What is your dominant money script?
Here are the four main money scripts:
1. Money avoidance
Money avoiders tend to believe that “money is the root of all evil”. They often associate wealth with corruption and greed, and they may feel guilty about wanting or acquiring money for themselves, especially when others have less. They tend to have a higher tendency towards the money avoidance script, tend to view money in a negative light and may believe that it is inherently bad.
Money avoiders see it as a virtue to live with less, but this mindset can also impede financial success as money avoiders can unknowingly sabotage their efforts to accumulate wealth. They may frequently give away money and avoid thinking about finances, which can lead to overspending and difficulty managing a budget. People in “helping” jobs like psychologists and social workers are more likely to fall into this category.
2. Money Worship
People who exhibit money-worshipping behavior believe that money is the key to happiness and they see it as the solution to all problems. However, they also believe that one can never have enough money, and ultimately find that their pursuit is never satisfied. Interestingly, money worshipers are more likely to have credit card debt and lower net worth.
Money worshipers tend to buy material possessions to feel happy, and they may prioritize work over spending time with friends and family. And those with the Money Worship script often give or lend money to others even if they can’t afford it. While this is not always the case, people who choose a Money Worship script are often high achievers in careers that reward hard work and upward mobility – for example, they aspire to become a partner in a law firm or accounting firm.
3. Money Status
Do you feel like your self worth is tied to your wealth? This is a common belief among people using the Money Status money script. The Money Status and Money Worship scripts share some similarities, but the former emphasizes the outward display of wealth, while the latter prioritizes accumulating money for happiness. This often leads to overspending, gambling, financial dependency, and a lack of trust in relationships. In fact, couples who keep their financial situation a secret are making a significant financial mistake.
Research by the Klontzes shows that many people with money status scripts grew up in low-income households and believe that achieving a higher socioeconomic status will increase their self-esteem and happiness. Individuals who demonstrate money status beliefs do not necessarily share similar career choices; Rather, they tend to become financially dependent on others and overspend.
4. Money alert
The Money Vigilant money script is for people who are generally conscientious and vigilant about their financial life. They constantly make sure they have enough money, for example by checking financial documents, and they believe in the importance of regular savings. They tend to achieve healthy financial results as they make responsible financial decisions and prioritize life within their means.
Leave a Reply