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RPRL

Scale name: Parental Influences on Retirement Savings 

Description: This 3-item scale is designed to be administered to either adolescents or adults, in order to assess the effect one’s parents have on money management and saving. 

Source: Koposko, J. L., & Hershey, D. A. (2014). Parental and early influences on expectations of financial planning for retirement. Journal of Personal Finance, 13, 17-27.

Cronbach's alpha: 0.86

Response format: Likert-type response format (1 = strongly disagree; 5 = strongly agree)

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

Items:

            1. Growing up, my parents helped me to imagine situations when I might need                                    extra money to fall back on.  

            2. My parents made sure that I understood the value of money and that money is a limited                 resource. 

            3. Saving money for the future was an important lesson I learned as a child. 

            4. My parents suggested to me concrete ways to save money on my own.