Understanding Money Scripts and Their Impact on Financial Behaviors

Money scripts are the beliefs that shape our attitudes and behaviors towards money. According to psychologist Brad Klontz, there are four money scripts: money avoidance, money worship, money status, and money vigilance. Understanding your money script is important because it can help you identify the root of your financial behaviors and make positive changes.
Money avoiders may have negative attitudes towards wealth and may not allow themselves to succeed financially. Money worshippers may see wealth as the key to happiness and overspend in pursuit of it. Money status seekers may equate their self-worth with their net worth, leading to overspending and high debt. Money vigilants are hyper-aware of their financial situation and may struggle to spend money even when it is necessary.
Recognizing your money script is the first step towards changing negative financial behaviors. If you identify as a money avoider, for example, you may need to work on shifting your mindset towards wealth and success. If you are a money worshipper, you may need to learn to find happiness in non-material things. Whatever your money script, understanding it can help you make better financial decisions and live a more fulfilling life.