The present study is investigating the validity and reliability of a new socioeconomic scale called the Wiseheart Socioeconomic Scale (WSESS). This new scale measures socioeconomic status (SES), as well as sociodemographic factors, including wealth, social supports and life stressors through the addition of eight novel WSESS subscales. Participants were recruited to investigate whether (1) the novel WSESS subscales were internally consistent; and (2) whether the WSESS novel subscales had acceptable levels of construct validity by comparing them to existent questionnaires. The results of the present study provide strong support for the internal consistency for the WSESS subscales. The WSESS subscales demonstrated either weak or weak-to-moderate correlations to either both or one of their associated criterion measures. Further tests are needed to evaluate different types of reliability and validity, and towards the production of a shorter version. This scale has implications for research, policy design, and in the therapeutic setting.