Money script

What It Means

A money script is a core belief about money, often picked up in childhood and rarely examined, that steers how a person spends, saves and manages money. The term comes from the work of financial psychologist Brad Klontz, an associate professor of practice at Creighton University's Heider College of Business. His research sorts money scripts into four types: money avoidance, money worship, money status and money vigilance. Creighton notes that most people don't realize these beliefs are behind their choices.

How It Sounds at Home

• "My money script says rich people are greedy, and I'm working on it."
• "We have totally different money scripts from how we grew up."
• "That's my money worship talking again."

The Breakdown

A short example. Luis grew up hearing that people with money got it by taking advantage of others. Now he's a skilled freelanceFreelancingWorking for yourself, selling your skills to different clients by the project or the hour instead of holding a long-term job with one employer. See more designer who charges less than anyone he knows, rarely raises his rates and feels uneasy whenever his savings grow. His partner, Ana, grew up in a family where the car and the clothes showed how well you were doing, and she spends to keep up.

Where it goes wrong. Each of them is following a script neither chose. Luis's sounds like money avoidance, and Ana's like money status. When they argue about spending, they're arguing past each other: he reads her purchases as showing off, while to her his low rates look like he doesn't care about the family's future.

What to watch for

• Strong feelings, like guilt, shame or excitement, attached to ordinary money choices.
• "Always" and "never" statements about money or about people who have it.
• Choices that work against a goal you say you want, such as pricing your work below what it's worth.
• Copying a parent's money habit, or doing the exact opposite on purpose.

A way to start the conversation. Each of you finishes the sentences "Money is..." and "People with money are..." without thinking too long, then compares answers before talking about any numbers.

Where It Comes From

Brad Klontz and colleagues built the Klontz Money Script Inventory, a questionnaire that sorts beliefs into the four money scripts, and later tested a revised version, the KMSI-R, in the JournalJournalingWriting down your thoughts and feelings, in a notebook or an app, to understand them more clearly and to see what's behind your stress. See more of Financial Therapy. Creighton University describes the questionnaire as a way to see which money scripts shape a person's ability to build and enjoy wealth.

Good to Know

According to the American Psychological Association and the Journal of Financial Therapy, Klontz's research linked money avoidance, money worship and money status to lower income and net worthNet worthWhat you own minus what you owe: the value of your savings, investments, home and other assets, less your mortgage, loans and card balances. See more, more revolving creditRevolving creditCredit you can borrow, repay and borrow again up to a set limit, such as a credit card or a line of credit. See more such as card balances, and problem behaviors like compulsive buying, gambling and avoiding money matters altogether. Money vigilance was linked with healthier habits. A quiz result is a starting point for reflection. If money beliefsMoney mindsetThe beliefs and attitudes about money you carry, many of them learned in childhood, that shape how you spend, save and talk about it. See more are causing real distress or conflict, a licensed therapist can help, and a nonprofit credit counselorCredit counselingAdvice from a trained counselor, usually at a nonprofit agency, on your budget and debts, which can lead to a debt management plan or other next steps. See more can help with debtsLiabilitiesDebts and other money you owe, such as a mortgage, a car loan or a credit card balance. Your assets minus your liabilities is your net worth. See more.

Related Terms and Categories

• Money mindset

  The beliefs and attitudes about money you carry, many of them learned in childhood, that shape how you spend, save and talk about it.

• Scarcity mindset

  The narrowed focus that comes from having too little money or time, which pulls attention to the shortage and leaves less mental room for everything else.

• Financial anxiety

  Ongoing worry or unease about money, your bills or how you handle your finances, sometimes with physical signs such as lost sleep.

• Financial infidelity

  Keeping money secrets from a partner you share finances with, such as hiding purchases, debt, income or a separate account.

Household money and budgeting