Our deep-seated thoughts and beliefs about money can be so impactful to our experiences managing it–we might not even be aware of just how much! The beliefs we carry with us, that can keep us from functioning at our best financially, can be both conscious and subconscious.
Subconscious beliefs come from circumstances so long ago that we can’t even remember when the belief started, it’s just always been there, operating in the background, running the show at every financial decision. These beliefs are often responsible for the situations we find ourselves in, whether that’s being stuck in a certain pattern of behavior, or just stuck moving forward towards our goals at all.
The Klontz Money Script Inventory has identified 4 common types of money beliefs, or “scripts” that we have running on repeat in our minds, regarding what we believe to be true about money. Read below to learn more about each type, see which might resonate with you, and also to understand how a financial coach might be able to help navigate these limiting beliefs!
Money Script Types:
–Money Avoidant–
Limiting Belief: “Money is toxic, rich people are greedy, and I want nothing to do with it.”
Might Look Like: Complete shut down around the topic of money, finance, etc. or intentionally avoiding financial systems and institutions altogether.
Possible Root Cause: Something may have occurred, or been witnessed, that led to distrust the financial system. One might have seen how money corrupted or excluded a certain group, perhaps systemically excluded like an “unbanked” population.
–Money Status–
Limiting Belief: “Once I get to X amount of money, I will feel ok.”
Might Look Like: Feeling a lack of overall happiness and linking that feeling directly to the amount of money on hand. One might believe that if only there was more money, all goals would be achieved.
Possible Root Cause: Growing up in an environment where there was never enough money in order to feel secure, or having been modeled that lack of money was the reason for all unfavorable situations.
–Money Worshiper–
Limiting Belief: “I respect people because they make a lot of money.”
Might Look Like: Workaholism, keeping up with the Joneses. Net worth equals personal worth.
Possible Root Cause: Growing up in an environment where productivity, achievement and making money were the measure of the individual’s worth and success.
–Money Vigilant–
Limiting Belief: “Money is meant to be saved and not spent.”
Might Look Like: Living in a scarcity mindset, even if there is a reasonable amount of money in the bank. Anxiety around spending money.
Possible Root Cause: Growing up in an environment where someone in charge was “financially irresponsible”, or thought to be undependable financially which lead to feeling insecure around spending.
How A Financial Coach Might Help!
A good starting point with a coach is to identify your vision and goals, and then explore if there are any limiting beliefs about money getting in the way.
Working out where those beliefs came from can help to “discharge” their power and influence. It can also help to investigate how those beliefs are still affecting financial behaviors and decision-making today.
Brainstorming alternative ideas, being open to change, and practicing self-care and self-forgiveness towards both who you were when these beliefs started and towards who you are today can be transformative.
A coach can also be a sounding board and action planner, providing the very next tiniest action-step in order to to get you moving in the direction you desire.
They can provide accountability when those long-held beliefs inevitably flare-up, and follow-up with you along your journey towards your goals. There is hope in shaking these beliefs and creating healthy new financial habits!
Unlocking Abundance 