The Family Frugality Scale (FFS) was developed to retrospectively measure an individual’s perception of the degree to which their family was frugal in the management of resources while the individual was growing up. Research in financial socialization has increasingly noted the significance of family and parental socialization modeling behaviors. This scale is unique in that it focuses on a specific family socialization behavior that young adults can reflect on from their adolescence—family frugality—one that may or may not have been implicitly modeled in their family during their younger years. The scale items were constructed using a combination of existing scales, qualitative focus group analysis, survey data from a national sample of 1,245 young adults between the ages of 18 and 34 years, and structural equation modeling. Multiple test results show that the FFS was reliable and valid and can be used to evaluate its relationships with other individual and familial financial behaviors.