Table 2 Measurement scale Variables name...

Table 2

Measurement scale

Variables name	Items	Loading	VIF
Economic hardship	I face trouble in paying rent/Mortgage, bills like electricity, etc.	0.814	2.164	Williams et al. (2015),Finra Investor Education Foundation (2018), Blom et al. (2019), Ranta et al. (2020)
	I have to frequently cutbacks my personal expenditures	0.724	1.608
	I have family and friends' financial support	0.776	1.887
	How much money do you have leftover the day before your next pay-check or other income payment	0.718	1.62
	Have you been late with debt payment, housing loan or any other	0.746	1.907
	Do you have medical expenses bills burden on you	0.711	1.613
Financial attitude	I tend to live for today and let tomorrow take care of itself	0.774	1.785	OECD (2011), Atkinson and Messy (2012) Potrich et al. (2015) OECD (2011), Atkinson and Messy (2012)
	After making a decision about money, I tend to worry too much about my decision	0.709	1.585
	I find it more satisfying to spend money than save it for the long term	0.799	1.797
	Money is there to be spent	0.775	1.682
Financial behaviour	I follow a weekly or monthly plan for expenses	0.695	1.791	Joo and Grable (2004), OECD (2011), Atkinson and Messy (2012), Potrich et al. (2016)
	I set long term financial goals and strive to achieve them	0.809	1.998
	Before I buy something, I carefully consider whether I can afford it	0.694	1.774
	I pay my bills on time	0.854	2.839
	I have plans to achieve my financial goals	0.850	2.632
Financial capability	I have enough funds to survive for three months without regular earnings	0.806	2.164	Robb and Woodyard (2011), FINRA (2012), Finra Investor Education Foundation (2018)
	I often use electronic payment mode for paying bills through (credit card, debit card, online banking, mobile banking, etc.)	0.692	1.983
	I have more than one/several sources of income	0.742	2.306
	I am good at dealing with day-to-day financial matters, such as checking accounts, credit and debit cards, and tracking expenses	0.765	2.72
	I plan for retirement or have a retirement account	0.748	2.361
	Have you ever calculated how much you need at retirement	0.707	1.876
	Do you have insurance (such as health, life or accidental)	0.773	2.214
Financial knowledge	An investment with a high return is likely to be high risky	0.714	2.053	Lusardi and Mitchell (2007), OECD (2011), Robb and Woodyard (2011), NFCS (2012), Woodyard and Robb (2012)
	High inflation means that the cost of living is increasing rapidly and money in saving account losses value	0.828	2.169
	I understand the cost of buying on credit	0.794	2.692
	It is less likely that you will lose all of your money if you save them in more than one place	0.795	2.158
	I am pretty good at math	0.733	1.822
Risk tolerance	I am more comfortable putting my money in a bank account than in any risky option	0.861	2.407	Joo and Grable (2004)
	When I think of the word ‘‘risk’’, the term ‘‘loss’’ comes to mind immediately	0.744	1.935
	Making money in stocks and bonds is based on luck	0.803	2.291
	I lack the knowledge to be a successful investor	0.751	2.008
	Investing is too difficult to understand	0.835	2.241

Variables name	Items	Loading	VIF
Economic hardship	I face trouble in paying rent/Mortgage, bills like electricity, etc.	0.814	2.164	Williams et al. (2015),Finra Investor Education Foundation (2018), Blom et al. (2019), Ranta et al. (2020)
	I have to frequently cutbacks my personal expenditures	0.724	1.608
	I have family and friends' financial support	0.776	1.887
	How much money do you have leftover the day before your next pay-check or other income payment	0.718	1.62
	Have you been late with debt payment, housing loan or any other	0.746	1.907
	Do you have medical expenses bills burden on you	0.711	1.613
Financial attitude	I tend to live for today and let tomorrow take care of itself	0.774	1.785	OECD (2011), Atkinson and Messy (2012)Potrich et al. (2015)OECD (2011), Atkinson and Messy (2012)
	After making a decision about money, I tend to worry too much about my decision	0.709	1.585
	I find it more satisfying to spend money than save it for the long term	0.799	1.797
	Money is there to be spent	0.775	1.682
Financial behaviour	I follow a weekly or monthly plan for expenses	0.695	1.791	Joo and Grable (2004), OECD (2011), Atkinson and Messy (2012), Potrich et al. (2016)
	I set long term financial goals and strive to achieve them	0.809	1.998
	Before I buy something, I carefully consider whether I can afford it	0.694	1.774
	I pay my bills on time	0.854	2.839
	I have plans to achieve my financial goals	0.850	2.632
Financial capability	I have enough funds to survive for three months without regular earnings	0.806	2.164	Robb and Woodyard (2011), FINRA (2012), Finra Investor Education Foundation (2018)
	I often use electronic payment mode for paying bills through (credit card, debit card, online banking, mobile banking, etc.)	0.692	1.983
	I have more than one/several sources of income	0.742	2.306
	I am good at dealing with day-to-day financial matters, such as checking accounts, credit and debit cards, and tracking expenses	0.765	2.72
	I plan for retirement or have a retirement account	0.748	2.361
	Have you ever calculated how much you need at retirement	0.707	1.876
	Do you have insurance (such as health, life or accidental)	0.773	2.214
Financial knowledge	An investment with a high return is likely to be high risky	0.714	2.053	Lusardi and Mitchell (2007), OECD (2011), Robb and Woodyard (2011), NFCS (2012), Woodyard and Robb (2012)
	High inflation means that the cost of living is increasing rapidly and money in saving account losses value	0.828	2.169
	I understand the cost of buying on credit	0.794	2.692
	It is less likely that you will lose all of your money if you save them in more than one place	0.795	2.158
	I am pretty good at math	0.733	1.822
Risk tolerance	I am more comfortable putting my money in a bank account than in any risky option	0.861	2.407	Joo and Grable (2004)
	When I think of the word ‘‘risk’’, the term ‘‘loss’’ comes to mind immediately	0.744	1.935
	Making money in stocks and bonds is based on luck	0.803	2.291
	I lack the knowledge to be a successful investor	0.751	2.008
	Investing is too difficult to understand	0.835	2.241

Source(s): Authors’ own work – calculated values through SmartPLS 4

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