Money Scripts: The Psychology of Wealth

Money Scripts: The Psychology of Wealth

Why do we sabotage ourselves when it comes to money? We know better, but we can’t do better. The psychology of wealth all comes down to our money scripts: our beliefs about money.

In this video I talk about money scripts: what they are, where they came from, and how they can keep us from reaching our goals.

Our financial psychology research has found that wealthy people have a very different money mindset than middle class and poorer people. In other words, the psychology of wealth is a major factor that separates the rich from the poor.

Specially, we found 4 patterns of money scripts: money avoidance, money worship, money status, and money vigilance - 3 of which are bad for your financial health. When left unchecked, these money scripts can lead to money disorders and financial self-sabotage.

In this video we give 3 tips for discovering and rewriting your money scripts.

Wishing you excellent financial health!

Dr. Brad Klontz
Your Financial Psychologist

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#moneypsychology #financialadvisor #behavioralfinance #financialhealth #moneymindset

[marlenaeva]

Thanks for this. I recently did my childhood money scripts and it was not a nice picture, let me tell you. My money scripts are about not having enough money, rich people are crooks, it is hard to have/get money, you don't have to enjoy work to get money, spending money is not good and so on. The good news is that I am now seeing the whole negative money painting I've been looking at since childhood and try to re-write some of those beliefs. It takes time, love and patience to believe in yourself enough to change the money scripts.

[Olivia.teacher]

Great to learn about wealth psychology! I studied psychology at school but didnt hear about this whole field of psychology! Love it!

[jomontanee]

I bought your book MIND OVER MONEY from Amazon to Thailand and it changed my life! Thank you!

[kinnamcguire]

Introduced to you via the Personal Financial Planning program at Texas Tech University. Reintroducing myself to your findings as I launch my own career as a financial coach to main street America. I can tell you from personal experience that the scripts do change when you know better and do better. Prior to my education, I was a money worshipper. Now that I've learned more and are applying proven financial concepts, your quiz points me to money vigilant (with some re-writing of the other scripts left to accomplish). Only up from here! Thanks for all you do, Dr. Klontz

[CaseyEphraim]

Much thanks to your lecture. The impression while growing up was there was no money even when the money was there.

[tonyesfandiari]

Hello there- great stuff thank you- The test layout and format is not working on the phone- can use a little tweaking by your webmaster

[rikainocalla]

You are amazing! You've made the most sense in money mindset, thank you so much. I'm so grateful to have found your page.

[SuzyTopAgent]

I'm a Saver 😊 My parents both self employed, taught me to work hard, save and invest.

[NicolasHernandez-unfr]

Great video. I'm reading about this topic in one of my classes. Definitely think this is a skill/area that financial advisors could use to further add value to the profession.

[chrisbenn]

Trying to find the "Klontz Money Behavior Inventory" test by following your link but where is it?

[pazsugarspice]

I valued the assessment. The behaviors on how you treat money loaning or giving to other people was interesting. This could effect their own self worth if you resent them for it, especially your children. Like they are not worth it, and therefore they are not high earners. Interesting topic. How could we change this script?

[ohmyohmyg]

hi! what is/are the sources that proves the connection between money scripts and financial behaviors? if this is one concept, i’m requesting for your generous explanation 🥺💛

[jamesshelt]

Blessed by this work. Thank you! Are you in touch with Van Tharp, or any of the trading community? Van's book, Trading Beyond the Matrix, sent me down the rabbit hole of self-evaluation, and this fits in perfectly with his Super Trader program. Anyway, will reco the tests to everyone when money comes up in the future. Bless you all.

[rodneykuhl]

Do you have a video on using the Money Atom exercise?

[adrianamaciel]

ecelwnte video!!! i am from Brazil. i did read your book and i started to look for more information about your your

[cindyteniente]

Hi Brad! Thanks for the video. These are my results...what does it mean??


Money Avoidance = 2.50
Money Worship = 1.71
Money Status = 2.86
Money Vigilance = 2.88

[pineapplegoomba]

if you are here because of a fin lit class then here are some answers
Where do we learn our financial habits?
-we learn our financial habits from our family mostly from your parents and how they taught you about money.
What factors influence our financial behaviors
-Unconscious learning in childhood, generational, and partial-truths drives our financial behaviors

[matthewcibellis]

Heard about you on Motley Fool with Robert Brokamp. You need to be on their show! (You probably have, but...)

[joanowens]

Here's how uncomfortable I am about money: I'm afraid to take the free test!

[maniiyer]

Let me know more and do it Free Of Cost for my sake.I am an old retired man . Please do it for my sake free of cost.
Let me know the script 's name.