Financial Capability Scale for Young Adults: FCS-Y

The Center for Financial Security (CFS) developed the Financial Capability Scale (FCS) as a standardized 6-question tool for tracking clients’ progress in financial coaching, counseling, and education programs. The FCS questions focus on clients’ self-reported behavior. Some programs use the FCS with young adults ages 18 to 22 enrolled in higher education or just entering the workforce. The FCS includes multiple items that are not as relevant for this age group, however. In response, CFS modified the FCS for young adults as the “FCS-Y.”

  • Copies of the FCS-Y are available as PDF and Word files
  • A scoring guide to the FCS-Y is also available

This document presents technical information about the survey data analysis used to create and validate the FCS-Y.

Overall, the FCS-Y appears to be a valid scale that is appropriate for 18-22 year olds or other populations with emerging financial independence who work only part-time or have no income from work due to schooling.

Access the document here.