FK3BR Scale: Development of an Ultra-Short Measure

Financial knowledge has been recognized as an essential element for making informed financial decisions, promoting greater autonomy, security, and financial well-being. To ensure a valid and reliable measurement of this knowledge, we selected nine questions from instruments developed and validated in the Brazilian context and applied Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA) to validate an ultra-short scale, resulting in a three-item instrument, which we named KF3BR. To assess convergent validity, we used three basic conditions outlined in the literature: Composite Reliability (CR), Average Variance Extracted (AVE), and the relationship between them. The results indicate that the proposed structure for KF3BR provides satisfactory evidence of quality, reliability, and convergent validity.