Money Scripts: Understanding Unconscious Financial Beliefs and Their Influence on Behaviour

by | Feb 25, 2025 | Financial Wellbeing, Mental Health

Introduction

Financial decision-making is often perceived as a rational process based on logical analysis and strategic planning. However, psychological research suggests that our financial behaviours are deeply influenced by unconscious cognitive patterns known as money scripts. These internalised beliefs about money, shaped in early childhood and reinforced through social and cultural experiences, significantly impact financial attitudes, choices, and long-term financial well-being.

Understanding and critically assessing one’s money scripts is a fundamental step toward developing healthier financial behaviours, greater self-awareness, and improved financial decision-making.

What Are Money Scripts? 

The term money scripts was introduced by financial psychologists Dr Brad Klontz, Dr Ted Klontz, and Dr Charles Chaffin to describe the deeply ingrained, often unconscious financial beliefs that shape an individual’s approach to money.

Money scripts are typically:

– Developed in early childhood through parental modelling, societal norms, and lived experiences.

– Partial truths—meaning they may hold validity in specific situations but become problematic when rigidly applied to all financial decisions.

– Difficult to recognise, as they often operate at a subconscious level, influencing financial stress, spending habits, and risk tolerance.

Common Money Scripts and Their Psychological Impact

The research of Klontz et al. has identified ten core money scripts that frequently influence financial behaviours. Below is an overview of these money scripts, their underlying psychological mechanisms, and their potential consequences. 

Money Script Core Belief Potential Psychological & Financial Impact
1. More Money Will Make Things Better Belief that financial security directly correlates with happiness and problem resolution. May lead to chronic workaholism, financial overcommitment, or emotional dissatisfaction despite wealth accumulation.
2. Money is Bad Wealth is associated with greed, corruption, or moral compromise. Can result in self-sabotage, under-earning, and an aversion to financial success.
3. I Don’t Deserve Money Internalised guilt about wealth or success. Often leads to impulse generosity, financial insecurity, or avoidance of wealth accumulation opportunities.
4. I Deserve to Spend Money Spending is justified as a reward for effort. Can contribute to compulsive spending, consumer debt, and financial instability.
5. There Will Never Be Enough Money A deep-seated fear of financial insufficiency. Encourages excessive saving, financial anxiety, and reluctance to enjoy wealth.
6. There Will Always Be Enough Money Assumption that financial resources will always be available. Can lead to poor financial planning, over-reliance on credit, and financial vulnerability.
7. Money is Unimportant Devaluation of financial management in favour of other priorities. May result in financial neglect, poor budgeting, and economic dependence.
8. Money Will Give Me Meaning Wealth is equated with personal worth or social status. Can cause workaholism, materialism, and an unstable sense of self-worth.
9. It’s Not Nice (or Necessary) to Talk About Money Financial discussions are inappropriate or unnecessary. Reinforces financial illiteracy, generational money struggles, and lack of financial transparency.
10. If You Are Good, the Universe Will Supply All Your Needs Financial security is tied to moral virtue or spiritual faith. Can lead to financial passivity, lack of savings, and over-reliance on external factors.

 Each of these scripts exerts a profound influence on financial decision-making and can become limiting if applied uncritically across all financial contexts (Klontz et al., 2011). Recognising these beliefs is the first step toward developing a more adaptive and intentional approach to financial well-being. 

Rewiring Money Scripts for Financial Well-Being 

Research in financial psychology highlights that money scripts are not fixed traits—they can be modified through self-reflection, cognitive reframing, and intentional financial practices (Klontz & Klontz, 2009). 

How to Identify and Transform Your Money Scripts 

1. Self-Assessment:

  • Reflect on your earliest memories of money—how was money discussed in your household?
  • Do any of the ten money scripts resonate strongly with your own financial behaviours?

2. Examine Their Impact:

  • Ask yourself: How have these beliefs shaped my financial decisions—positively or negatively?
  • Are these scripts aligned with my current financial goals and values?

3. Challenge and Reframe Limiting Scripts:

  • Replace absolute statements (e.g., “I’m not good with money”) with growth-oriented perspectives (e.g., “I am learning to manage my finances effectively”).
  • Use mindfulness and cognitive restructuring to detach from automatic money-related stress responses.

4. Develop New Financial Habits:

  • Increase financial literacy by seeking evidence-based financial education.
  • Engage in structured financial planning (e.g., budgeting, investing, and strategic decision-making).
  • Practice conscious financial decision-making that aligns with your long-term aspirations. 

Take the Klontz Money Script Inventory (KMSI) 

Understanding your money scripts is the first step towards reshaping your financial mindset and improving financial well-being. The Klontz Money Script Inventory (KMSI), developed by Dr Brad Klontz and colleagues, is a validated psychometric tool designed to assess unconscious beliefs about money and how they influence financial behaviours. 

By taking this test, you will:

– Identify which of the four core money script categories influence your financial decisions.
– Gain awareness of the financial beliefs that may be serving or limiting you.

>> Take the official Klontz Money Script Inventory (KMSI) here: https://www.bradklontz.com/moneyscriptstest

Let’s Discuss Your Money Scripts – Free Consultation with Dr Sophie 

If you are curious about what your money scripts reveal about your financial habits and want to explore how to shift limiting beliefs into empowering ones, I invite you to book a complimentary 30-minute strategy session with me. 

In this one-on-one call, we will:

– Review your test results and what they mean for your financial mindset.

– Identify patterns and behaviours that may be holding you back.

– Explore practical strategies to cultivate a healthier, more intentional financial relationship. 

Book your free session here: https://bit.ly/1-1-call_DrSophie 

Your financial story is yours to rewrite. Let’s start the conversation today! 

Sincerely,

Dr Sophie

Your (Financial) Empowerment and Positive Psychology Coach 

+++++ 

Inspired by:

  • Klontz, B., Britt, S., & Archuleta, K. (2012). Financial Therapy: Theory, Research, and Practice. Springer.
  • Klontz, B., Klontz, T., & Chaffin, C. (2016). Facilitating Financial Health: Tools for Financial Planners, Coaches, and Therapists (2nd ed.). Wiley.
  • Klontz, B., Kahler, R., & Klontz, T. (2008). Wired for Wealth: Change the Money Mindsets That Keep You Trapped and Unleash Your Wealth Potential. HCI.