Each of us has a set of ingrained beliefs about money, known as “money scripts.” These beliefs, often formed in childhood, profoundly impact our financial decisions throughout adulthood. Money scripts are based on partial truths and perceptions, and one of the primary reasons they cause problems in our lives is that we unconsciously act on them as if they are absolute truths.

The book Wired for Wealth (HCI, 2008) compiled a “Top Ten” list of the most prevalent money scripts. These are:

1. More Money Will Solve My Problems: Many of us hold the belief that having more money will bring us security, happiness, fulfillment, or whatever else we desire. While there is some truth to this money script, research indicates that once we can comfortably meet our basic needs, happiness is not significantly correlated with the amount of money we possess.
2. Money is Inherently Bad: This money script manifests in various ways, such as the belief that “rich people are shallow, greedy, or unhappy.” Anyone with this belief is likely to subconsciously sabotage their potential for financial success. After all, if we believe money is inherently bad, it is natural to unconsciously avoid acquiring it.
3. I Don’t Deserve Financial Abundance: This money script is prevalent among individuals in helping professions and may also affect those who inherit or receive money they don’t feel they have earned. It may stem from the belief that it’s wrong to enjoy money, especially when others are less fortunate. This script can lead to under-earning and financially imprudent decisions.
4. I Deserve to Spend Money: While it’s essential to believe that we deserve to enjoy the fruits of our labor and spend money on ourselves, loved ones, and charitable causes, this script can undermine our financial well-being when used as a justification for overspending.
5. There Will Never Be Enough Money: Ebenezer Scrooge is a classic example of this money script taken to its extreme. When we believe there will never be enough money, we set ourselves up for a life of deprivation, constant anxiety, insecurity, and fear.
6. There Will Always Be Enough Money: This money script drives the behaviors of many individuals who grew up in affluent families or those who have always been financially supported by others. It can lead to a lack of financial planning and a tendency to live beyond their means.
7. Money Is Unimportant: This money script is common among those in helping professions, creative artists, and individuals with religious beliefs that emphasize the virtue of poverty. While it acknowledges that material wealth doesn’t guarantee happiness, it can also serve as an excuse for poor financial planning and money management.
8. Money Will Give Me Meaning: This belief may stem from growing up in poverty and viewing money as a magical tool that can open doors to acceptance or respect. It can also be tied to the belief that financial success is the primary measure of worth.
9. Talking About Money Is Taboo: This script is deeply ingrained in our culture. Despite the abundance of information available on earning and managing money, discussing our personal finances and our relationship with money remains one of our biggest taboos.
10. If You Are Good, The Universe Will Provide: This belief is particularly common among those in helping professions or with strong religious backgrounds. It can serve as an excuse not to take responsibility for their financial well-being or plan for the future.

This list can serve as a starting point for identifying your own money scripts. Recognizing these underlying beliefs is the first step toward developing a more balanced and healthy relationship with money.