Validation of the Russian version of A new money behavior quiz by A. Furnham, S. Grover (MBQ)

Abstract

In this study we examined psychometric properties of the Russian version of “A new money behavior quiz” (MBQ). The MBQ was designed to measure four attitudes towards money: "Financial obsession", "The importance of money for respect in society", "Using money as an instrument of influence" and "Financial anxiety". The study sample consisted of 2994 Russian participants (1483 (49.5%) females); Mean age = 40.5; SD = 10.5. Data was collected online in December 2020. To establish the factor structure of the questionnaire, a confirmatory factorial analysis was carried out for 6- and 4-factor solutions. The four-factor model demonstrated superior parameters. Measured by means of MacDonald's omega the MBQ was shown to have high degree of internal consistency. Validity was tested on a sample of 500 people. High level of correlation with the Money Script Inventory introduced by T. and B. Klontz confirmed the construct validity. Thus, the Russian version of “A new money behavior quiz” can be considered a reliable and valid tool for assessing attitudes towards money.