://doi.org/10.1177/1049731519894647

39.

Hong

P. Y. P.

Holland

Park

J. H.

Kim

C. K.

(2022a). Broken links in the workforce development system: The social-human development need for assessing psychological self-sufficiency. Social Development Issues, 44(3). https://doi.org/10.3998/sdi.3708

40.

Hong

P. Y. P.

Wathen

M. V.

Shin

A. J.

Yoon

Park

J. H.

(2022b). Psychological self-sufficiency and financial literacy among low-income participants: An empowerment-based approach to financial capability. Journal of Family and Economic Issues, 43, 690–702. https://doi.org/10.1007/s10834-022-09865-w

41.

Hong

P. Y. P.

(2013). Toward a client-centered benchmark for self-sufficiency: Evaluating the ‘process’ of becoming job ready. Journal of Community Practice, 21(4), 356–378. https://doi.org/10.1080/10705422.2013.852147

42.

Hong

P. Y. P.

(2021). Health psychological self-sufficiency (Health-PSS): A bottom-up human-social development approach to health equity. Social Development Issues, 43(3), 57–84. https://doi.org/10.3998/sdi.2811

43.

Hong

P. Y. P.

Choi

Key

(2018). Psychological self-sufficiency: A B\bottom-up theory of change in workforce development. Social Work Research, 42(1), 22–32. https://doi.org/10.1093/swr/svx025

44.

Hong

P. Y. P.

Choi

Polanin

J. R.

(2014). A multi-sample confirmatory factor analysis of the Short Employment Hope Scale (EHS-14). Journal of Social Service Research, 40(3), 339–352. https://doi.org/10.1080/01488376.2014.901277

45.

Hong

P. Y. P.

Hodge

D. R.

Choi

(2015). Spirituality, hope, and self-sufficiency among low-income job seekers. Social Work, 60(2), 155–164. https://doi.org/10.1093/sw/swu059

46.

Hong

P. Y. P.

Hong

Choi

(2020b). Validation of the employment hope scale among summer youth employment program participants. Children and Youth Services Review, 111, 104811. https://doi.org/10.1016/j.childyouth.2020.104811

47.

Hong

P. Y. P.

Hong

Lewis

Williams

(2020c). Pathway of employment from uncovering barriers to discovering hope: Non-traditional, student-centered, relationship-based approach. Families in Society, 101(3), 395–408. https://doi.org/10.1177/1044389419864228

48.

Hong

P. Y. P.

Kim

Hong

Park

J. H.

Lewis

(2020d). Examining psychological self-sufficiency among African American low-income jobseekers in a health profession career pathway program. Social Work in Health Care, 59(3), 139–160. https://doi.org/https://dx.https://doi.org/10.1080/00981389.2019.1704467

49.

Hong

P. Y. P.

Kim

S. H.

Marley

Park

J. H.

(2021a). Transforming Impossible into Possible (TIP) for SUD recovery: A promising practice innovation to combat the opioid crisis. Social Work in Health Care, 60(6-7), 509–528. https://doi.org/10.1080/00981389.2021.1958127

50.

Hong

P. Y. P.

Lewis

Park

J. H.

Hong

Davies

(2021b). Transforming Impossible into Possible (TIP) for fatherhood: An empowerment-based social work intervention. Research on Social Work Practice, 31(8), 826–835. https://doi.org/10.1177/10497315211004743

51.

Hong

P. Y. P.

(2016b). Learning to TIP: Introduction. Center for Research on Self-Sufficiency (CROSS) Loyola University Chicago.

52.

Hong

P. Y. P.

Polanin

J. R.

Key

Choi

(2014). Development of the perceived employment barrier scale (PEBS): Measuring psychological self-sufficiency. Journal of Community Psychology, 42(6), 689–706. https://doi.org/10.1002/jcop.21646

53.

Hong

P. Y. P.

Polanin

J. R.

Pigott

T. D.

(2012). Validation of the employment hope scale: Measuring psychological self-sufficiency among low-income jobseekers. Research on Social Work Practice, 22(3), 323–332. https://doi.org/10.1177/1049731511435952

54.

Hong

P. Y. P.

Sheriff

V. A.

Naeger

S. R.

(2009). A bottom-up definition of self-sufficiency: Voices from low-income jobseekers. Qualitative Social Work, 8(3), 357–376. https://doi.org/10.1177/1473325009337844

55.

Hong

P. Y. P.

(2016a). Transforming Impossible into Possible (TIP): A bottom-up practice in workforce development for low-income jobseekers. Environment and Social Psychology, 2(1), 93–104. https://doi.org/10.18063/ESP.2016.02.008

56.

Hong

P. Y. P.

(2019). Neurobiological core content in the research-supported Transforming Impossible into Possible (TIP) program model. Journal of Evidence-Based Social Work, 16(5), 497–510. https://doi.org/10.1080/26408066.2019.1629140

57.

Hong

Northcut

T. B.

Spira

Hong

P. Y. P.

(2019). Facilitating transformation in workforce training: Using clinical theory to understand psychological self-sufficiency. Smith College Studies in Social Work, 89(1), 66–82. https://doi.org/10.1080/00377317.2019.1577046

58.

Howlett

Kees

Kemp

(2008). The role of self-regulation, future orientation, and financial knowledge in long-term financial decisions. Journal of Consumer Affairs, 42(2), 223–242. https://doi.org/10.1111/j.1745-6606.2008.00106.x

59.

Huang

Nam

Lee

E. J.

(2015). Financial capability and economic hardship among low-income older Asian immigrants in a supported employment program. Journal of Family and Economic Issues, 36(2), 239–250. https://doi.org/10.1007/s10834-014-9398-z

60.

Hudson

K. J. S.

Bush

(2000). Tools for survival: An analysis of financial literacy programs for low-income families. Woodstock Institute. http://citeseerx.ist.psu.edu/viewdoc/download?doi = 10.1.1.196.3922&rep = rep1&type = pdf

61.

Joo

S. H.

Pauwels

V. W.

(2002). Factors affecting workers’ retirement confidence: A gender perspective. Financial Counseling and Planning, 13(1), 1–10.

62.

Joseph

Dhanuraj

P. C.

Joseph

K. A.

(2017). Influence of financial inclusion and financial self-efficacy on the credit behaviour of BPL households. International Journal of Research in Economics and Social Sciences, 7(1), 52–66.

63.

Kaiser

H. F.

Rice

(1974). Little jiffy, mark IV. Educational and Psychological Measurement, 34(1), 111–117. https://doi.org/10.1177/001316447403400115

64.

Kempson

Atkinson

Pilley

(2004). Policy level response to financial exclusion in developed economies: lessons for developing countries: Report of Personal Finance Research Centre. University of Bristol. Retrieved December 10, 2021, from http://www.pfrc.bris.ac.uk/Reports/dfid_report.pdf

65.

Kempson

Collard

Moore

(2006). Measuring financial capability: An exploratory study for the financial services authority. In Collard

(Ed.), Consumer financial capability: Empowering European consumers (pp. 39–76). Brussels: European Credit Research Institute. Retrieved December 10, 2021, from https://www.ecri.eu/system/tdf/FinCap_Workshop_I_papers_0.pdf?file=1&type=node&id=75&force=0

66.

Kim

Garman

E. T.

(2003). Financial stress and absenteeism: An empirically derived model. Financial Counseling and Planning, 14(1), 31–42.

67.

Kivistö

Hautala

(2020). Structuration processes of client-oriented and system-oriented social work practice: The viewpoint of client documentation. Nordic Social Work Research, 1–14. https://doi.org/10.1080/2156857X.2020.1848907

68.

Kline

(1994). An easy guide to factor analysis. Routledge.

69.

Kramer

M. M.

(2016). Financial literacy, confidence and financial advice seeking. Journal of Economic Behavior & Organization, 131(A), 198–217. https://doi.org/10.1016/j.jebo.2016.08.016

70.

Lee

J. Y.

Gallagher

M. W.

(2018). . In Gallagher

M. W.

& Lopez

S. J.

(Eds.) Oxford library of psychology. The Oxford handbook of hope (pp. 287–298). Oxford University Press.

71.

Lown

J. M.

(2011). Development and validation of a financial self-efficacy scale. Journal of Financial Counseling and Planning, 22(2), 54.

72.

Mandell

Klein

L. S.

(2007). Motivation and financial literacy. Financial Services Review, 16, 105–116.

73.

McGirr

S. A.

Sullivan

C. M.

(2017). Critical consciousness raising as an element of empowering practice with survivors of domestic violence. Journal of Social Service Research, 43(2), 156–168. https://doi.org/10.1080/01488376.2016.1212777

74.

McKleroy

V. S.

Galbraith

J. S.

Cummings

Jones

Harshbarger

Collins

Gelaude

Carey

J. W.

Team

A. D. A. P. T.

(2006). Adapting evidence-based behavioral interventions for new settings and target populations. AIDS Education and Prevention, 18(4 Suppl.A), 59–73. https://doi.org/10.1521 = aeap.2006.18.supp.59

75.

Mehmetoglu

(2018). Medsem: A stata package for statistical mediation analysis. International Journal of Computational Economics and Econometrics, 8(1), 63–78. https://doi.org/10.1504/IJCEE.2018.088321

76.

Moreau

M. J.

(1990). Empowerment through advocacy and consciousness-raising: Implications of a structural approach to social work. Journal of Sociology and Social Welfare, 17(2), 53–67.

77.

Mullany

(2016). Universal CSAs in Illinois: Addressing the racial wealth gap. Profitwise, 3, 12–13. file:///C:/Users/MVW/AppData/Local/Temp/pnv-Issue3-2016-worth-article3-pdf.pdf.

78.

Nyhus

E. K.

Webbley

(2006). Discounting, self-control, and saving. In M. Altman (Ed.), Handbook of contemporary behavioral economics: Foundations and developments (pp. 297–325). M. E. Sharpe.

79.

Organization for Economic Cooperation and Development (2013). Pisa 2012 Assessment and Analytical Framework. OECD Publishing. https://doi.org/10.1787/9789264190511-en

80.

Osborne

J. W.

Costello

A. B.

Kellow

J. T.

(2008). Best practices in exploratory factor analysis. In J. W. Osborne (Ed.), Best practices in quantitative methods (pp. 86–99). Sage Publications.

81.

Oyserman

Horowitz

. (2022, March 20). Future Self to Current Action: Integrated Review and Identity-Based Motivation Synthesis. PsyArXiv Preprints. https://doi.org/10.31234/osf.io/24wvd

82.

Parish

S. L.

Grinstein-Weiss

Yeo

Y. H.

Rose

R. A.

Rimmerman

(2010). Assets and income: Disability-based disparities in the United States. Social Work Research, 34(2), 71–82. https://doi.org/10.1093/swr/34.2.71

83.

Prawitz

A. D.

Kalkowski

J. C.

Cohart

(2013). Responses to economic pressure by low-income families: Financial distress and hopefulness. Journal of Family and Economic Issues, 34, 29–40. https://doi.org/10.1007/s10834-012-9288-1

84.

Prosperity Now (2020). Prosperity Now scorecard: State outcome & policy report—Illinois. Retrieved December 10, 2021, from https://scorecard.prosperitynow.org/reports#report-state-profile

85.

Rappaport

(1987). Terms of empowerment/exemplars of prevention: Toward a theory for community psychology. American Journal of Community Psychology, 15(2), 121–148. https://doi.org/10.1007/BF00919275

86.

Resnicow

Soler

Braithwaite

R. L.

Ahluwalia

J. S.

Butler

(2000). Cultural sensitivity in substance use prevention. American Journal of Community Psychology, 28(3), 271–290. https://doi.org/10.1002/(SICI)1520-6629(200005)28:3<271::AID-JCOP4>3.0.CO;2-I

87.

Rey

Brousselle

Dedobbeleer

(2011). Logic analysis: Testing program theory to better evaluate complex interventions. The Canadian Journal of Program Evaluation, 26(3), 61–89. https://doi.org/10.3138/cjpe.0026.006

88.

Riitsalu

van Raaij

(2020). Self-control, future time perspective and saving—The key to perceived financial well-being. Think Forward Initiative.

89.

Rothwell

D. W.

Giordono

L. S.

Robson

(2020). Public income transfers and wealth accumulation at the bottom: Within and between country differences in Canada and the United States. Social Policy & Administration, 54(6), 914–932. https://doi.org/10.1111/spol.12629

90.

Rothwell

D. W.

Khan

M. N.

Cherney

(2016). Building financial knowledge is not enough: Financial self-efficacy as a mediator in the financial capability of low-income families. Journal of Community Practice, 24(4), 368–388. https://doi.org/10.1080/10705422.2016.1233162

91.

Rubin

Collins

(2014, May 6). Early tap of 401(k) replaces homes as American piggy bank. Bloomberg. Retrieved December 10, 2021, from https://www.bloomberg.com/news/articles/2014-05-06/early-tap-of-401-k-replaces-homes-as-american-piggy-bank

92.

Santos

J. R. A.

(1999). Cronbach’s alpha: A tool for assessing the reliability of scales. Journal of Extension, 37, 1–5.

93.

Serido

Shim

Tang

(2013). A developmental model of financial capability: A framework for promoting a successful transition to adulthood. International Journal of Behavioral Development, 37(4), 287–297. https://doi.org/10.1177/0165025413479476

94.

Sharpe

D. L.

Anderson

White

Galvan

Siesta

(2007). Specific elements of communication that affect trust and commitment in the financial planning process. Financial Counseling and Planning, 18, 3–17.

95.

Shephard

D. D.

Contreras

J. M.

Meuris

te Kaat

Bailey

Custers

Spencer

(2017). Beyond financial literacy: The psychological dimensions of financial capability. Think Forward Initiative.

96.

Sherraden

(1991). Assets and the poor. M.E. Sharpe.

97.

Sherraden

(ed.) (2005). Inclusion in the American dream: Assets, poverty, and public policy. Oxford University Press.

98.

Sherraden

Barr

M. S.

(2005). Institutions and inclusion in saving policy. In N. R. Retsinas and E. S. Belsky (Eds.), Building assets, building credit: Creating wealth in low-income communities (pp. 286–315). The Brookings Institution. https://doi.org/10.7864/j.ctt128175.21

99.

Sherraden

M. S.

(2013). Building blocks of financial capability. In J. Birkenmaier, M. S. Sherraden, & J. Curley (Eds.), Financial capability and asset development: Research, education, policy, and practice (pp. 3–43). Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199755950.003.0012.

100.

Sherraden

M. S.

Birkenmaier

Collins

J. M.

(2018). Financial capability and asset building in vulnerable households: Theory and practice. Oxford University Press. https://doi.org/10.1111/fcsr.12277

101.

Sherraden

M. S.

Huang

Frey

J. J.

Birkenmaier

Callahan

Clancy

M. M.

Sherraden

(2015). Financial capability and asset building for all (Grand Challenges for Social Work Initiative Working Paper No. 13). American Academy of Social Work and Social Welfare. https://csd.wustl.edu/gcwp13/

102.

Shockey

S. S.

Seiling

S. B.

(2004). Moving into action: Application of the transtheoretical model of behavior change to financial education. Journal of Financial Counseling and Planning, 15(1), 41.

103.

Silva

L. D.

Wijewardena

Wood

Kaul

(2011). Evaluation of the Family Self-Sufficiency Program: Prospective Study. US Department of Housing and Urban Development, Office of Policy Development and Research. Retrieved Dec 10, 2021, from https://www.huduser.gov/portal/publications/affhsg/eval_fssp.html

104.

Simon

(1957). Models of man, social and rational: Mathematical essays on rational human behavior in a social setting. Wiley.

105.

Sims

Weisman

(2020). Prosperity Now Scorecard—What’s most important: Stories from the prosperity now community. Prosperity Now. Retrieved from https://prosperitynow.org/sites/default/files/PDFs/Scorecard%202020/2020_Prosperity_Now%20Scorecard_Whats_Most_Important.pdf

106.

Snyder

C. R.

(2000). Handbook of hope: Theory, measures, and applications. Academic Press.

107.

Tavakol

Dennick

(2011). Making sense of Cronbach’s alpha. International Journal of Medical Education, 2, 53–55. https://doi.org/10.5116/ijme.4dfb.8dfd

108.

Taylor

M. P.

Jenkins

S. P.

Sacker

(2011). Financial capability and psychological health. Journal of Economic Psychology, 32(5), 710–723. https://doi.org/10.1016/j.joep.2011.05.006

109.

Varcoe

K. P.

Martin

Devitto

(2005). Using a financial education curriculum for teens. Financial Counseling and Planning, 16(1), 63–71.

110.

Wheeler

(2018). Bounded rationality. In E. Zalta (Ed.), Stanford encyclopedia of philosophy. Stanford University. https://plato.stanford.edu/entries/bounded-rationality; https://plato.stanford.edu/archives/win2018/entries/bounded-rationality/

111.

Wheeler-Brooks

(2009). Structuration theory and critical consciousness: Potential applications for social work practice. Journal of Sociology and Social Welfare, 36(1), 123. https://scholarworks.wmich.edu/jssw/vol36/iss1/7

112.

Worthington

R. L.

Whittaker

T. A.

(2006). Scale development research: A content analysis and recommendations for best practices. The Counseling Psychologist, 34(6), 806–838. https://doi.org/10.1177/0011000006288127

113.

Zimmerman

M. A.

(2000). Empowerment theory. In J. Rappaport, & E. Seidman (Eds.), Handbook of community psychology (pp. 43–63). Springer.