Nature of Money Scripts
The book defines these as unconscious beliefs about money that drive financial behaviours.
What are money scripts?
The majority of money scripts form during this period of a person’s life.
Childhood
This script sees money as bad or corrupting, and those who have it as greedy.
What is Money Avoidance?
People with a money avoidance script may unconsciously sabotage this.
Financial success
The first step in changing a money script is developing this.
Awareness
According to Chapter 6, money scripts are often described as this kind of “truth.”
What are partial truths?
These individuals, parents, caregivers, and role models, play the largest role in shaping money beliefs.
Family members
This script reflects the belief that money brings happiness and solves problems.
What is Money Worship?
Money worshipers are more likely to experience these negative outcomes.
Debt and compulsive spending
Financial professionals can help clients by linking money behaviours to this underlying factor.
Emotions or past experiences
The authors argue that money scripts tend to operate from this part of our mind, rather than rational thought.
What is the subconscious?
Observing financial conflict in the household as a child often leads to scripts that associate money with this.
Stress or danger
This script ties personal worth to financial success.
What is Money Status?
The belief that money defines a person’s value can lead to financial risk-taking to maintain this.
Status and Image
The authors recommend this therapeutic process to uncover the origins of money beliefs
Exploration of money history or narrative therapy
True or False: Most people are fully aware of their money scripts.
False
Hearing phrases like “money doesn’t grow on trees” may create this type of script.
What is money avoidance?
This script values saving and being cautious about money, sometimes to an extreme.
What is Money Vigilance?
Money vigilance can promote saving, but may also create this kind of fear.
What is the fear of financial insecurity or spending?
Rewriting money scripts involves creating beliefs that are this, more balanced and context-specific
Rational or flexible beliefs
Money scripts become problematic when they are like this, applied rigidly in all situations.
Overgeneralized
The authors note that money scripts can also be shaped by these broader influences beyond family.
What are culture and society?
The authors emphasize that individuals often display this, having multiple overlapping scripts.
A combination of money scripts
According to the authors, unexamined money scripts often lead to repeated patterns of this
What are financial self-defeating behaviours?
According to Chapter 6, changing money scripts is a gradual process that requires this
Ongoing reflection and practice