Why you feel a certain way about Money? What’s your Money Script?

Many people couldn’t tell you why they feel a certain way about money. They might feel guilty, proud, accomplished, uncertain, anxious, and more. Money doesn’t have any feelings or know who you are. Whether you spend it or put it in the bank doesn’t matter. Why do we sometimes carry such strong feelings about it? It’s a means to an end. It allows us to pay bills.

Our feelings and beliefs about money don’t just appear out of nowhere. These are ingrained into us starting in childhood. We are unaware that our experiences with money during childhood, the most impressionable phase of our lives, mold us into how we feel and think about money.

As we grow up and move away, our new experiences and opportunities can change this mold. However, specifically during the early years of life, we are not exposed to these exterior forces in the world, which is why this is where a majority of our money scripts originate from. These money scripts create our behavior, which ultimately leads to our habits.

The overwhelming power that these money scripts can have on us is only cemented deeper into our beliefs when they originate from a traumatic experience. This trauma might cause an extreme, such as someone obsessed with making it or someone not caring and willing to spend frivolously. Spouses are often on the opposite ends of the spectrum here. 

Many of these money scripts are passed down generationally down the family line. This makes sense given the fact that these scripts are imprinted on us during our childhood and were mostly around our parents, allowing this generation’s behavior to be passed down. Each generation can slightly modify their behavior based on their different experiences.

Part of any growth in improving your financial health is knowing your money scripts and your financial comfort zone. The socioeconomic level that you see yourself in is your financial comfort zone. It depends entirely on your income level. Knowing how to step out of your financial zone can lead to a healthier and improved lifestyle.

The Top 10 Money Scripts

1. More money will make things better

2. Money is bad

3. I don’t deserve money

4. I deserve to spend money

5. There will never be enough money

6. There will always be enough money

7. Money is unimportant

8. Money will give me meaning

9. It’s not nice (or necessary) to talk about money

10. If you are good, the universe will supply all your needs

There are four money script categories based on financial behavior and demographics.

1. Money Avoidance - typically, a lower-income person who is less educated may believe money is wrong and the rich are greedy.

2. Money Whorship - typically a lower income person who is less educated and who may believe the money will make you happier or solve all your problems

3. Money Status - is often found in a lower-income person who is less educated; however, it is also found in the top tiers of wealthy people. They believe people are only successful as the amount of money they earn and their self-worth equals their net worth.

4. Money Vigilance is more of a protective money script that believes money should be saved and not spent and that an emergency fund should be fully funded.