Hi Reader,

As I’m fond of mentioning, this money and personal finance stuff is not merely about numbers and spreadsheets.

Money is just as much — if not more so — about thoughts, feelings, and emotions. There is a HUGE psychology component to all this seemingly cut-and-dried money work.

So when we start looking more at our money, it’s not uncommon to get a bit frustrated.

You might find yourself wondering, “Why did I do that?!” Or even…

“Why do I KEEP DOING THAT — when I clearly know better?!”

If you get frustrated with your behavior around money — or seem powerless to change behavior that doesn’t serve you — there’s a good chance you have some unconscious money scripts at work.

What the heck is a money script?

Money scripts are patterns of thought and behavior regarding money.

These scripts run on autopilot — in the background of our minds and outside our conscious awareness.

Most of your money scripts are formed in childhood. (Bet that doesn’t come as a huge surprise to you!)

These money scripts are “rules to live by” that your child self developed. And these “rules” are perfectly rational responses to the circumstances you faced at the time.

The trouble is that these hard and fast rules are typically true in only limited circumstances. But our minds apply money scripts indiscriminately — to most (or even all) financial situations we face.

Not only that, as I mentioned, these scripts are applied outside of our conscious awareness. Money scripts aren’t rational decisions that our executive function consciously makes. Rather, the more primitive — yet incredibly powerful — areas of the brain kick into gear, overriding our best intentions.

Awareness is the first step

But it isn’t hopeless! There are ways to dramatically lessen the grip money scripts have over your thinking and behavior. (You’ll find much more about that in the book suggestion below.)

Bringing greater awareness to your own money scripts is the first step.

Dr. Brad Klontz, who developed the idea of money scripts, offers a free assessment on his website. He is both a Psy.D. and a Certified Financial Planner™️ — which I think is a pretty cool combination.

👉 Click here to take the Klontz Money Script Inventory.​

Recover and design interventions for yourself

If you suspect your money scripts might be causing you some grief, I’d encourage you to consider the book Mind Over Money: Overcoming the Money Disorders That Threaten Our Financial Health.​

While the term “disorders” might feel a bit over the top, the reality is that we all have some degree of “disordered” thinking around money. This book offers explanation, insight and interventions to help you better navigate your sometimes bewildering behavior around money.

If you’ve ever found yourself frustrated with your own (or your partner’s!) financial behavior you seemingly can’t change - this book is a must read.

The link above is for the Kindle version of the book. Amazon offers the option to download a free sample before you purchase. If you find the free sample reading resonating, I think this book will be money well spent. (The Kindle version is much more reasonably priced than the print version. And there’s an Audible book available, too.)

What’s on your mind? 🤔

What’s your reaction to the idea of money scripts?

Does it seem surprising? Are you skeptical that money scripts have a meaningful influence on your behavior? Or does this knowledge come as a relief?

Hit reply and let me know! I read and respond to every email.

Best,
Dave