Article: Validating a comprehensive financial literacy questionnaire for Kuwaiti youth: a factor analysis study Journal: World Review of Entrepreneurship, Management and Sustainable Development (WREMSD) 2025 Vol.21 No.5 pp.1 - 19 Abstract: This study aims to validate a questionnaire designed to measure financial literacy among youth in Kuwait. The instrument was developed using items sourced from various existing tools and tailored to the Kuwaiti context, with a focus on youth aged 18-25 years. The questionnaire was initially divided into seven domains, covering different aspects of financial literacy, including budgeting, savings, investments, debt management, financial planning, risk awareness and digital financial tools. A sample of 1064 participants completed the questionnaire. Exploratory factor analysis (PCA) and Confirmatory Factor Analysis (CFA) were employed to evaluate the structure, reliability and validity of the instrument. The results of the CFA confirmed that financial literacy can be grouped into four distinct domains: Consuming Behaviour (CB), Information Literacy (IL), Financial Practices (FP) and Investment Behaviour (IB). These four domains emerged as the most reliable and validated constructs for measuring financial literacy among youth in Kuwait. The study successfully developed and validated a comprehensive tool for assessing financial literacy among Kuwaiti youth. The confirmed domains provide a robust framework for future research and policy development aimed at enhancing financial literacy education and interventions in Kuwait. Inderscience Publishers - linking academia, business and industry through research

Title: Validating a comprehensive financial literacy questionnaire for Kuwaiti youth: a factor analysis study

Authors: Taiba Alhumaidhi; Faisal AlReshaid; Kenda Alzayed

Addresses: Department of Psychological and Behavioural Science, London School of Economics and Political Science, Aldwych, London, England, UK ' College of Business and Economics, American University of Kuwait (AUK), Salmiya, Kuwait ' National Bank of Kuwait, Kuwait

Abstract: This study aims to validate a questionnaire designed to measure financial literacy among youth in Kuwait. The instrument was developed using items sourced from various existing tools and tailored to the Kuwaiti context, with a focus on youth aged 18-25 years. The questionnaire was initially divided into seven domains, covering different aspects of financial literacy, including budgeting, savings, investments, debt management, financial planning, risk awareness and digital financial tools. A sample of 1064 participants completed the questionnaire. Exploratory factor analysis (PCA) and Confirmatory Factor Analysis (CFA) were employed to evaluate the structure, reliability and validity of the instrument. The results of the CFA confirmed that financial literacy can be grouped into four distinct domains: Consuming Behaviour (CB), Information Literacy (IL), Financial Practices (FP) and Investment Behaviour (IB). These four domains emerged as the most reliable and validated constructs for measuring financial literacy among youth in Kuwait. The study successfully developed and validated a comprehensive tool for assessing financial literacy among Kuwaiti youth. The confirmed domains provide a robust framework for future research and policy development aimed at enhancing financial literacy education and interventions in Kuwait.

Keywords: financial literacy; Kuwaiti youth; questionnaire validation; factor analysis; financial behaviour.

DOI: 10.1504/WREMSD.2025.150391

World Review of Entrepreneurship, Management and Sustainable Development, 2025 Vol.21 No.5, pp.1 - 19

Received: 10 Jun 2025
Accepted: 19 Jul 2025
Published online: 12 Dec 2025 *

Title: Validating a comprehensive financial literacy questionnaire for Kuwaiti youth: a factor analysis study

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