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Scale name: Financial Inhibition Scale (FIS)

Description: Consistent with the BIS scale that it is based on, the Financial Inhibition Scale includes statements that reflect a concern for negative future occurrences or apprehension associated with the financial planning and savings process. Two subscale scores can be derived from this measure (Financial Worry; Planning Worry), as well as a full-scale score. 

Source: Neukam, K. A., & Hershey, D. A. (2003).  Financial inhibition, financial activation, and saving for retirement.  Financial Services Review, 12, 19-37.

Cronbach's alpha: 0.90

Response format: Likert-type response format (1 = strongly disagree; 7 = strongly agree)

Instructions: Using the seven-point scale below, please indicate the extent to which you agree or disagree with each of the following statements. 

Items:

Financial Worry Subscale (6 items)

            1. I worry about my finances in retirement.

            2. I am concerned about being dependent on friends or family members for                                    financial support after I retire.

            3. I often find myself concerned about not having enough money in retirement.

            4. I worry about making mistakes in my financial preparations for retirement.

            5. I am concerned about being financially stable in retirement.

            6. I often feel that something bad will happen in retirement for which I have not                                    adequately saved. 

Planning Worry Subscale (3 items)

1. Compared to my friends, I have a lot of fears involving financial planning in                          retirement. 

2. I feel nervous and hesitant when doing financial planning for retirement. 

3. I am hesitant about making retirement investment decisions because I am worried            about making a mistake. 

Full Scale (9 items)

1. I worry about my finances in retirement. 

2. I am concerned about being dependent on friends or family members for financial            support after I retire. 

3. I often find myself concerned about not having enough money in retirement. 

4. I worry about making mistakes in my financial preparations for retirement. 

5. I am concerned about being financially stable in retirement. 

6. I often feel that something bad will happen in retirement for which I have not                    adequately saved. 

7. Compared to my friends, I have a lot of fears involving financial planning in retirement.

8. I feel nervous and hesitant when doing financial planning for retirement. 

9. I am hesitant about making retirement investment decisions because I am worried            about making a mistake.