Multidimensional Index of Life Quality
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About Multidimensional Index of Life Quality
The Financial Status subscale of the MILQ was used to assess for financial quality of life. This subscale comprises four questions, with lower scores reflecting the poorer quality of life in the financial domain (Avis et al., 1996).
Psychometric properties of the MILQ indicate test-retest reliability of .74 and Cronbach’s alpha of .93 (Avis et al., 1996). It is important to note that because of the lack of an established financial stress measure, no criterion could be identified that could be used to validate the financial status subscale.