Money Scripts
Money Scripts
By Dr. Gerald House
What are money scripts, and why are they important, especially in the financial planning process? Money scripts are deeply ingrained beliefs about money, often formed in childhood, that unconsciously influence our financial behaviors and decisions. These underlying stories can shape how we earn, spend, save, and invest, sometimes guiding our actions without us even realizing it. Money scripts often operate in your subconscious and run automatically in the background of your financial decision-making. They are frequently highly predictive of financial behavior. Your money script is built emotionally rather than logically and is learned during childhood from your parents, culture, religion, or experiences.
For example, my father and mother grew up in relatively poor families. My father grew up near Birmingham, Alabama, and my mother grew up in New Jersey. I know, what a contrast! My parents broke the money class barrier and became typical middle-class workers. In fact, my father was the only sibling in his family to attend and graduate from college, thanks to the military. However, my parents were always purchasing products and services that encouraged “keeping up with the Joneses.” Consequently, they were always in debt.
Klontz, Kahler, and Klontz (2016) describe four main types of money scripts: Money Avoidance (believing they do not deserve money), Money Worship (buying things to create happiness), Money Status (feeling the need to maintain the appearance of being successful), and Money Vigilance (being alert and watchful about their finances). Can you tell which money script my parents fell into? To make things worse, I fell headfirst into the same type of money script my parents had, until I began changing my script. The Bible, along with financial education, will motivate you to do that.
Recognizing and understanding your own money scripts is an essential step toward achieving financial well-being. By reflecting on where your beliefs originate and how they influence your current behaviors, you can begin to challenge and adjust unhelpful patterns. This process empowers you to make more intentional, informed decisions about your finances, promoting greater stability and peace of mind.
It’s important to remember that money scripts are neither inherently good nor bad; instead, they can be helpful or harmful depending on how they influence your financial decisions. For example, a script based on vigilance can promote healthy saving habits, but if taken to an extreme, it might lead to unnecessary anxiety or reluctance to enjoy your wealth. By becoming aware of these scripts, you can intentionally choose which beliefs to keep and which to change to pursue financial goals that genuinely reflect your values. Several tools and assessments are available to help you identify your dominant money scripts. Taking the time to complete these assessments can offer valuable insights into your financial habits and highlight areas where you might want to grow or make changes. Understanding your script is the first step toward rewriting your financial story and building a healthier relationship with money. Check out your unique money script using the link below.
What guidance does the Bible provide about our behavior with money? First, always maintain a balanced view of money by emphasizing diligence, generosity, and contentment. Second, steer clear of greed, the pursuit of wealth, and trust in riches.
1. Avoid Greed and Excessive Attachment
Biblical principle: “The love of money is a root of all kinds of evil” (1 Timothy 6:10).
Modern behavior:
Avoid lifestyle inflation; don’t chase “keeping up with the Joneses.”
Prioritize experiences and relationships over material accumulation.
Set boundaries for spending on luxury or non-essential items.
2. Be Generous and Help Others
Biblical principle: “Whoever is generous to the poor lends to the Lord” (Proverbs 19:17).
Modern behavior:
Donate a portion of your income to charity or community causes.
Consider automated giving or volunteering time/resources.
Support family or friends in need responsibly.
3. Practice Contentment
Biblical principle: “Be content with what you have” (Hebrews 13:5).
Modern behavior:
Avoid comparing your net worth or possessions to others.
Practice gratitude journaling for what you have.
Make mindful purchasing decisions instead of impulse buying.
4. Stewardship and Responsible Management
Biblical principle: Parable of the Talents (Matthew 25:14-30).
Modern behavior:
Budget to track and plan income and expenses.
Invest wisely in growth (retirement accounts, index funds, etc.).
Plan for long-term goals, like education, homeownership, or emergency funds.
5. Avoid Excessive Debt
Biblical principle: “The borrower is slave to the lender” (Proverbs 22:7).
Modern behavior:
Avoid high-interest credit cards and payday loans.
Prioritize paying down debt systematically (e.g., snowball or avalanche method).
Use debt only strategically (like mortgages or business loans) and within capacity.
6. Work Diligently and Earn Honestly
Biblical principle: “If anyone is not willing to work, let him not eat” (2 Thessalonians 3:10).
Modern behavior:
Focus on career development and skill-building to increase earning potential.
Diversify income streams ethically (side gigs, investments).
Avoid schemes or shortcuts that promise “easy money.”
7. Maintain Integrity in Financial Dealings
Biblical principle: “A false balance is an abomination to the Lord” (Proverbs 11:1).
Modern behavior:
Be honest on taxes, loans, and business transactions.
Avoid financial fraud or deception.
Ensure transparency and fairness in financial agreements.
Summary
Money Scripts are deeply held beliefs about money formed during childhood that unconsciously influence financial behavior. There are four types of money scripts: Money Avoidance, Money Worship, Money Status, and Money Vigilance, highlighting the importance of recognizing and understanding your own scripts to achieve financial well-being. By reflecting on the origins of these beliefs, individuals can begin to challenge and change unhelpful patterns, leading to more intentional financial decisions and greater peace of mind. Additionally, by using the Bible as your guide, you can develop a solid plan to break free from harmful money scripts and replace them with ones that honor God.
Your faithful servant
References
Holy Bible, NIV. (2013). Zondervan.
Klontz Money Script Inventory-Revised 1711-KMSI-R-Revised-00076781xB3C60.pdf
Taylor, C. D., Klontz, B., & Britt, S. L. (2016). Internal consistency and convergent validity of the KLONTZ Money Behavior Inventory (KMBI). Journal of Financial Therapy, 6(2). https://doi.org/10.4148/1944-9771.1101
Writing and research assistance provided by ChatGPT, Grammarly, Pro Writing Aid, and CoPilot
