The purpose of this article was to detail the process used to establish validity and reliability for a recently developed instrument measuring financial distress/ financial well-being. Knowing that the establishment of validity and reliability of an instrument is an ongoing process, and keeping in mind that construct validity can be established only after years of use with different samples and in different settings (Litwin, 1995), the developers of the InCharge Financial Distress/Financial Well-Being (IFDFW) Scale have made strides in establishing that the measurement tool is valid and reliable. That is, the tool has been shown to measure the construct accurately and consistently through assessment methods set up to test for validity and reliability.