The Roots of Money Scripts

    For many of us, managing our finances and building economic security is a nagging concern. We know we should be making greater strides in taking control of our money matters, but nothing changes.  We become confused and discouraged about our inability to make positive change in our financial lives.

    However, the authors of Wired for Wealth (Brad Klontz, Rick Kahler, and Ted Klontz) say that all of our financial actions—or inactions—make perfect sense when we understand what “money scripts” drive those behaviors.  They write:

“Money scripts are the thoughts, beliefs, and attitudes that we hold about money. Many of our associations are hidden deeply in the unconscious mind.”

 
    Klontz, Kahler, and Klontz go on to explain that, as children, we internalize money messages we receive from our parents, other significant people in our lives, our life situation, and from society as a whole. They explain, “Because children take in and process messages about money in individual ways, the money scripts they learn from their situations can vary.” In other words, two children from the same family can grow up with completely different money scripts and different ways of managing their financial resources.
    A review of your money memories will give you tremendous insight into the money scripts that consciously and unconsciously influence how you deal with money issues on a day-to-day basis. The following questions will guide you in this reflection process:

1. What is your earliest money memory?
2. In your family, was money an issue, a source of conflicts, a reward, or a tool for achieving goals?
3. As a child, what was the most important lesson (positive or negative) you learned about money?
4. What were the spending/saving patterns of your mother? Of your father?
5. When did you first start earning your own spending money? How did that make you feel?
6. What money habits have been obstacles to reaching your life goals?
7. What money habits have brought you closer to your life goals?

©2009 Money Quotient, Inc.