Written By: Kathy Prochaska-Cue

This article explores: (a) the initial exploratory development of a model of personal financial management style drawing from the work of McKenney and Keen (1974); Deacon and Firebaugh (1988); Gross, Crandall, and Knoll (1980); and Rettig (1987), and (b) the initial development of an instrument to be used in measuring the proposed model of personal financial management style. Responses of 128 adults were used to test the scales for the hypothesized instrument for validity and reliability using factor analysis. Results included the identification of 14 possible items for the Analyzing Scale, and eight possible items for the Holistic Scale. Future research is needed for further development of both the hypothesized model of personal financial management style and of the scales for the hypothesized instrument to measure personal financial management style. Key Words: cognitive style, personal financial management style

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